Pakistan Startup Cup’s 2017 edition kicked off in Lahore with the Extreme Build-A-Business Workshop, which is aimed at expanding business ideas, learning business model design, taking current business to the next level and identifying solutions that accelerate revenue creation. Out of 1750+ applications from all over the country, 450+ submissions were received from Lahore. Pakistan Startup Cup has been playing a pivotal role in shaping up the country’s entrepreneurial ecosystem. The competition is organized by TiE Islamabad Chapter in collaboration with the US Embassy in Pakistan.
Each startup was given a Startup Cookbook and a Business Model Scorecard, comprising of visual tools for designing and developing the business model, action plan, team development and bootstrapping game plan. Sean Griffin, Founder of Startup Cup walked startups through the process of using the visual tools. The major takeaways from his session focused on the need to go-to-market now and to build a business that brings revenue in order to reduce the need for funding such that startups don’t have to ask how much, but how little funding they need.
The Build-A-Business Workshop witnessed some great ideas with tremendous potential. Seasoned mentors offered these startups valuable lessons on how to optimize their business models to ideally fit their respective industries. Startups were evaluated by mentors on the basis of validity and potential of their business models.
Murtaza Zaidi, Executive Director TiE Islamabad observed,
“During the workshop, we got to witness amazing ideas from young entrepreneurs who were keen to interact with the mentors who offered valuable feedback on their business models. Throughout the workshop, there was great emphasis on encouraging startups to go to market and start generating revenue.”
One of the startups commented,
“We were able to improve greatly on our business model and in just a span of two days, our business model has evolved and we have been able to get a clear picture of areas that can potentially be improved.”
At the conclusion of the Build-A-Business Workshop Lahore, 25 startups were selected to move on to the next round of the competition. These include eBOLT, Edxlink, Virtual Eye, Neurostic, Kiln Flames, Sportify, Arazi Ventures, Big Immersive, KIDDIE NEST, EyeAutomate, Instacare, Journal Post, PakBuilds.com, Nazdeeq, Oostad, Tax Dosti, BAP, Things Access. Hybrid Power Control Smart Home System, vSwat and Fascinate Games, Sahara iO, Greefee, Freightix, Voice Synthesizer and Remote Health Monitoring System, The Estel Company, Paitoo.