Start-ups launch diverse, high-impact solutions at NICL, LUMS

At the culmination of its eighth cohort, the National Incubation Center Lahore (NICL) at LUMS held its flagship Investor Summit, bringing together seasoned investors, inspiring entrepreneurs, and corporate innovators.

“We have now graduated eight cohorts from Lahore and Quetta in a short period of time, by dynamically adapting to extraordinary circumstances, transforming our offering, and launching several new initiatives such as programmes in partnership with Saarland and Stanford,” said Saleem Ahmad, Chairman NICL and NIC Quetta. “At the Investor Summit today, I am proud to see the transformation and growth in these remarkable young entrepreneurs. Our aim at NICL is to continue supporting such talent and connecting with industry and academia to generate lasting impact,” he added.

The 13 start-ups graduating are a diverse set of high-impact ventures, including QBio, establishing Pakistan’s enzyme biotechnology company; Dawa Asaan, Pakistan’s first smart pharmacy delivering pre-sorted medicines; Peervest, a digital equity-based crowdfunding platform that connects tech-enabled start-ups with eligible investors; Loading Champions, a complete learning, coaching and recruitment solution; and Heirloom, that produces artisanal, sustainable and responsibly produced goods with elevated aesthetics. In the past, NICL’s graduating start-ups have gone on to raise funding after pitching at the Investor Summit; KalPay, a shariah-compliant BNPL service have already closed their pre-seed round via an angel investment of $100,000 and are in the process of finalising their next round of funding.

Attending the Investor Summit and offering valuable feedback were an esteemed panel of investors and entrepreneurs from across the ecosystem, including Aatif Awan (Indus Valley Capital), Badar Khushnood (P@sha), Qasif Shahid (Finja), Salman Khalid (Chogori Ventures), Ali Farid Khwaja (KTrade.pk), Omair Ansari (Abhi), Usman Javaid (Ricult Inc.), as well as Yusra Solangi (Zayn Capital) and Shakaib Naqvi (Zayn Capital). Representatives from Engro Corporation’s energy team were also present to provide perspective on sustainable solutions and corporate innovation.

Speaking at the occasion, Badar Khushnood, Chairman P@sha and member of NICL’s Foundation Council observed, “The diversity, depth and professionalism of start-ups at the Investor Summit is heartening to see. Despite challenges posited by Covid, NICL has been able to build the right pipeline of start-ups and mature it effectively. I’m delighted that each pitch I saw today, reflected the right vision, exposure and confidence.”

Start-ups presenting at the Investor Summit undergo a rigorous six-month long programme, with in-depth training in Design Thinking, Law, Strategy and Business Modelling, Market Research, Communications and Entrepreneurial Finance. In addition, they receive one-to-one mentorship from industry leaders in their domains.

The Center is now gearing up to welcome its ninth cohort, with ideas that solve problems in high-impact verticals across Pakistan. Representing fintech, Aamdani, a start-up founded by LUMS students, promotes earned wage access; Cashmail, founded to help ease chronic poverty, works on loan disbursement and recovery with the microfinance industry; whereas Zarai Zambeel provides digital financial solutions and services for farmers.

Other ideas include Gamma Green Recycle which helps recycling through cash incentives, SAY Global, that works on solving mental health and speech impediment issues, and Ebilty, which connects transporters with customers and provides end to end solutions.

Pakistani start-up wins first place across South Asia in maiden Stanford SEED Spark Program

National Incubation Center (NIC) Lahore at LUMS nominated start-up Codeschool.pk has won top laurels and a cash prize in the capstone business pitch competition in the Stanford Seed Spark Program for high-achieving entrepreneurs across South Asia. This was the inaugural cohort from Pakistan, and was introduced by NIC LUMS.

“Our partnership with Stanford SEED Spark reflects our confidence in Pakistani entrepreneurs and their ability to compete with the very best talent globally,” said Saleem Ahmad, Chairman NIC LUMS Lahore and Quetta at the graduation ceremony of Stanford SEED Spark’s inaugural cohort in Pakistan. “Our conviction is reinforced by the fact that all of NIC LUMS mentored start-ups made the top 20 finalists and have brought home much pride in also winning the top position across South Asia.”

