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University Team Representing TiE New York Places Third in Global Entrepreneurship Competition
June 1, 2022 (New York) – Nemu, from The Wharton School, placed third at the Fourth Annual TiE University Global Pitch Competition held virtually on May 14 – 15, 2022. Led by CEO, Sarah Powers, Nemu is developing an application to help estate representatives manage personal property transfers conveniently and fairly, while preserving emotional and financial capital. The cash prize of $5,000 was sponsored by the REAN Foundation. The team was also named a co-winner of the Best Women-Led Startup prize.
“We are thrilled for Nemu’s success and very impressed by Sarah’s ideas,” said Craig Abbott, TiE New York University’s Chapter Lead , and TiE New York board member. “She has an innovative solution to a common problem when it comes to estate management. We also thank TiE New York’s President, Dharti Arvind Desai, who mentored Sarah Powers of Nemu and our Charter members who mentored the other companies to refine and present a perfect pitch. This is truly a testament to the importance of mentorship, no matter what the stage of an entrepreneur’s startup.”
Teams from over 420 universities applied to the competition, and teams from eight countries representing 30 colleges made it to the semifinals of the global pitchfest on May 14. Of these, 12 teams from the US, Germany and India made it to the finals held on May 15. Judges were from around the world at every level of the competition. The virtual event was viewed by over 500 audience members from around the world. Teams pitched diverse business ideas in varied industries as healthcare, edtech, energy, life sciences, consumer products, agritech, food tech, and e-commerce, among others.
“This year, TiE University was hugely successful in extending a stronger college ecosystem to include TiE’s differentiators of mentoring by real-world entrepreneurs and impactful workshops and bootcamps that are important to our startups” said Dr. Paul Lopez, Founder and Co-Chair of the TiE University Program. He added, “Thanks to the teamwork of co-chairs Ravi Puli, Subbu Pericherla, and Viiveck Verma, as well as the generosity of sponsors, this year’s total cash prizes exceeded $102,000, plus in-kind awards of over $1.65 million to empower college entrepreneurs.”
Multiple investors such as 22nd Century Technologies, Powerhouse Ventures, REAN Foundation, TiE India Angels, TiE Global Angels and WeFounder Circle have committed $2 million to invest in college startups who are part of the TiE University program.
The event also featured a keynote speech by Thomas Healy who was named as a member of the elite Forbes’ “30 under 30” list. Healy founded Hyliion in 2015 and took it public as a unicorn company on the NYSE in 2020. He delivered key learnings such as “embrace your relationships” and “always have backup plans.”
The future is truly bright as exhibited by the many high-impact ideas delivered through the TiE University program which fosters entrepreneurship among college students who are launching and scaling their ventures to make the world a better place!
About the TIE University Program: TiE University, an initiative of TIE Global, aims to foster entrepreneurship among college students from ideation to investment. University startup teams gain access to learning resources, mentorship by successful entrepreneurs and are given opportunities to participate in global Hackathons, Startup Bootcamps, and Pitch Competitions. These interactions and experiences help startups take their business from a campus idea into a viable business. Details available at www.tieuniversity.org.
About TiE New York: TiE New York was founded in 1998 in New York City by a group of successful entrepreneurs, corporate executives and service providers to provide access to mentoring, networking, and funding for entrepreneurs. TiE New York is a part of TiE Global, the world’s largest entrepreneur organization with over 57 chapters in 12 countries, and 15,000 members. https://ny.tie.org/