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TiE50 is a leading global tech awards programme

Singapore-based startup Innovation of Thingz has been declared a “TiE50″ winner of the prestigious TiE50 Technology Awards Program.

It was selected for its innovative smart parking app SurePark, which provides smart directions to drivers to select from a list of car parks in the neighborhood and also directs drivers to the available space, reducing their search and waiting time. The SurePark management dashboard equips carpark operators with useful analytics enabling them to make more effective management decisions.

Innovation of Thingz was chosen as one of the 70 out of over 2,000 companies that vied for the vaunted award. The companies were screened by a committee of 47 judges including accomplished domain experts, senior executives, venture capitalists, and marquee tech entrepreneurs.

This award will help to boost the IoT startup’s branding in the tech ecosystem.

TiE or The Indus Entrepreneurs (the founders came from South Asia, hence the name) is a pioneering entrepreneurial organisation that began in 1992 with the aim of helping entrepreneurs build their companies.

Since then, it has grown to 61 chapters in 18 countries across five continents, and claims a membership base of over 12,000. Among the programmes it hosts every year include its established TiEcon event, which has been running for 23 years.

Another prominent one is the TiE50 programme, which aims to put the spotlight on the “most amazing and disruptive technologies.”

“The TiE50 program’s track record since its inception in 2009 shows an overwhelming 92 per cent percentage of start-ups to get funded within one year of being recognised! About 130 Top Start-ups had successful exits so far,” said programme co-chair Karpagam Narayanan.

Innovation of Thingz was found in 2014 by co-founders Suchet Bhasin and Neil Mehta, and was incubated in NUS.

Check out the other winners of TiE50 here.

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