83 ventures participated in the program, from across 17 collaborating institutions such as IIT Bombay, TiE Chennai and CII-Young Indians. The competition selected only the top 20 graduates as finalists. After a rigorous scoring process, the top three start-ups were selected to win a cash prize as well as a virtual showcase feature in the global Stanford SEED Spark gallery.

“Our collaboration with NIC LUMS for Spark’s maiden cohort in the Pakistan start-up ecosystem has been a great experience,” said P. R. Ganapathy, Regional Director, Stanford Seed South Asia. “We are thrilled to see the energy and enthusiasm that NIC LUMS nominated entrepreneurs brought to the program. We are looking forward to meeting more innovators and problem solvers from Pakistan to apply and make best use of a word-class online entrepreneurship program at their own pace and time.”

Speaking about her journey with the program, co-founder Sadaf Rehman commented, “The Stanford SEED Spark Program was instrumental in helping us articulate our vision. The frameworks, expert sessions, as well as the one-on-one mentorship provided just the right mix to propel us beyond what we could have achieved on our own. I am deeply grateful to NIC LUMS for introducing this program to Pakistan, and for the networking opportunities and support that they have provided along our journey.”

Her venture, Codeschool.pk, provides fun, interactive coding classes to children aged six years and up, with the aim to promote critical 21st century skills like problem solving, creativity, and resilience. Within the first year of operations the startup is reaching over 450 students in ten countries. She was mentored by LUMS alumnus Adeel Saya, Program Manager, Google in Zurich.

Another NIC LUMS backed entrepreneur, Malik Waleed Tariq, founder of XStak, also made the top 20 finalist list. His venture is an all-in-one, self-service Retail Operating System that enables retailers to perform omnichannel commerce, marketing, payments, and business intelligence operations on a transaction-based pricing model. He was mentored by another LUMS alumnus, Ali Almakky, Strategy and Operations, JPMorgan, London.

Haris Anwaar, AWS Finance, Amazon, (Seattle) also joined the NIC mentors list with a start-up in the top 20 finalists.

The Stanford SEED Spark Program is a four-month training for early-stage entrepreneurs in traction or growth stage and seeks to empower them with practical tools to refine and develop their businesses through an action-based curriculum, networking opportunities with peers, one-on-one mentorship, and live expert-sessions. NIC LUMS brought the Stanford SEED Spark program to Pakistan and will be expanding it nationwide, with the second cohort due to begin in March 2022.

The Program is one of three academically supplemented training opportunities provided by NIC LUMS. Its Foundry Program is driven by LUMS’ curriculum and taught by the University’s faculty, and has recently launched the Entrepreneurship 101 program in collaboration with Germany’s University of Saarland.

Carrefour boosts its investment in Pakistan to PKR 10.5 billion with The Opening of its 10th store

Carrefour inaugurated its tenth Pakistan store at Gujranwala with an investment of PKR 1 billionThe investment from

Carrefour’s owner and operator, Majid Al Futtaim, will provide economic support to 170 households

Carrefour, owned and operated by UAE-based Majid Al Futtaim in Pakistan, has added a further PKR 1 billion rupees to its current investment of PKR 9.5 billion in the country with the inauguration of a new hypermarket in Gujranwala.

The new standalone hypermarket was inaugurated today, in the presence of Syed Fakhar Imam, Federal Minister for National Food Security & Research, Thierry Joulin, Chief Operating Officer Majid Al Futtaim Retail, Umer Lodhi, Country Manager of Carrefour Pakistan.

With the opening of its 10^th store in Pakistan, Carrefour has expressed its great confidence in the country’s retail sector and underlined its desire to support the growth and prosperity of the communities it is a part of. Flags of the UAE and Pakistan were hoisted at the event by the chief guests to mark brotherly relations between both the countries and the realisation of shared growth objectives. This was preceded by a tour of the 15,000 sqm premises that will provide the community of Gujranwala with an elevated shopping experience.

