TiE is a nonprofit organization promoting entrepreneurship. Their TiEQuest 2013 Business Venture Competition launched last month.
The multi-stage competition offers mentorship, networking opportunities, with angels and venture capitalists, $150,000 in prizes, and the potential to raise up to $1 million of funding.
TiEQuest 2013's chairman, Haroon Mirza, was a TiEQuest contestant in 2007. His company, CognoVision, finished as a semi-finalist in the competition, went on to be named Canada's 2009 Innovation Leader by the Canadian Innovation Exchange, and was acquired by Intel in 2010 for $30 million.
CognoVision's success doesn't appear to be an anomaly. Winners from the last two years—Rna Diagnostics (2011) and Simple Systems (2012)—have each raised $2 million in funding since their participation in the competition.
While the competition is based in Toronto, it is open to entrepreneurs across North America. The deadline to enter is January 31 at midnight.