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February 20, 2006

TiE-DFJ business plan contest selects two winners

Rajan reports that the "India Venture Challenge" national level business plan competition organized by Draper Fisher Jurvetson (DFJ) and TiE (The Indus Entrepreneurs) has selected two companies as joint winners. The two companies - Dr. Girish Saraph-led Vegayan Systems (Mumbai) and Mukesh Hegde-led NCE Technologies (Bangalore) - which shared the $150,000 prize money, were selected from among the 10 short listed finalists which presented their business plans to a eminent panel of judges at an event conducted at the Indian School of Business (ISB) at Hyderabad on February 20.

A press release from DFJ-TiE says that the contest attracted 125 entrepreneurial teams from across India, representing both new ventures and existing early stage businesses.

The panel of judges evaluating the 10 finalists included Sarath Naru of APIDC, Ranjan Chak of Oak Investments, Raj Atluru and Mohan Lakhamraju of DFJ, N.S. Raghavan of Nadathur Holdings, Srini Raju of ILabs and Professor Chandrashekhar of ISB.

Arun Natarajan is the Founder of Venture Intelligence India, which tracks venture capital activity in India and Indian-founded companies worldwide. View sample issues of Venture Intelligence India newsletters and reports.