Through its offering of over 25,000 products in the categories of consumer goods, fresh foods, electronics, home accessories and others, Carrefour Pakistan will bring convenience to the daily lives of shoppers and provide economic support to 170 households in the city through job creation and local sourcing of products.

Speaking at the occasion, Umer Lodhi said: “We stand by our commitment of providing support to the local economy through our expansion plans and the opening of this hypermarket in Gujranwala is a reflection of this commitment in action. It is also a moment of great pride for us as we play our part in the economic revival of the country alongside the Government of Pakistan through the achievement of shared objectives, including sustainable community development.”

Working with more than 700 partners from across Pakistan, Carrefour continues to support and source from local producers. Committed to helping drive Pakistan’s economy forward, Carrefour continues its journey of growth, strengthening partnerships, and providing innovative retail services to shoppers.

In addition to the convenience of in-store shopping for quality products at its ten stores in Pakistan, Carrefour also offers its delivery service through the Carrefour Pakistan app to provide customers with another option for how to shop. The app can be downloaded from the Google Play Store and Apple’s App Store.

Drama serial sang-e- Mah,s Special Screening in Cinema Takes Karachi by Strom

Drama serial Sang-e-Mah has perhaps gained the most popularity and hype of all 2022 dramas before even airing. Scheduled to air on HUM TV on January 9, a private special screening of the director’s cut was held for the cast and crew along with media and entertainment fraternity.

HUM TV’s latest drama Sang-e-Mah, which is under the MD Productions banner and direction of Saife Hasan with a stellar cast, seems extremely promising. Sang-e-Mah’s star cast has a mix of old and new faces, such as veteran actors Sania Saeed and Nauman Ijaz,alongside the talented Hania Amir,Kubra Khan, and Omair Rana; whereas the globally beloved singer Atif Aslam and Zaviyar Nauman will both be making their television acting debuts in Sang-e-Mah.

The plot of Sang-e-Mah revolves around a Pukhtoon family belonging to the tribal areas of Khyber Pakhtunkhwa. The story is an exciting blend of drama, romance, deceit, ego, and sacrifice.Fans are super excited to see how the characters of Marjaan Khanplayed by Nauman Ijaz and Zarghunaplayed by SaniaSaeed develop, and how their favorite singer Atif Aslam takes on the role of Hikmat who will be romantically paired with Gulmeena played by HaniaAmir.

The special screening of Sang-e-Mah’s director’s cut was an elaborate affair, with the director and cast in full attendance, along with CEO HUM TV Duraid Qureshi, CEO MD Productions MominaDuraid, President HUM Network Sultana Siddiqui, and celebrities namely Ali Rehman, Aijaz Aslam, Nausheen Shah, Hira and Mani, Mashal Khan, and Osama Tahir who enjoyed the screening, and were super excited for the first episode to air on HUM TV on January 9, 2022.

An interactive press conference with the audiencealso followed the special screening of Sang-e-Mah’sdirector’s cut, on the same evening, where the cast and crew talked about their respective roles in the drama.

Speaking on the occasion,“It’s an unconventional story set in the North of Pakistan about ‘Ghag’, a custom that has ruined the lives of several women. Sang-e-Mah attempts to shed light on the repercussions of ‘Ghag’ and discourages the use of this custom”, commented MominaDuraid, CEO MD Productions & Creative head HUM Network.

PITB and Sweden-based Nutty Ventures Join hands to Promote Pakistani Startups in Sweden

Punjab Information Technology Board (PITB) and Sweden based Nutty Ventures AB have signed an MoU at Arfa Software Technology Park in order to work in collaboration for the promotion of local startups.

The ceremony was presided by Punjab Provincial Minister for Higher Education & Information Technology Raja Yassir Humayun Sarfraz along with Chairman PITB Azfar Manzoor. The MoU was signed by PITB DG e-Governance Sajid Latif and Nutty Ventures AB Strategic Advisor Naim-ul-Abd on behalf of their respective organizations. Senior officials from both organizations including PITB Joint Director Hammad Bin and Head of Freelancing Wing Ahmad Islam Syan were present at the event.

