Tuesday, 2 August 2016

Work on Your Startup in Silicon Valley with BlackBox Connect Program

Do you want your startup to avail the best facilities that Silicon Vallley has to offer? Then it’s time for you to register for BlackBox Connect program. This entrepreneurship program has been brought for Pakistani startups by The Nest I/O, the Karachi-based incubator and accelerator.

What is BlackBox Connect?

BlackBox Connect is a program offered by Google for Entrepreneurs. It is currently in its 17th edition, inviting applications for startups all around the world to gain access to Silicon Valley experts, investors and industry insiders.
It offers the chance for non-US startups and entrepreneurs for a fully-funded trip to Silicon Valley where they can meet like-minded entrepreneurs. There’s also lots of workshops, meetings and networking opportunities with investors, experts, and executives out there.
The program will select 16 startups with potential from around the world, for a 2 week all-expenses-paid trip to Silicon Valley. Qualifying startups can accelerate their business after gaining exposure on a global level.

Registration Deadline and Other Details

The deadline for applying for Google for Entrepreneur’s powered event is 12th August 2016. You can apply for the program here.
The Nest I/O, P@SHA’s tech accelerator will be selecting the qualifying Pakistani startups based on their potential.
The BlackBox Connect Program will commence on November 7th2016 and run till 18th. Get registered today for a chance to tour Silicon Valley and meet some remarkable people from the other side of the world

Elevate the Youth is a Social Empowerment Program for Pakistanis [Interview]

Pakistan is slowly but surely waking up to the potential and opportunity that entrepreneurs bring for a country’s society, culture and economy. Social innovation can help Pakistan make better use of its untapped human capital, which is why programs for spearheading such initiatives are very much needed.
Elevate The Youth program is one such initiative that is geared to help Pakistani youth contribute significantly to the country’s entrepreneurial landscape. It was the brainchild of Sadaffe Abid, who is also the co-founder of CIRCLE, a social enterprise that works on women’s advancement, leadership and youth entrepreneurship.
At Session
Sadaffe Abid, Co-Founder of CIRCLE

Profile of Sadaffe Abid

Sadaffe Abid is the former CEO and COO of Kashf Foundation, one of Forbes Top 50 microfinance institutions. She helped the company grow from a pilot in two rooms to serve 300,000 women clients in Pakistan. During her tenure, Kashf received the AGFUND International Prize and Grameen Trust Microfinance Excellence Award.
She completed her Masters at the Harvard Kennedy School, Advanced Management Program at INSEAD and her B.A. at Mount Holyoke College. She is a recipient of the Mount Holyoke Alumni Achievement Award and a TEDx INSEAD Speaker.
With Sherry Rehman
Elevate Team with Senator Sherry Rehman
We recently reached out to Saddafe about Elevate the Youth (ETY) initiative, her thoughts on how women are faring in entrepreneurial ventures in Pakistan, and how CIRCLE is helping in empowering Pakistani women.

Tell us about the beginnings of Elevate the Youth program and some of its main features.

Elevate The Youth (ETY) began as an idea by CIRCLE, a social enterprise working on women and youth advancement, advocacy and entrepreneurship. We were inspired by the vision to inculcate key values and capacities within Pakistani youth so they can thrive in today’s complex world and bring their ideas forward to create impact for Pakistan.
Our model provides professional experiences to students through internships with our partner companies which range from start ups, corporates to leading social enterprises; alongside this our Fellows have the opportunity to attend specially designed workshops and seminars that inspire and facilitate their development.
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Another key feature is a Social Innovation Project where ETY Fellows collaborate in teams to create innovative, sustainable and technology based entrepreneurial solutions for Pakistan’s challenges. This is the main crux of the ETY Accelerator where we also have mentors who work with the teams.
Through the accelerator, we encourage the youth to be aware of world issues, be solution centric, inclusive and adaptive in their approach. These values are the backbone of our program.
Last weekend on July 26, our Fellows worked on a community service program with Robin Hood Army where they helped feed 600 meals in a hospital. This unique feature of our accelerator aims to instill public service in each member of our society and to celebrate the life of Abdul Sattar Edhi Sahib by making volunteerism a part of our regular life. If each Pakistani gave 5 hrs every month for service to humanity, we can make such a significant difference as a nation.

In a place with so many incubators and accelerators already, how is Elevate The Youth different?

