Another Saturday, another interesting episode of Idea Croron Ka.
People anxiously wait for young entrepreneurs to pitch their ideas and are inspired by how the young lot is working hard to make themselves self-sustainable and make Pakistan a better place to live in.
At the start of this episode, Nabeel Qadeer mentioned that in the past 5 years, Pakistan has attracted $ 150 million of investment in startups; both tech and non tech.
For the 4th episode, the panel of judges also included a German investor Jonas Eichhorst amongst others including Abdul Rehman Talat – CEO BlueEast and Director Marketing Orient and Monis Rahman – CEO at Rozee.pk.
Mr. Jonas, after a year of research, created a private equity fund of around $50 million particularly for Pakistani startups by the name of Ahurani Capital. He wants to invest in Pakistani startups and it will be interesting to see how it all pans out in Idea Croron Ka.
IBEX Pitches Its Idea
Abdul Ahad and his co-founder were the first entrepreneurs to pitch their startup in this episode. The startup IBEX is a premium leather handcrafted footwear brand.
They are producing customized high quality international standard shoes with the help of local craftsmen using international techniques and Italian leather. Customers from anywhere from the world can order these on their online portal and the shoes will get delivered in just 14 working days.
To help them make this brand the Bali of Pakistan, they asked for Rs. 9 million against 15% equity. Abdul Rehman appreciated them for their rehearsed pitch. Investors asked them questions regarding their team, their unique selling proposition, their experience, their design sense, pricing strategy, revenue stream and their projections and future plan.
Unfortunately the co-founders were not able to convince the investors with their investment ask. While they liked the shoes, they were skeptical about their business model.
Pakistan Kay Superheroes
Next up, we had the Pakistan kay Superheroes segment of the show. Featured in this episode was Khadija Siddiqi, a law student who aims to fight for the rights of women.
Khadija’s tale is one of her overcoming tragic odds. She was stabbed by her class fellow 23 times which she not only survived but fought her case in court for a year and won it too.
She is right when she says nothing can justify violence. She had complete support from her parents and together they fought through this difficult time. Despite being mentally and physically tortured she was adamant on her stance that the criminal shall not be left unharmed and that she will continue to fight for justice.
She has set up a scholarship program with Blackstone School of Law for deserving students who want to earn a law degree from University of London. Investors appreciated her for her courage and for being an inspiration for all others.
TradeFox Makes Its Pitch at ICK
Last pitch of the show was TradeFox who are educating people regarding online trading and investments through which they can earn 4-5% more per month than earning from the banks. Usman Shahid Dar, the founder of this startup was selected in Careem auditions by Monis Rahman.
The investment ask for this startup was Rs. 60 lacs against 20% equity. Investors and Dr. Saif asked questions like how they are better than other competitors in the market, the amount of revenue generated, tools used for educating people, where did he get the education for this and how much return he got on the investments he has made.
Investors had concerns that the scalability ratio would be too slow, and that the business model was not attractive enough. Last but not the last, the investors agreed that the startup needs to focus on one particular domain. All three investors passed on the offer but Jonas gave Usman an offer to come and discuss this with him further so he can mentor him in the right direction.
Nabeel closed the show by chiming in that even though there was no investment made in this particular episode, however ICK’s aim is not only to help startups raise investment but also to help people understand how startups work. He concluded that after watching the 2 startups, the investors are looking for ambitious people, realistic but ambitious.
You can watch the complete episode here:
Nabeel Qadeer while commending the efforts put in by NEO and CMACED, said:
“This show has gained popularity amongst the nation and has indeed spread a ray of hope and positivity. Keep watching and keep supporting such initiatives that work for the betterment of the country.”
Dr. Umar Saif, the Business Adviser on the show, shared his experience at Idea Croron Ka and said:
“This season, I can see startups are more refined in their pitches. They are more aware of their passion and I can clearly see that this is only going to get better from here onwards.”
Watch Idea Croron Ka every Saturday at 7:05 pm on NEO TV Network.