The Indus Entrepreneurs to set up UK chapter

The Indus Entrepreneurs (TiE), the powerful organisation of South Asian entrepreneurs and software professionals, is spreading its wings and opening a new chapter in Britain.

TiE, which started life in Silicon Valley, will hold its first meeting in London on October 2. Leading speakers from the United States and Britain are expected at the meeting.

Businessman Apurva Bagri of Metdist Industries will be the chairman of TiE UK. "The UK Chapter will, we hope, build on the success achieved in the United States," said banker Nishit Kotecha who is a key organiser of the new organisation in Britain.

The aim of the group is to foster entrepreneurship, act as a mentor, network, and offer access to professional advice on raising capital and running a business.

TiE UK's other founder members include leading British Asian businessmen like Shami Ahmed, who founded Legacy, the venture capital fund, and the Joe Bloggs garments label. Tom Singh, the multimillionaire founder of the New Look retail chain will also be a part of the organisation from the outset.

Harpal Randhawa, founder and CEO of antfactory (an Internet incubator), will also be a committee member.

Businessmen from 'old economy' sectors like food and retailing are also expected to play a leading role in TiE UK. This will make the organisation slightly different from the United States where it is dominated solely by entrepreneurs from hi-tech sectors.

"The UK Chapter will appeal to a diversity of entrepreneurs, not just in infotech but across the business spectrum," says Bagri.

The new organisation will assist entrepreneurs who are putting together business plans and about to start new ventures. "The group will provide a unique forum for networking where senior charter members are available to assist others as they set out on the path of entrepreneurship," says Kotecha.

It is reckoned that entrepreneurs involved with TiE have created over $75 billion in new market capitalisation since 1992 when the organisation was founded.

According to Dun & Bradstreet 788 Silicon Valley hi-tech companies were led by Indians in 1998. Founding members of the parent organisation include the founders of Hotmail, Exodus, Sun Microsystems, Pinnacle Systems and senior executives from Excite@Home, Oracle, Draper International, AT&T, Kleiner Perkins Caufield & Byers, McKinsey, Amazon.com, Heltheon.

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