Idea Croron Ka Airs Inaugural Episode, Funds First Startup
5 months ago
On 17th and 18th of March we saw Pakistan’s First Business Reality show; Idea Croron Ka on NEO TV Network with the collaboration of Chaudhry Muhammad Akram Center of Entrepreneurship and Development (CMACED).
The first episode featured the introduction of all key players of the show including Nabeel A. Qadeer, Anchor, Lead and Content Producer of the show, Dr. Umar Saif, Expert Advisor, Humayun Mazhar, CEO Cres Soft, Naeem Zamindar, CEO at Acumen Pakistan and Salim Ghauri, CEO Netsol as investors. It also included the clips of launch event of the show and the auditions of 100+ startups who came to participate from different parts of the country.
On the 18th we saw the 1st episode of Idea Croron Ka, where the qualifiers of auditions pitched in front of the professional panel of investors and expert advisor.
The first startup to pitch was Affordable.pk. Wajiha and Kashan, the co-founders and also husband and wife, negotiated and convinced the investors with their startup idea of promoting reverse commerce where sellers can earn money by turning their closet into cash. It is a marketplace of qualified pre-owned items for buyer and seller of social community. Wajiha and Kashan asked for Rs. 1.5 crores against 15% equity but after an extended negotiation with the investors, they settled for Rs. 1 crore for 30% equity. This is a huge deal for the team, as with this amount they can scale their business to a great level and also get the guidance of 2 highly successful entrepreneurs/investors. It was a joint investment by Mr. Salim Ghauri and Mr. Humayun Mazhar.z
The other two segments were equally interesting. Himmat Karo Pakistaneo introduced a barber who worked very hard and learnt the skill of hair styling after years of practice and has set up a salon in Sabzazar, Lahore. He initially worked for someone else and had to work for 20 hours in a day, but all those hardships made him the skilled person he is today. Although he couldn’t get the money he was seeking but definitely got a lot of customers.
The other segment was Pakistaneo kay Superheroes. In this segment Qasif Shahid from Finja joined the show. He shared what all innovation he is bringing through the Sim Sim Mobile application; the new way of online payment. They are providing innovative and new methods for rolling out payment types, systems, platforms and buildup of the related ecosystems and much more.
The second startup was Eye Automate. Eye-Automate uses eye tracking to navigate a menu on the screen to help the handicapped in controlling things like wheelchairs, home lighting etc. Their ask was Rs. 15 lacs against 5% equity but couldn’t raise investment. However, they didn’t leave empty handed, rather left with some advice from Dr. Umar Saif, Nabeel Qadeer and the investors.
All in all the episode was a hit and sent out a positive image of Pakistan. This show will promote the actual heroes of Pakistan who are solving real problems through innovative solutions.
If you missed out on the episodes, you can watch them here:
Red Carpet Show | Part 01
Red Carpet Show | Part 02
Idea Croron Ka | Episode 01