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TiE UK and Microsoft launch new Tech Special Interest Group for entrepreneurs to mark partnership on

TiE UK (The Indus Entrepreneurs), the UK’s leading not-for-profit organisation for entrepreneurs, and Microsoft announced today that they are launching a new Tech Special Interest Group (SIG) for entrepreneurs to celebrate their partnership on the BizSpark Program, a global IT and networking initiative for start-ups.

The Tech SIG launch event will be held on 16 March at the British Library in London and the guest speaker will be Barnaby Terry, the highly respected IT industry figure who has invested in over 50 high growth firms in the IT and services sector and co-founded Elderstreet Capital Partners, a leading venture capital fund, which he represents on the boards of Edenbrook and SIFT.

At the launch event, Mr Terry will share his views on the current state of the Technology market, and look at the opportunities available to today’s emerging businesses.

The Tech SIG is designed to provide a forum for software entrepreneurs and will give them the opportunity to meet and discuss trends in the software and consumer electronics industries as well as networking with each other. TiE UK and Microsoft will be bringing together prominent entrepreneurs from the IT industry, venture capitalists, analysts and senior executives to share their thoughts and insights with up and coming entrepreneurs at regular meetings throughout the year.

Microsoft’s BizSpark is a new program designed to accelerate the success of entrepreneurs and start-ups by providing access to Microsoft’s software and connecting them to a global network of entrepreneurial organizations such as TiE. The BizSpark Program provides start-ups with software and technical support at a time when they are least affordable - during their first three years - with no upfront costs. Each start-up participating in the BizSpark program will also have the opportunity to profile their company in the BizSparkDB, an online start-up directory, hosted on the Microsoft Start-up Zone web site, gaining exposure to potential investors, partners and customers around the world.

As a partner in the Bizspark program, TiE UK will be offering access to its Mentoring programme to all of the participating start-ups. TiE UK’s mentors include such high profile figures as Arun Aggrawal, VP - Head of Consulting, EMEA at Tata Consultancy Services; Dinesh Dhamija, Founder of ebookers; Davinder Mann, Founder of Consensus Consulting Limited; George Coelho, Managing Director of Good Energies and Founder of Benchmark Capital Europe; Tom Singh, Founder of New Look who is TiE UK’s Chairman; Lord Karan Bilimoria, Founder of Cobra Beer; Aditya Mittal, CFO of ArcelorMittal, the world’s largest steel company, and Chai Patel, Founder of the Priory Healthcare Group.

TiE UK is part of the world’s largest and most successful entrepreneurs not-for-profit network founded in Silicon Valley in 1992 with a mission to nurture entrepreneurship as the engine of wealth creation. It has since grown to 53 Chapters (branches) in 12 countries. TiE UK has been helping entrepreneurs realise their business goals since 2000 and is one of the largest Chapters in the TiE network with over 700 members. It has provided mentoring services to over 130 entrepreneurs in the last two years and organises 40 events a year.

TiE UK President, Nish Kotecha, said: “Through this global alliance with Microsoft, we will be able to deliver tangible and measurable value to our entrepreneurs. By supporting such initiatives, we can work towards our mission of driving a virtuous cycle of wealth creation and giving back to the community. I hope that this will help start-ups to achieve their dream of building successful entrepreneurial ventures. We are delighted to have such partners as Microsoft along with our global sponsors, Ewing Marion Kauffman Foundation, Silicon Valley Bank, Nishith Desai Associates, Standard Chartered Private Bank, and regional sponsors, ABN Amro, HSBC and KPMG, to ensure that our common goal of fostering entrepreneurship is reached.”

Lars Linstedt, Software Economist for Microsoft, said: “Microsoft is delighted to join forces with TiE UK on both the Tech Special Interest Group and our BizSpark program. TiE UK has an outstanding reputation as a network that provides valuable and practical support to thousands of entrepreneurs across the globe. We share a similar vision and we are pleased to be able to work with TiE UK to assist IT entrepreneurs to grow their start-up ventures into the successful IT businesses of the future.”

Barnaby Terry said: “I’m thrilled be to part of TiE UK’s launch of their Technology SIG. In conjunction with Microsoft’s BizSpark program, TiE UK is providing not only the software support so invaluable to start-ups, but also the education and networking that give such companies an edge. I’m looking forward to continuing to support both TiE and Microsoft through their programs and to participating in future Tech SIGs.”

- ENDS -
Editors Notes
Press contact: Margaret Henry, PR Consultant, TiE UK.
Tel: +44 (0)1865 811199 Email:

Photo available on request - post event
Barnaby Terry with Nish Kotecha (TiE UK President) and Lars Lindstedt (Software Economist for Microsoft) at the launch of the new Tech Special Interest Group – a forum set up by TiE UK and Microsoft to support start-ups in the ICT sector.

