"Lack of mentoring is the key reason for dot-com failures in the UK - and it isn't set to get better any time soon", is the charge from the President of TiE UK. The organisation which represents The Indus Entrepreneurs (TiE), boasts members that have founded some of the world's largest companies: Sun Microsystems, Exodus and Sycamore, now collectively worth some $265 billion dollars.

The UK branch of this American led organisation was launched in October 2000 and the first event it organised was "Funding for Business".

About 200 members listened to a panel of Venture Capitalists in the very "bricks and mortar" Grand Hall at The Institute of Civil Engineers in London on December 6th 2000.

Then panel chaired by Julie Meyer founder of First Tuesday and a recent winner of the Ernst & Young Supporter of Entrepreneurship Award; included presentations from Salim Nathoo of Apax Ventures and Rick Bolander of Gabriel Venture Partners. Questions were also fielded by Ms Saba Nazar of Goldman Sachs and Andrew Noble of Antfactory.

The event, which was reminiscent of the early days of First Tuesday, hoped to encourage Asian Entrepreneurs in the UK to build global, billion dollar companies in the high technology and telecommunications arena.

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Tom Singh of New Look outlined the draft plans that TiE have on how to implement Mentoring for the group in the UK. In the US, through mentoring budding entrepreneurs TiE has helped created businesses worth more than $75 billion dollars. The organisation also claims to be one of the world's most successful networking organisations.

Leading successful UK entrepreneurs form the UK chapter led by Apurv Bagri of MetDist, Harpal S Randhawa of Antfactory, Tom Singh of New Look, Dinesh Dhamija of eBookers, Shami Ahmed of Joe Bloggs, Jayesh Manek of Manek Investments and Nishit Kotecha of Lehman Brothers.

TiE is a non-profit network of entrepreneurs established originally in Silicon Valley and which now has 16 chapters (1 UK, 9 US, 1 Canada and 5 in India). Worldwide there are about 600 Charter Members and approximately 8,000 members. Its philosophical base embodies the ancient Indian tradition of Guru/Chela or Teacher/Disciple. This, it claims, gives rise to a very productive mentoring relationship between experienced and budding entrepreneurs. Whilst the organisation may be a non-profit network, individual mentors are also free to take a stake in new start-ups that they guide.

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In the harsh trading climate and current disillusionment with the Venture Capital funding process in the UK, members at the December event questioned the financial models used by such firms. Also under scrutiny is whether the US mentoring model can work in the UK. Apurv Bagri, President of Tie-UK says, "TIE seeks to foster entrepreneurship in itself. Our Charter members are some of the most successful in the world at what they do - which is to build world-class businesses. Yet it is precisely this type of experience that new dot-coms, despite being heavily funded, lack".

TiE-UK will continue to build on the theme of funding in future meetings, focussing on alternative sources such as Business Angels. Cold comfort for those businesses already resting with the heavenly angels!

Click here to visit the TiE-UK site.

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