Tata-NEN launches entrepreneurship competition

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Mumbai, Aug 27 (UNI) Tata Group and non-profit organization National Entrepreneurship Network (NEN) have jointly launched the ''Hottest Startups Awards'' to select the country's most promising entrepreneurs here today.

Speaking at the announcement function, NEN Executive Director, Laura Parkin said,'' The competition is an all-India, all-industries and geographies to recognize and celebrate entrepreneurial spirit.

Not all will succeed, but these enterprises are incredibly important for the growth of the Indian economy.'' Parkin said ''Innovative companies create 67 per cent of the new jobs through they make up only around five per cent of the companies launched. They are also vulnerable and need support.'' The competition is open to all stand-alone companies in existence for at least five years, with high growth rate and the potential to change their respective industries, added Parkin.

Over 800 companies are expected to submit their profiles on www.hotteststartups.in. and more than 5,00,000 people are also expected to be actively involved in the four-month competition.

''The logistics and manpower will be provided by 382 institutions that we are working with and writers who can assist entrepreneurs polish their presentations. 13 TiEs have already pledged their support. Small Scale industries (SSI) and SMEs are not included in the competition, but we want active participation from the smaller towns who can contribute with innovative ideas,'' said Ms Parkin.

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