According to the MoU, PITB and Nutty Ventures AB will collaborate to provide increased exposure to Pakistani startups in Sweden, create tailor-based coaching opportunities for Pakistani startups, strengthen acceleration programs and build opportunities for international investors and venture capital funds for Pakistani startups.

While speaking at the ceremony, Raja Yassir Humayun Sarfraz said, “Government of the Punjab envisions technology as an engine of economic growth as ICT interventions are opening new frontiers every day especially for freelancers and aspiring entrepreneurs. Our aim is to provide best-in-class coaching to startups so they can compete at an international level for visibility and necessary funding for accelerating growth. I value this partnership because it will provide exciting opportunities to our local startups and will further strengthen PITB’s existing programs in entrepreneurship and freelancing domains.”

PITB is fully committed towards inculcating the culture of tech entrepreneurship and achieving sustainable growth by grooming early stage startups to transform into commercially viable technology companies. PITB is already running a number of initiatives aiming to empower young entrepreneurs, startups and freelancers through programs such as Plan 9, National Freelance Training Program, e-Rozgaar and e-Earn.

Chairman PITB Azfar Manzoor said, “Pakistani startups have made their mark in the global arena which is manifested through an increase of over 300% in the funding raised by local startups during 2021. In line with the vision of the government, PITB’s entrepreneurship and freelancing programs are not only facilitating the youth of Punjab through incubation and skills development programs but are also helping them in creating the much-needed linkages with the foreign investors and venture capitalists.”

“It is worth mentioning that PITB is running a range of successful incubation and freelancing programs not only in Punjab but in other provinces as well.” he added.

Nutty Ventures AB, which is currently running a Sweden-wide accelerator program, has extensive experience and network in the Swedish startup, impact, and funding ecosystems. “Since we are experiencing rapid change in global trends in the entrepreneurship ecosystem, we need to eliminate traditional hierarchies and structures which are huge bottlenecks. Nutty Ventures will leverage the power of global best practices to create meaningful impact for PITB-backed startups,” said Nutty Ventures AB founder and CEO Mehkar Sheikh.

Sweden is one of the leading countries in the world in innovation, startup activity. According to a latest report, Stockholm currently has the highest number of tech unicorns per capita in the world after Silicon Valley.

ABL and Pakistan Freelancers Association (PAFLA) have partnered to support, shape, and facilitate the freelancers’ community of Pakistan

Allied Bank (ABL) has always strived to be the industry leader in terms of technology and innovation. It is in this spirit that ABL and Pakistan Freelancers Association (PAFLA) have partnered to support, shape, and facilitate the freelancers’ community of Pakistan in line with the State Bank of Pakistan’s vision to promote financial inclusion in the country.

The MOU signing ceremony was held in the Innovation Lab located at the ABL Head Office, Lahore and was signed by Mr. Mohsin Mithani, Group Head – Digital Financial Services and Innovation, ABL and Mr. Haroon Q. Raja, Founding Member of PAFLA. Speaking on the occasion, Mr. Sohail Aziz Awan Chief – Digital Banking Group ABL expressed his optimism regarding the partnership with PAFLA whilst stating that ABL has always been at the forefront of innovation and that the freelance community of Pakistan shows great promise for the growing tech industry in Pakistan.

PAFLA is the largest and fastest-growing non-profit representing the independent workforce in Pakistan. It provides its members with a powerful support system and voice through policy advocacy, benefits, resources, and community.

As per the agreement, ABL- PAFLA chapters will be opened in various cities of Pakistan in order to promote the freelancing industry of Pakistan. Furthermore, an ambassador program will also be initiated through which student ambassadors at leading universities of Pakistan will be appointed to spread awareness and knowledge whilst also conducting engaging activities for upcoming freelancers.

foodpanda celebrates its riders by unveiling the vibrant new ‘Rider Kit’

foodpanda, Pakistan’s leading food delivery platform and e-commerce company, exhibited its latest Rider Kit at an exciting launch event held in Karachi. The event is a testament to foodpanda’s commitment to support the company’s biggest strength, i.e. its riders. The key features of the kit, among other things, include a newly designed jacket to protect riders from the cold weather during winters and helmet to provide additional safety during travelling. The event was attended by foodpanda’s management, top riders, restaurants vendors and homechefs.

