TiE Mentored Startup Wins Over $1 Million

BetaGlide

BetaGlide, a start-up run by two Indian student-entrepreneurs and mentored by  TiE – The Indus Entrepreneurs, won US$1.1 Million from Mercury Fund at  the Rice Business Plan Competition 2014. 

A Business With Real Potential

BetaGlide was founded by Amritanshu Anand and Anshul Singhle, two young students from IIT Karaghpur (one of India’s most prestigious universities).  Their business began when Amritanshu was working on a mobile application and couldn’t’ find the right product/service to test it before launch.  He soon realised that many others had this problem, and BetaGlide was born.  Two years on, the app has over 100 app developers as customers and sits on over 2 million mobile devices around the world.  “There are more than 2.5 million apps across the app stores…” said Amritanshu, We allow developers to track and monitor how their app is performing across devices and benchmark this data to the industry standard.  We also generate logs for debugging and solving pain points.  There are more than 12,000 devices, which run on 25 different operating systems.  It’s difficult for developers to keep track of all of this, but we make it happen.”

From their initial offering of streamlining testing, the app now offers real-time analytics to developers and helps them to not only fix problems fast, but gives them the insights they need to keep people coming back to their applications time and time again.

Competing against the best of the best, and winning

After being mentored initially by their local chapter of TiE in India, and then by TiE Global at an international bootcamp, BetaGlide arrived at the Rice Business Plan Competition 2014; the word’s most prestigious and richest business plan competition, where the very best in student teams from around the world (whittled down from over 1,200 applications) compete for millions of dollars in prize money and are judged by top venture capitalists, investors and entrepreneurs from over 30 countries.

After three days of intense pitches and rigorous question and answer sessions, BetaGlide arrived at the gala awards dinner.  To rapturous applause, the company went to the stage to collect US$100,000 in prize money from Mercury Fund who- in a huge surprise- decided to increase the prize tenfold to US$1,000,000 as their fund was so impressed with the venture.

We are so proud of BetaGlide,” said one of their mentors Vikas Shah from TiE UK North in Manchester, “these young entrepreneurs came to the competition with a great business, plus the passion and commitment to fight.  They impressed some of the most influential investors and entrepreneurs in the USA and walked away with a million dollars.  This is how lives change!

– Ends – 

About the Rice Business Plan Competition: http://alliance.rice.edu

The Rice Business Plan Competition is the world’s richest and largest graduate-level student startup competition. It is hosted and organized by the Rice Alliance for Technology and Entrepreneurship, which is Rice University’s flagship initiative devoted to the support of entrepreneurship, and the Jesse H. Jones Graduate School of Business.   In 2013, more than 1200 applications were submitted. More than 130 corporate and private sponsors support the business plan competition. Venture capitalists and other investors from around the country volunteer their time to judge the competition, with the majority of the 250+ judges coming from the investment sector. 138 past competitors have gone on to successfully launch their businesses and are still in business today, raising in excess of $600 million in funding.

About TiE: http://www.tie.org
TiE (The Indus Entrepreneurs) is the largest non-profit entrepeneurs network in the world with 20,000+ members in 60+ chapters around the world.  TiE mentoring programmes have, since 1992, added over $200 billion to the value of businesses around the world.

Posted on April 13, 2014 in TiE UK North News

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