Medtech Startup, Inochi Care, Wins $100K at the TiE Women Global Pitch Competition
Two women entrepreneurs win $25,000 and $10,000 as 2nd and 3rd prize
DUBAI, Arab Emirates, January 28, 2021 (Newswire.com) - TiE Women, an initiative by TiE Global to empower women entrepreneurs, announced the pitch competition winners at an event held at Dubai Knowledge Park this month. The event was hosted by TiE Dubai. Shivani Gupta, co-founder Inochi Care from TiE Kolkata won the first prize of USD 100K.
Medtech startup, Inochi Care has developed a device for multi-therapeutic wound healing. Commenting on the win, Shivani said, "The mentoring from TiE mentors and the funds will enable us to get the required approvals, expand our team, and commercialize our technology to the market faster."
TiE Women was led by Hemalatha Annamalai (chair) and Dharti Arvind Desai (vice-chair). The program engaged with about 200 mentors across six participating countries. Commenting on the program, Ms. Desai said, "We are leveraging our global footprint and building upon the rich ethos of TiE. The foundation of its values and beliefs are well understood globally and the visible outcomes are constantly evolving. We would like to encourage more women to take part in this program."
In India, TiE Women partnered with BSE's empoWer accelerator. Talking about the partnership Hemant Gupta, MD of BRTSIF & CEO of BSE Sammaan, said, "This fifth edition of empoWer being conducted in partnership with TiE Women has reached new heights with the cohort pitching to a global audience at Dubai. While only three entrepreneurs will get awards, each and every one of them is a winner and will create a significant impact with their endeavors." U.S.-based Elevate Capital and TiE Atlanta Foundation also supported the program as silver sponsor and bronze sponsor, respectively.
In its first year, over 2,000 applications were received from the U.S., Australia, India, Pakistan, Singapore, UAE & MENA region. Finalists from 26 TiE Chapters were invited to Dubai to pitch to a grand jury consisting of industry luminaries. Out of these eight selected finalists pitched to a judging panel from different professional backgrounds. Finale jury included Ingie Chalhoub, Founder and President, Etoile Group; Majed Al-Suwaidi, MD, Dubai Media City, Dubai Studio City, Dubai Production City and Head of in5; Vivek Oberoi, actor, entrepreneur, investor, philanthropist; and Zanubia Shams, Co-chairperson of Zulekha Healthcare Group.
The second winner was Parul Ganju of drug discovery company Ahammune Biosciences from TiE Pune, who won $25,000. Natalia Mykhaylova of WeavAir from TiE New York won the third prize of $10,000. WeavAir offers end-to-end software & hardware solution for air distribution systems that prevent the spread of air contamination and infection while saving energy and reducing operational and maintenance costs.
The three startups will also receive training, mentoring, and access to funding to develop their entrepreneurial initiatives. The second edition of TiE Women initiative will open for registration in February 2021. Businesses founded or led by women can submit their nomination online on www.tiewomen.org
Source: Company Information