Speaking at the event CEO foodpanda, Nauman Sikander Mirza, stated, “We are very excited to launch our new rider kit and showcase our appreciation to the delivery heroes who make it possible for us to provide excellent service to our customers. These delivery riders are critical to our business and providing them a safe and effective environment is a top priority for foodpanda. We will continue to focus on improving working conditions for our riders and offer access to flexible economic opportunities across the country.

foodpanda is working tirelessly to ensure that support is available for the riders across Pakistan, as a commitment to their strategic roadmap to create economic opportunities and a favourable working environment. foodpanda cares deeply for people and for the communities in which it operates, and believes they have an essential role to play especially after the onset of COVID-19 crisis. So far foodpanda has created economic opportunities for thousands of people nationwide including 50,000+ riders and 5,000+homechefs.

Careem to bring back bonuses and guarantees, awards best performing Captains of 2021

With the mission of simplifying and improving the lives of people in the region, Careem, the Super App for the greater Middle East and Pakistan, brings back the Captain bonuses in Karachi, Lahore and Islamabad. The initiative was taken to increase Captains earnings and improve their economics by supporting them with additional incentives to work with the platform.

Since the COVID-19 pandemic, Captains earnings took a massive hit as the country saw multiple lockdowns to prevent the virus. With the conditions improving in the country, the demand for the service has also increased, giving the 800,000 registered Captains a chance to earn additional income, improving their lives while strengthening the network, making Careem the largest ride-hailing company in the region.

The new bonuses will allow Captains to earn up to 25% in addition to their basic income. Numerically, Captains can now earn up to PKR 150,000/- with the introduction of the new bonuses. These bonuses have been introduced in Karachi, Lahore and Islamabad, starting with the ‘GO Category’ with plans to expand them across the country and other car types

Careem has always been at the forefront to work towards improving the lives of its Captains. From partnering with organizations to providing education on subsidized rates, discounted pricing on fuel and oil changes, and providing ration packages during the lockdown and distributing smog kits to help them combat the harsh weather. Careem also recently announced to reduce its commissions from 25% to 15% on the Bike category to help them improve their earnings.

Amongst these initiatives, Careem also recognized the efforts Captains have made to ensure the service quality remains at the top and introduced Sitara-E-Careem awards last year to praise their hard work and dedication towards the Customers and Community at large. These awards are given to the best performing Captains who went above and beyond and made lives simpler for Customers.

Careem has more than 800,000 Captains registered on its platform so far and has invested up to $100 million since its inception in Pakistan in 2016. Transforming into a Super App; Careem offers multiple opportunities as it expands its services from the mobility of people to adding mobility of things and mobility of money including food, daily essential deliveries, peer to peer credit transfer and mobile top-ups.

Careem invested $100 million since 2015, created 800,000 employment opportunities

(An independent report by Oxford Economics “The Socio-Economic Impact of Careem”, including data from 2015-2019)

Careem, the Super App of the greater Middle East and Pakistan, has partnered with Oxford Economics to release “The Socio-Economic Impact of Careem”, an independent report including data from 2015-2019. The report is a detailed account of how Careem has contributed to opportunities of income generating activities, providing reliable services that simplify lives, safer mobility for women and the socio and economic impact on Captains, Customers, Colleagues and the local communities.

The report includes in-depth data of Careem Captains and Customers, their demographics, total trips taken on Careem in addition to the economic impact created by the company. According to the report, Careem has invested more than PKR 100 million in Pakistan since the last 5 years, creating a customer base of 9-10 million in Pakistan, taking a total of 236 million rides. The customer base of Careem Pakistan consists of 64% male and 36% females. Similarly, the report indicates that Careem Pakistan has a total of 800,000 registered Captains.

