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TiE launches 'billion dollar babies' project for startups

Hyderabad, Dec 18 (IANS) The Indus Entrepreneurs (TiE) Hyderabad chapter Thursday launched the Billion Dollar Babies (B$B) project for the startups.

An initiative of TiE Silicon Valley Chapter, the B$B project will select few startups from India which have a potential to become a $1 billion company.

The program aims to help select Indian product startups reach $1 billion in global enterprise value through this ambitious initiative that promises to leverage the reach and resources of TiE Silicon Valley, said a statement.

With its first class next month, the programme will bring selected startups to Silicon Valley. It will help entrepreneurs go global, connect with mentors, potential customers and venture capitalists.

The companies will be able to participate in the TiE CIO Forum and other educational events, and receive help with legal, accounting, HR/benefits, hiring, marketing, and other company-building tasks.

The project was unveiled by Venktesh Shukla, president of TiE Silicon Valley. "The program represents a unique opportunity for young Indian companies aspiring to break through into a competitive global market," he said.

"We are seeing companies with enormous global potential starting in India, and we believe with the proper resources they can become billion dollar companies," said Raju Reddy, adviser to Hitachi, global entrepreneur and co-chair of Billion Dollar Babies.

"We have seen many innovative business ideas from our local youngsters and we believe that some of these will certainly give a strong competition to other startups in this project," said Murali Bukkapatnam, president - TiE Hyderabad.