About TiE UK
Founded in Silicon Valley in 1992, TiE (The Indus Entrepreneurs) is the world’s leading not for profit organisation that promotes entrepreneurship.

Although its birth name signifies the South Asian or Indus roots of its founders, TiE stands for Talent, Ideas and Enterprise.

TiE’s core activities are mentoring and education programmes and networking events. The network links budding entrepreneurs to successful and prominent entrepreneurs and professionals through its unique Mentoring Programme. TiE also organises a TiEger’s Den Business Pitch Competition, inspirational networking events and Special Interest Groups in Healthcare, Outsourcing, Social Entrepreneurship and Venture Capital.

The TiE network includes many participants in the entrepreneurial ecosystem – high profile entrepreneurs as well as up and coming entrepreneurs, venture capital firms, angel investors and professionals that specialise in services to support entrepreneurs.

Launched in 2000, TiE UK operates from London and Manchester. It has over 140 Charter members and over 900 regular members, making it the second larget Chapter globally.

TiE UK’s partners include: the CBI; London Business School, Cass Business School; The Hub; Make your Mark (Enterprise Insight); British Library Business & IP Centre; Manchester Junior Chamber of Commerce; Warwick University; Said Business School at Oxford University; the Centre for Entrepreneurial Learning at Cambridge University; Manchester Business School; Manchester Metropolitan University Business School’s Centre for Enterprise and Imperial Entrepreneurs.
TiE UK is sponsored by: ABN AMRO Private Banking; HSBC Bank; KPMG. For further information:

TiE Global is sponsored by: Ewing Marion Kauffman Foundation, Silicon Valley Bank, Nishith Desai Associates, Standard Chartered Private Bank. For Further information:

About Microsoft
Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software, services and solutions that help people and businesses realise their full potential.

Note to editors: If you are interested in viewing additional information on Microsoft, please visit the Microsoft Web page at on Microsoft’s corporate information pages. Web links, telephone numbers and titles were correct at time of publication, but may since have changed. For additional assistance, journalists and analysts may contact Microsoft’s Rapid Response Team or other appropriate contacts listed at

About the BizSpark programme
Microsoft’s global BizSpark programme is designed to help start-ups grow into successful businesses through software support, a vibrant global ecosystem that delivers superior business advantage, and opportunities for visibility through a new online database, the BizSparkDB.

BizSpark is available to start-ups that are building a software-based product or service, have been in business less than three years, and have less than $1 million in revenue.

Under the programme, start-ups receive speedy, easy access to Microsoft’s current full-featured development tools, platform technologies, and production licenses of server products. They can use these immediately to develop and bring innovative and interoperable solutions to market with no upfront costs and minimal requirements.

Start-ups also receive professional support from Microsoft and BizSpark Network Partners around the world. Network Partners are incubators, investors, advisors, government agencies and hosters who are vested in software-fuelled innovation and entrepreneurship.

For more information:

About Barnaby Terry
Barnaby Terry is a venture capitalist who for the last 15 years has specialised in investing in early stage businesses in high growth markets in the UK, firstly with 3i plc where he was a senior investment executive and latterly as a director of London based Elderstreet Investments Ltd.

While at Elderstreet he co-founded Elderstreet Capital Partners, a £57m LP fund which specialises in early stage software, internet and IT services and, from 2003, was responsible for managing Elderstreet’s VCT and EIS funds, during which time Elderstreet VCT became the number 1 ranked VCT (source: Sep 2007). In addition, he was part of the senior management team that sold Elderstreet to Dresdner Kleinwort Wasserstein in 2000 and conducted an MBO of Elderstreet in October 2003. In November 2007, he sold Elderstreet Investments Ltd to a MBO team.

Barnaby joined Elderstreet in 1998 from 3i where he had led IT investment in the Thames Valley, being a founder member of its IT Group and delivering very strong returns investing in IT companies including Content Technologies (sold to Baltimore); OST (sold to Microgen); K-Net (sold to Telindus); LIS (sold to Symbol); and Integralis (merged with Articon).
With an undergraduate degree in Civil Engineering from Imperial College in London, an MBA from Erasmus University in Rotterdam, and a background in enterprise sales in the data communications industry, he has managed investments in well over 50 early stage companies, and has achieved a 35% IRR when investing in early stage IT, Tech and Services companies in the UK. Barnaby has considerable NXD experience and currently represents Elderstreet Capital Partners on the board of Edenbrook Ltd, an IT systems integration business, and Sift Ltd, a leading on-line professional community builder.
For more information:

Publisher Contact Information:

TiE UK (The Indus Entrepreneurs)
+ 44 (0)1865 811199

Company profile of TiE UK (The Indus Entrepreneurs)
Past press releases of TiE UK (The Indus Entrepreneurs).


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