Zeeshan Baig, Country General Manager of Careem Pakistan commented: “It brings me great pleasure to see the impact Careem has made in Pakistan over the years. It has not only paved the way for a shift in the digital ecosystem in Pakistan but also contributed massively to the lives of millions of people. The scale at which Careem has provided employment opportunities and the people we have moved over the years truly humbles me.”

The report also includes data-driven information based on a sample survey of Careem Captains, their livelihood, demographics, reasoning, behaviors and backgrounds.

Careem is also known for taking the initiative of defeating the social “shock-factor” of women driving around by providing them with an opportunity to become Captains. Today Careem has more than 1600 female Captains registered having an average rating of 4.83. Women Captains have covered a distance of 4,500,000 kilometers taking more than 570,000 rides.

Transforming into a Super App; Careem offers multiple opportunities as it expands its services from mobility of people (ride-hailing) to adding mobility of things as well as mobility of money including food, daily essential deliveries, peer to peer credit transfer and mobile top-ups.

PKR 1 million loan awarded to foodpanda Homechef by BoP under Kamyab Jawan Programme

foodpanda, the leading e-commerce platform of the country, signed an agreement with Bank of Punjab to provide financing to registered foodpanda Homechefs under Prime Minister’s Kamyab Jawan Youth Entrepreneurship Programme. Furthering this objective, the first loan of PKR 1 million was disbursed to Mr. Khalid Javed Akhtar from Sahiwal, who is a certified chef from COTHM and is running his home based food business under the name of The Abaan’s Kitchen and has been a foodpanda home chef since 2020.

Under this partnership, loans up to Rs. 25 million are to be given to enterprising homechefs who are desirous of commencing or expanding their home-based food business, but need financial support.

This ceremony was held at foodpanda Head Office in Lahore where Mr. Ghulam Ali Khokhar – Head Government Initiatives Division R&PSL Group represented Bank of Punjab (BoP), while foodpanda was represented by Mr. Ahsan Malik Head of Homechefs, and Ms. Binte Fatima Rizvi Head of Partnership of Homechefs.

Speaking on the occasion, Mr. Ghulam Ali Khokhar said, “BoP is currently the top performing bank with a total disbursement of more than Rs. 5.8 billion under KJ YES. BoP encourages more and more Homechefs to come forward and avail this exciting opportunity and become successful entrepreneurs. The Bank of Punjab is constantly looking for partnerships with companies such as foodpanda where we can work for socio-economic uplift of the country.”

Ahsan Malik, Head of Homechefs, shared his thoughts, “We have partnered with BoP to facilitate and fast track loan applications of foodpanda Homechefs so they can build and scale their businesses. We are extremely pleased that our strong collaboration has resulted in the first loan to be processed and disbursed in record time, with many more applications also making their way to the final stages’

A dedicated mechanism has been put in place by foodpanda to guide and handhold interested home-based food entrepreneurs. Binte Fatima Rizvi, Head of Partnerships, Homechefs, said “To facilitate and make the loan application process as seamless as possible for loan applicants, we provide guidance via online tutorials, videos on our Homechefs Youtube channel, and a dedicated Kamyab Jawan helpline number where Homechefs who are interested in applying for the loan are provided end-to-end guidance on the application process, important do’s and don’ts, required documents and most importantly how to prepare a business plan to ensure successful loan disbursement.”

Khalid Javed Akhtar, shared his views, “I feel extremely honoured to be the first foodpanda Homechef recipient of Kamyab Jawan loan. I am extremely grateful to foodpanda, Bank of Punjab, Prime Minister Imran Khan and SAPM Youth Affairs Mr.Usman Dar for helping small businesses realize their dreams with a program like Kamyab Jawan that provides substantial business loans on extremely simple terms and low mark up. I will be utilizing this loan to expand my kitchen space, purchase equipment, expand my menu and hire staff to manage kitchen operations. I have been part of foodpanda’s homechef family since 2020, and now I can proudly say I am a foodpanda ‘Kamyab Jawan’ Homechef!