Chennai, NFAPost: TiE50, a prestigious award that recognises top technology and technology-enabled startups, this year awarded 50 top entrepreneurs from across the world at TiECON 2020, the flagship conference of TiE Silicon Valley, the world’s largest entrepreneurship conference.
Out of these 50, top 10 startups were selected to pitch their ideas to Tim Draper, the legendary American venture capital investor from the Draper’s family. Nominated by TiE Chennai, Agnikul Cosmos, a Chennai based startup that builds rockets (launch Vehicles), was selected among the top 10 startups, pitch to Tim Draper as part of ‘Meet the Drapers`, a popular reality show in the United States.
The prestigious TiE50 Award recognises outstanding startups each year contesting in the TiE Silicon Valley’s premier annual awards. About 84% of the winners have received more than a billion dollars in funding since the inception of this program.
TiE Chennai Executive Director Akhila Rajeshwar said, “We are extremely delighted that Agnikul Cosmos, Paperflite, SP Robotics, The Indus Valley, Twixor (Appiyo Technologies Pvt Ltd), nominated by TiE Chennai, were chosen for the TiE50 Awards. It is a proud moment for the entire Chennai entrepreneurial ecosystem. Agnikul Cosmos also had the opportunity to pitch to Tim Drapers. Out of these 5 companies, 4 are portfolio companies of The Chennai Angels.”
Commenting on their achievement, Agnikul Co-founder and CEO Srinath Ravichandran said, “We were excited to have gotten this recognition. We met our very first investor at a TiE Chennai event in 2018. So, TIE always has played a special role in our journey. This additional recognition comes both as a validation of progress we have made and as a source of encouragement to the team.”
Now celebrating its tenth year, TiE50 Awards provides a one-of-a-kind showcase for the world’s top technology and technology-enabled startups. TiE Silicon Valley’s premier annual awards program is keenly contested by thousands of early- to mid-stage startups of all sizes representing a wide range of verticals. Applications are reviewed by a panel of judges including venture capitalists, angels, successful entrepreneurs, and corporate executives. Since its inception, 84% of TiE50 winners and top startups have been funded a total of over $1 billion. Many of these companies went on to acquisition or IPO with 29 of the exits at over $100 million.