Silicon Hills News Article-TiE Austin Pitch Competition
TiE Austin is holding a pitch competition open to startups that have been through an accelerator program.
It’s targeting startups that have graduated from an Austin-based accelerator program in the last three years, raised no more than Series A funding, said Tejal Sahasrabudhe, executive director of TiE Austin.
The TiE Austin chapter is part of the global nonprofit organization, TIE, which has 15,000 members in 61 chapters in 14 countries. The Austin TIE chapter has 50 members, and is expanding its presence locally, Sahasrabudhe said.
The pitch competition is free to apply, and applications are due by Oct. 7th, she said.
Startups applying must also have a presence in the Central Texas region, and they must have a commercially viable product with some revenue, Sahasrabudhe said. It’s open to any kind of startup, she said.
“Mainly we are not just looking for tech solutions, we are looking for impact companies as well,” she said.
TiE will be selecting between eight to ten companies to pitch for $20,000 in cash prizes, $250.000 in investment, and the ability to leverage to the TiE global network, Sahasrabudhe said. The event will be held at Vrbo’s office in the domain at 11920 Alterra Parkway on Nov. 7th. It is sponsored by Vrbo, iTexico, and Wilson Sonsini Goodrich & Rosati.
“We feel TiE Austin is the great organization to be doing this because it’s globally known and has so many connections,” she said. “It exposes startups and entrepreneurs to investors that they would not otherwise get an opportunity to meet.”
TiE globally has a lot of pitch competitions and the Austin Chapter wanted to provide an opportunity for local startups to get exposure and receive funding, Sahasrabudhe said.
“We feel like there is a gap in between companies that have gone through an accelerator program and the next phase for funding,” she said. “We are trying to provide a runway for those startups.”
Austin has several accelerator programs including MassChallenge Texas, Sputnik, Tarmac TX, Techstars, Capital Factory, Founders Institute, SKU Accelerator, DIV Inc and more.
“The main thing about this competition that is different from other competitions, is we are only selecting companies that have gone through the accelerator,” Sahasrabudhe said. “Also, this will showcase how great accelerator programs there are in Austin.”