With support organizations mushrooming across Pakistan, the future for budding entrepreneurs seems promising. In the past 4 years there has been an exponential growth in the number of incubators and accelerators which has catalyzed the growth of startups.
As the nascent entrepreneurship ecosystem exits its infancy stage, there is a dire need for capital investments. At present, these enriched minded entrepreneurs have a very few places to go to for VC and post-seed funding.
To facilitate these entrepreneurs, NEO Network has launched a Business Reality Show called Idea Croro’n Ka. The show is expected to go on air in March, 2017.
What is Idea Croro’n Ka?
Idea Croro’n ka is a reality show where startups will raise investments on live television. The investors who have stepped up to evaluate and invest in startups for Season 1 include:
- Salim Ghauri, Founder and CEO of Netsol technologies (Pvt.) Ltd
- Naeem Zamindar, Pakistan Country Director and CEO of Acumen
- Humayun Mazhar, Founder, CEO and Chairman at CresVentures
While this may be the core team, many additional investors may participate as the season progresses. The show covers a special feature where an expert brings their unique entrepreneurial experience on the table by advising the startups on their business models, financial models, market viability etc. And for the first season this expert is the Chairman of Punjab Information Technology Board, Dr. Umar Saif.
Dr. Saif, well known for catalyzing the entrepreneurial ecosystem in Pakistan, while sharing his views on the TV show said: “In Pakistan we need to develop a culture of entrepreneurship, with young people developing an appreciation, appetite and skill to dream up ideas and develop high-tech startups as viable businesses. This show is an important step to develop this culture and spread the germ of entrepreneurship in our youth.”
Segments of Idea Croro’n Ka
There are two other segments, ‘Himmat Karo Pakistan’ and ‘Pakistan k Superheroes’.
Himmat Karo Pakistan: People who are running their businesses and are struggling day in day out to earn a living, will be scouted and invited to the show regardless of their education or society status. Such entrepreneurs will be given a prize money to help them upscale their business.
Pakistan K Superheroes: Success stories of entrepreneurs will be covered to motivate and inspire the viewers.
Shark Tank of Pakistan
The concept of Idea Croro’n Ka is similar to a renowned American TV Series named Shark Tank.
- The entrepreneurs take the stage
- Identifies how much investment they are seeking
- In return for investment, how much stake in their company they are willing to give
- The entrepreneurs then pitch their ideas and await for feedback
The Chairman of Nai Baat Network, Dr. Chaudhry Abdur Rehman says,
“Since the past year, I’ve been seeing a new trend of startups in the youngsters of Pakistan. Being the Chairman of this network, I could see the potential and so decided to invest in this.”
Abdur Rehman contacted Nabeel Qadeer, who is well known for his work in promoting entrepreneurship through Punjab Information Technology Board’s platform.
Nabeel Qadeer has always believed in empowering the youth of Pakistan to make their own destiny, to become job creators rather than job seekers. Known as a game changer in the entrepreneurial industry, Nabeel looked at this as a golden opportunity to impact the ecosystem. Being a very experienced player, he knew exactly what the entrepreneurial landscape of Pakistan needs.
“This show is meant to act as a platform that bridges the gap between investors and entrepreneurs. Pakistan needs to redefine its definition of heroes. I believe television is the best medium to bring these young entrepreneurial geniuses into limelight. My aim is to work towards selling ‘hope and positivity’ amongst the nation and most importantly making Pakistan economically superior.” –Nabeel Qadeer, Anchor, lead and content producer of the show.
While this is a very different, one of its kind show in Pakistan, it can play a vital role in not just encouraging the local community to start investing in the startups but can accelerate the number of entrepreneurs in Pakistan.
While, sports, dramas, music, dispute & satire sells quite well on television, this show, for the very first time will be selling “Hope and Ambition” in Pakistan packaged in the form of the country’s first ever business reality show.
ICK – Round 1
An exciting full day of startup auditions was held last week. ICK received thousands of applications out of which 200+ startups were called for auditions. Startups participated from all over the country including but not limited to Gilgit, Skardu, Islamabad, Karachi, Sialkot, Rawalpindi, Faisalabad, Sahiwal and Lahore. The panel of judges who assessed the diverse range of ideas included Nabeel A. Qadeer, Anchor, Lead and Content Producer at ICK, Dr. Umar Saif, Expert Advisor at ICK, Mr. Mumtaz Wattoo, Creative Director of ICK and Ms. Sumaira Latif, Senior Producer of ICK. The diversity of ideas ranged from simple e-commerce to IoT. It was a hall full of passionate entrepreneurs who waited for hours to give their best shot at investment.
Now that this round is over, the audience is all in for some exciting startups pitching their way through investment. While some may leave all happy and thrilled with investment, others should not be disappointed for this does not only gives them the benefit of investment, but the startup gets a whole lot of eyeballs and serves as a great source of marketing their startup. By the time they go out, there may be a chance that they may get a lot of customers, mentor/investors may connect them with someone in their network for further guidance or growth and they also get a chance to get expert advice from professional entrepreneurs. So all in all, they’ve already won if they are selected for round 2.
First time in Pakistan, there is a show that is working on encouraging the Pakistani nationals to take the entrepreneurial route and set rules for their career path themselves. This one of its kind show is not to miss out on. Check out this space for more updates on Idea Croron Ka.