Nabeel A. Qadeer opened the program by sharing how much prevalent hacking is and how costly it can prove to be. He mentioned that after every 5 seconds a website is hacked. He quoted the example of the world famous Yahoo Inc as a cautionary tale – how Yahoo’s value dropped from $80 billion on the stock exchange – when few of their passwords were hacked.
It was finally time to move on to the show.
- Abdul Rehman Talat – CEO BlueEast
- Rabeel Warraich – Founding member and partner at Sarmayacar
- Naeem Zamindar – CEO at Acumen Pakistan
Next up, it was time to introduce the first startup on Idea Croron Ka.
Startup – Veiliux
Even though technology is playing a huge role in facilitating everyday work, it is also giving air to crimes like hacking, fishing scams and identity theft. However, there are people who are working towards anti-hacking software. This includes a Pakistani startup by the name of Veiliux.
The founder of the startup; Shahmir Amir appeared on the show to secure investment for his startup. Shahmir is ranked amongst the top 3 ethical hackers in the world. His idea was to provide Pakistan with the best cyber security. He was looking for Rs. 3 crore against 20% equity.
Investors asked him questions on the total sales, number of customers, demographics of customers and the exit strategy. Abdul Rehman said he lost interest because Shahmir was not able to justify his numbers and valuation.
Rabeel stated that it will be better if Veiliux has is backed by a larger company, otherwise it will always be battling with giants in the market.
Naeem was interested in what Veiliux had to offer but he also believed the risk was high. He offered to invest Rs. 5 million for 20% equity.
In response, Shahmir proposed that he wants Naeem’s guidance, mentorship and network and he won’t take the money. To this, Abdul Rehman said that if he wasn’t looking for money, he wasted a chance that somebody else could have gotten. Shahmir then said he is willing to give 10% of equity against the intangible assets.
All three investors pitched in all the intangible assets they can offer against 10% equity. Naeem agreed and Shahmir opened the offer to the other two investors as well. All the three investors came on board.
Pakistaneo Kay Heroes – Arfa Kareem Randhawa
There are very few children who can take the role of a superhero at a very young age. She is not within us anymore but Arfa Kareem at the age of 9 became the youngest Microsoft Certified Professional. She even had the honor of meeting Bill Gates – the founder of Microsoft in her lifetime. Tragically, her life was cut short. She passed away when she was just 16.
Her parents appeared on the show to share Arfa’s short yet inspiring journey. Her father shared that they realized her special gift at a very young age of 1.5 years.
They knew she was special. Arfa’s mother shared that she always had to be 2 steps ahead of her as she was quite intelligent and sharp. It’s always difficult to guide and put such children in the right direction. Dr. Umar Saif shared his memories with Arfa too. Arfa used to work at Dr. Saif’s lab at LUMS for 3-4 hours each day and during all this time, her mother would wait for her in the parking lot.
Rabeel commended her abilities. Naeem said it was an honor to be meeting the parents of such an inspirational figure. Abdul Rehman Talat added that it was not only Arfa who was the inspiration but her parents are also an inspiration for other parents as to how they should be bringing up their children and how daughters should be empowered.
Himmat Karo Pakistan – Zahida Kazmi
The show introduced Zahida Kazmi, a brave woman who became a taxi driver at a time when many women opted not to choose that profession, This was during the time when the yellow cab scheme was introduced back in 1987 after her husband’s death. Ever since then, the now 58 years old Zahida has been driving that taxi and offering pick and drop service to school children.
This is how she was able to earn for herself and her children. Her aim was to earn through right means and provide quality education to her children.
Apart from this, Zahida shared that she gets up every night at 2 pm and makes fast food items to sell every day and earn money which she may use for her daughter’s education.
Startup – PetsOne.pk
PetsOne.pk is a portal that provides online pet food items and accessories for pet owners to buy. This startup is the brainchild of Jawad, a veterinary doctor who came up with this idea during his graduation.
The startup also provides guidance on how pets should be taken care of. They have 2 veterinary doctors on board who provide clinical services at your doorstep and 5 riders who help them with delivery and other operational services.
Dr. Javaid came to ask for Rs. 80 lacs in investment against 30% equity. Through this investment he was looking to gain the sales and marketing experience that the investors may have to offer.
Investors asked him questions regarding the market size, how the startup approaches the veterinary doctors to bring them on board, average basket size, orders per month, gross profit and net profit margin. Naeem pointed out his mistakes that he does not have complete information on his customers and market which does not give the investor the confidence to invest.
Abdul Rehman clearly stated that it is important for a startup to know their numbers as they are working in a digital world and not maintaining a manual record. Dr. Saif suggested to Jawad to make a veterinary marketplace as veterinary doctors do not have much employment opportunities available and this will act as a competitive advantage. Abdul Rehman Talat was not convinced and opted out of investment.
Rabeel advised Jawad to tweak the business model and think of incorporating a commission-based model where people can demand vet services. He also said, if he can show some traction after this, he might reassess and revisit the proposition but right now he is not willing to invest. Naeem mentioned the space is interesting and the market is huge but he needs to work on building a team.
With that, Idea Croron Ka’s recent episode came to an end.