Mobilink, under the umbrella of its “Make Your Mark” initiative, has partnered with LUMS Center for Entrepreneurship (LCE) to contribute towards the strengthening of startup ecosystem in the country.
Mr. Omar Manzur, Senior Director for Corporate Communications at Mobilink, while speaking with ProPakistani, said that his company had extended monetary support of $45,000 in cash to LCE to sustain its incubation facility for its recent batch of 15 startups.
Omar told me that the primary aim behind the program is to help Pakistani startups get best-in-class mentoring facilities through professional coaching from Mobilink staff and qualified domain experts available within LCE.
While Mobilink’s partnership with LCE is non-exclusive, Omar said that decision for going with LCE was based on an extensive research exercise throughout Pakistan that Mobilink carried out earlier this year to identify a potential partner.
“After evaluating multiple options, we found LCE as best run and best managed incubation programs to go with”, said Omar Manzur.
Since LUMS Center for Entrepreneurship began its program, it has mentored and groomed over 80 entrepreneurs and the startup businesses have created a total of over 120 direct and 350+ indirect jobs.
Startups get exclusive access to Mobilink staff from various departments and functions for top-notch business advice
The combined annualized revenues of the startups based in August 2015 was around $250,000. These startups have also raised nearly $600,000 in investment from local and foreign investors.
In addition to monitory support, the program provides these startups — that are selected by LCE through a rigorous qualification process — all sorts of business advice from Mobilink staff from various departments and functions.
“So for instance if you need any legal advice, or help in marketing, or a technical know how of any technology, we have specialized staff available at Mobilink to offer top-line input to these startups to help them prepare for the real world”, explained Omar.
Part of the donation also goes towards a monthly stipend for the startups to take care of basic needs of individuals and teams registered with LCE.
Omar said that Mobilink will continue to invest in local startups during years to come. However, because its partnership with LCE is non-exclusive, the company could join hands with other incubators for a similar or even better collaboration during the months to come.