Aitizaz Hassan

Pakistani startups have raised $274 million in the first two quarters of 2022, which is 80% of what they raised ($350 million) through 2021. This improvement has won applause in the international startup spaces, reports WealthPK.

Imran Jattala, CEO of Innovators Garage – a global management consultancy –said the UNDP estimates that Pakistan needs to generate 1.3 million more jobs annually till 2035 to manage its youth bulge. Innovation and entrepreneurship hold the key to the economic transformation of Pakistan, he added.

“The Startup World Cup Pakistan is our humble effort towards making Pakistan a Top-50 Innovative Nation with $500 billion Innovation Economy by 2030,” Imran added.

Imran said the Chinese startups brought a revolution for their people and set an example for the entire world. China had 12,000 startup incubators and produced 600,000 startups per year. It has lifted 800 million people out of poverty through innovation and entrepreneurship, he added.

Imran told WealthPK that Innovators Garage in partnership with Pakistan National Investor Portal (PNIP) and Air University Islamabad organized a nationwide outreach campaign for ‘Startup World Cup Pakistan’. Out of more than 200 startup applications, 12 shortlisted startups pitched for ticket to Silicon Valley Global Finale of Startup World Cup.

“Startup World Cup Pakistan 2022 was judged by an esteemed jury of local and international judges, and startup Orbit-Ed was declared the national winner,” Imran Jattala said.

Navera Waheed and Wajiha Habib, Co-Founders of Orbit-Ed, received their ticket to Start World Cup Global Final in Silicon Valley in Sep 2022. Orbit-Ed, an augment reality (AR) business based startup in Islamabad, raised $0.5 million Pre-SEED round from ‘Boost VC’.

The Startup World Cup methodology is to focus on launching disruptive startups that are impact-centered, profit-minded, and market-driven. Winner startup Orbit-Ed will compete at Startup World Cup Grand Finale event in San Francisco for a US$1,000,000 investment prize.

Startup World Cup is a global conference and competition that brings together the top startups, VCs, entrepreneurs, and world-class tech CEOs. It is partnering with some of the world’s largest conferences and tech events to host 70+ regional startup competitions for North America, Europe, Asia, South America, Africa, and Australia.

Startup World Cup is the world’s largest startup competition where finalist startups pitch for $1 million investment prize at the Grand Finale in Silicon Valley. It is part of innovative entrepreneurial initiatives being launched under the $500 Billion Innovation Economy vision.

Startup World Cup Pakistan 2022 was held along with Global Innovation Ecosystem Summit that brought about an extravaganza of Innovation Thought Leaders (Entrepreneurs, Investors, Corporations, Universities and Government) from the leading organizations in Pakistan to discourse on innovative strategies to build a vibrant economy in Pakistan.

According to Asad Ikram, Principal Advisor Innovators Garage, they are transforming the academia into innovation engines by educating 100,000 undergraduates of Final Year Projects (FYP)s in 230 universities. This transformation can make 300 million man-hours worth of effort productive. Innovators Garage is bridging Silicon Valley with Indus Valley and is serving the world’s leading businesses, governments, and institutions to unlock growth through innovation and startup ecosystems.

Credit : Independent News Pakistan-WealthPk