Entrepreneurs Compete at State Level; Winners Advance to Global Competition

December 27, 2011 - TiE Ohio is pleased to announce an exciting business competition with a prize package
valued at $25,000 (consisting of cash and services) for emerging entrepreneurs. In addition to the emerging
entrepreneur prize, current entrepreneurs will compete for the chance to represent TiE Ohio at the global
TiEQuest competition in Toronto on April 11, 2012. There, they have a chance to win a prize package valued
at $150,000 and up to $1 million in investment. Current and aspiring entrepreneurs are encouraged to enter
the competition, which consists of three rounds of submissions: an executive summary, a video pitch, and a
business plan. Contestants may work with their current mentors or may be provided with a TiE Ohio
mentor. Coaching sessions and networking events are part of the competition process. Judges representing
the investment community will select three to five finalists to present at the competition in March 2012. For
the second year, Charter One will be the lead sponsor.

"We are thrilled to be able to encourage entrepreneurship, engage emerging entrepreneurial talent, and
create an ecosystem of entrepreneurship through this high profile competition," said Réka Barabás, Executive
Director of TiE Ohio. "TiEQuest is committed to providing mentoring and coaching to the contestants as
they prepare their executive summary, elevator pitch, and business plan. Entrants will receive feedback and
coaching from TiE Ohio entrepreneurs who are all volunteering their time to this initiative; finalists will
receive ongoing mentorship and connections as they develop their new enterprises."

"TiEQuest will definitely strengthen your business tools and put you in the room with potential contacts,
mentors, investors, and fellow entrepreneurs. It gives you a chance to hear much needed support for being
out there as an entrepreneur." Says Anthony Sterns of iRxReminder, winner of last year's competition. "The
preparation of each stage of the competition provided all the essentials required to put the business in front of
investors."

TiEQuest Business Venture Competition will accept entries from January 1, 2012 through January 31, 2012.
The competition is open to all foreign-born entrepreneurs or local born entrepreneurs with a significant
international element in their business. The Ohio finals will be held in March 2012. Ohio winners will
compete in the global competition to be held in Toronto on April 11, 2012. Full details are at
www.tieohio.org.

About TiE Ohio
The International Entrepreneurs (TiE) Ohio was founded in 2008 as the 50th chapter of the global TiE network, the
world's largest organization for fostering entrepreneurship. TiE Ohio is poised to fulfill a critical niche in Ohio's
business development landscape by focusing specifically on immigrant, international, and minority entrepreneurs within
the region, and by encouraging other such entrepreneurs to consider the region as a place to launch their businesses. TiE
Ohio provides focused support to entrepreneurs through mentoring, networking, and business education programming.

Learn more at www.tieohio.org.

Contact: Réka Barabás
Executive Director
216-929-0677
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