If you have a great business idea/startup, Pakistan Startup Cup may be the chance you need to take your business to the next level.
We cannot deny the role of Entrepreneurs in building an improved economy. Entrepreneurs can change the way we live and work. Not only do their innovations often improve our standard of living, but their ventures also create wealth and jobs, eventually contributing to a prosperous society.
Owing to this, Pakistan Startup Cup, organized by The Indus Entrepreneurs Islamabad Chapter, US Embassy Pakistan, and GriffinWorx, is continuing its work to empower aspiring entrepreneurs around the country to design, test and build innovative businesses. The way startups are formed is rapidly changing. Today, entrepreneurs are rewarded for going to market fast, securing customers, and generating revenue as quickly as possible. The startup cup’s focus is to facilitate this process and ultimately your success.
Startup Cup is a locally driven business competition open to any idea. This innovative community-based approach is designed to increase the quality and quantity of entrepreneurs in the community and is tried and tested in silicon valley, and 45 countries around the world. The competition that kick-started in 2013 saw more than 5000 startups participating and getting coaching from seasoned mentors over five editions.
The nationwide competition launched in Islamabad, Lahore, Peshawar, Quetta, and Karachi provides participants the experience of a lifetime as well as exposure that is hard to come by during the competitions and mentoring sessions. Every stage of the competition gives them a chance to win prospective partners and equity investments for their business ideas regardless of winning or not winning the announced prize money.
During the mentoring-driven challenge, startups competing in the Startup Cup are transformed into investment-ready businesses as they build their business or take an existing one to the next level. The competition offers Rs. 3 million as prize money. It requires participants to develop a solid business model based on accelerated go-to-market strategies and bootstrapping techniques.
Zeeshan Bin Shahid, Executive Director, TiE Islamabad Chapter says,
The launch of the sixth edition of Pakistan Startup is a testament to the program’s ongoing success and the huge interest it has gained among entrepreneurs, investors, and stakeholders. I believe Through Startup Cup, we have empowered thousands of innovators and business builders over the past few years. This time too, we are looking forward to seeing what the new lot of entrepreneurs with amazing ideas.
Since its inception in 2013, the Cup has attracted the best startups from across the country. In fact, some of those startups went on to create waves internationally which speaks of the immense talent in Pakistan, and the coaching Startup Cup provides. Winners of previous editions of the Pakistan Startup Cup have emerged as major players in the startup ecosystem in the country. These include Cowlar, Deaftawk, Patari, Ghar Par, Nano IT, PriceOye, Orbit, and WifiGen to name a few. Cowlar, then went on to win investment from celebrity investor Ashton Kutcher as well.
So, how does it work? Aspiring entrepreneurs from all over Pakistan submit their business idea. Shortlisted businesses are invited to the Kick-Off Extreme Build-A-Business event in their respective cities where seasoned mentors, consultants, executives and thought leaders coach and mentor the participating businesses. The Top 25 most promising teams are selected to advance into the competition.
Businesses competing in the Startup Cup will gain access to business leaders, investors during tailored coaching sessions, networking events and the grand finale where the winner will take home Rs. 1 million. Besides that, the competing businesses will receive additional support including tailored coaching, mentoring, visually driven business building tools, and more opportunities to secure potential future funding.
This year, Pakistan Startup Cup is going to be bigger and better than ever before. It is now inviting aspiring entrepreneurs from around the country to participate in the competition and get the help they need to launch their projects.
For more information on Startup Cup Pakistan, please visit their website!
If you still haven’t submitted your idea, apply now before 5th January!