The Indus Entrepreneurs Toronto Association (TIE Toronto) is a non-for-profit organization created for the advancement of entrepreneurship in GTA. TIE Toronto has over 40 chapters and 8000 members worldwide.
TIE Toronto started in 2000 and now has 400 aspiring entrepreneurs and 53 Chartered members who are successful entrepreneurs.

TIE started in Silicon Valley in 1992 by a group of successful entrepreneurs of South Asian origin. They sold their business, had time and wanted to give back to the community so 5 founders formed the group.
During a meeting with President Suresh Madan, Generation Next was introduced to not only his own struggle and success but also to the wide networking platform provided by TIE Toronto.
Suresh Madan is an industrial engineer with an MBA. He came from India about 12 years ago. He is well aware of investments in stock market and advises early stage companies with emerging growth.
He came to Canada, well-prepared to face the challenges and well-armed with credentials such as CFA. As soon as he landed here, he utilized the power of networking by seeking the CFA related people and made his way, “As soon as I landed here I connected with the CFA network, met some people who had similar qualification as mine. Took leads from them and found a multibillion family who were looking for someone with my set of skills.”
He is currently working for Excalibur that was introduced to him through networking as well, “I was introduced by that family, so it was time for me to move onto a next venture.”
His passion to work with new business ideas got him involved with TIE Toronto about 5 years ago. At TIE, “ We do a competition, we do mentoring, we organize seminars and also evening workshops.”
TIEQUEST, an annual competition to present new business ideas was at early stages when Suresh joined. They had 30 participants and $10,000 prize money.
Suresh started looking at several templates of similar competitions around the globe to search a format that would work best for TIE QUEST.
He recalls that the initial model of TIE QUEST was basically based on the presentation skills of the presenter rather than the concept of the presented business idea, “Somebody who presented well, even when the concept may not be very sound would, score higher, simply because of the presentation skills. Business requires communication skills, but communication skills are only one part of the whole equation. You need to have a sound idea. You need to research your product area thoroughly.”
So, to improve the competition, 5 different phases were introduced to the competition. In each phase the contestant will present in a different format and then the judges will have the opportunity to access them over different phases and decide which a better venture is.
For contestants to participate, it became a lot of work and it had to be a bigger and better competition. So, various sponsors were gathered and the prize money was increased.
The competition is spread over 5-5 months of time and is very challenging. To help the participants, they are provided a guide in form of mentors.
The entire structure of TIE is to engage mentoring, where the successful entrepreneurs who have done and established their ventures give their time to help new entrepreneurs, “So when we get about 200 participants in the competition, we try to match them with an industry expert from that area.”
The feedback from the participants show that the quality of the presentation improves over these 4-5 months, their own concept of business substantially changes and improves over this time, simply because they have had an opportunity to meet somebody who has had similar issues in the past and have found a way to resolve it.
To join TIE Toronto, there is a $50 annual fee for a student and $100 fee for non-students but if anyone participates in TIE Quest, the membership fee is waived for the first year.
TIE has members ranging from recent university graduates to successful well-established entrepreneurs. So TIE provides a platform to tie the youth with the experience of the successful elderly. Although, TIE does not provide direct financial assistance, through networking and various seminars they facilitate it by introducing the members to various investors.
Mr. Madan proudly talks about the success stories, “we have 14 success stories listed on our website who are our members. In fact 4 of our past participants, actually sponsored the competition in future.”
The same battle of sexes is also reflected at TIE Toronto, Mr. Madan says, “We have not tracked the statistics properly but we need to encourage female participation. I am a little bit disappointed with female participation.”
Furthermore he says that you do not have to be from a business educational background to be an entrepreneur, “We are surprised ourselves, people from MBA background are less than 25%. We see wide range of educational backgrounds and even some non-degree students.Last year in the competition that concluded in April 2009, we had 29 MBAs, 20 PHDs, 23 engineers, 1 JD, 3 MDs, 1 Chartered Accountant and 3 BBA’s.”
Moreover, it is common to see entrepreneurship as a second career in lives of most members, “Almost 2/3rd of our participants are non-students. We have a separate category for students for which only 1/3 were eligible. So, almost all of these non-students are thinking this as their second career. Some of them are moving from one business to another.”
Finally, he says that TIE Toronto is doing its best to increase their membership by keeping in contact with various universities through their programs such as the Entrepreneurial Program at Ryerson, York and Rotman School of Management at UofT. Also, they work with Ministry of Small Businesses in Ontario and partner with organizations such as impact.org.
Author: Saniya Zahid