We believe ETY is unique. It’s a holistic program that is not only providing professional and personal development for the Fellows but also broadening their exposure to ideas and innovative projects locally in Pakistan and globally to expand their vision of what is possible.
We don’t want the Fellows to be content being job seekers; we want them to inspire them to be job creators and make an impact through their work so that society as a whole benefits from it. Every year we have 4 million youth entering the workforce and there are not enough jobs for them. Moreover, we hope that we build their resilience and capacity to deal with failure and life events.
Workshop
A Workshop with Elevate
In a recent session with our learning partner, Carnelian, we encouraged the ETY Fellows to find what’s missing in their world and use that as motivation to create their purpose and fill the gap. Through these experiential exercises, the youth will be utilizing their skills to do something about a problem they feel passionately about or a solution they would like to bring.

Every year we have 4 million youth entering the workforce and there are not enough jobs for them.

Another exciting feature is that our accelerator draws on the insights and experiences of the youth to co-create the program. Our core team brings a variety of experiences and are all under 21 except for the Founder.

Can you tell us a bit about the participants at the recent Elevate The Youth program?

The participants of the program are students from universities and Colleges such as FCC, LSE, COMSATS, University of Punjab, SICAS etc. We have a group of 16 Fellows for this cycle that are interning in Partner companies such as Nestle, Berger, Kashf, Citropak and Kualitatem, and in startups such as BeautyHooked, TazaDaily, Pine.pk and Pakshine.
The group is managed by our Core Team in Lahore who are all also students from different backgrounds and fields, ranging from Political Science to Engineering.
at SCB

Tell us something about other initiatives taken by the CIRCLE team.

CIRCLE launched our flagship campaign, Elevate in Karachi this year, with the idea to bring women’s perspectives on panels and forums. Male and female leaders pledged to ensure that panels of three or more speakers are balanced and must include a woman panelist making the conversation richer, more inclusive and diverse.
According to our initial research, in the top conferences held in last six months in Pakistan, women speakers made only 15% of the overall speakers. Conferences are highlighted in the media and recognized as a place where successful people gather together to discuss matters of significance.
Lack of women representatives on these platforms represents that only men’s perspectives matter, makes the audience less diverse and the conversation and solutions not as inclusive. We believe women’s participation and gender diversity leads to more robust, inclusive results which boost the bottom line of companies, advance communities and nations.

For Pakistan’s progress, we must invest in women.

That is why we started this campaign. We have now received over 200 pledges and are aiming at 500 by the end of summer. We would love to welcome more supporters for Elevate.
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We are also supported by CEOs such as Michael Foley, Kimihide Ando, Amir Iqbal, Ahmad Jalal, Shazia Syed, Asad Khan, Ziad Bashir, Muhammad Azfar Ahsan and several other leading corporate and social sector leaders and students.

What can you tell us about the state of women entrepreneurship in Pakistan? Any examples of women entrepreneurs who have thrived here?

Women have a great sense of social responsibility. For example, DoctHers provides medical services to rural areas using technology and business solution, at the same time enabling female doctors (who are currently not actively engaged in work) to provide medical consultation from their homes.
Paimona, another start up kicked off because the founder discovered that the furniture sold in international market is seldom made in Pakistan and she wanted to highlight Pakistan’s potential.
There are others like Sheops which provides a platform for home based workers to get connected to the market. These are exciting start ups with potential for growth and to transform Pakistan.

Women are more than willing to help each other out. They mentor other female entrepreneurs, and they even think of empowering women as one of their goals.

Women entrepreneurs are in every industry, e-commerce, fashion, education, everything you can think of. At the same time, there are several challenges. Capital is very much needed, it is hard to find suitable employees, and entrepreneurs need more skills in marketing and financial management.
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They also face doubt from society, whether they have the ability to balance work and life. There are more and more young people willing to start their own business, it is on us to mentor them, families to be supportive and for them to be resilient and willing to fail.

What do you feel are some of the most pressing issues for entrepreneurial ecosystem here?

Incubators and accelerators have started in Pakistan which is terrific and will lead to tremendous learning. They are not mature yet but open to ideas and partnerships to deepen impact. Another aspect is that not many people are willing to work for startups, not many are interested in entrepreneurship, etc. It takes time to build an entrepreneurship eco-system. We have to pave the way together.

HEC Starts Accepting Applications for its Tech & Development Fund

HEC, in a positive effort to encourage and nurture entrepreneurship and socio-economic development, has introduced a Technology Development fund which will provide viable projects with the resources required to develop their products/services.

Which Projects Will Qualify?

The projects funded through the Technology Development fund will be expected to develop their product/service which should positively impact the society, solve a problem, utilize raw materials of local origin, move existing products along the chain of value, meet the need in a particular product/service market or can contribute to the economy by creating a business and indirectly creating jobs for people.
Projects should preferably be in these areas:
  • Information and Technology/Computers (applications in government, services, health, textile, agriculture, dairy etc.)
  • Micro-electronics
  • Biotechnology (in government, health etc.)
  • Material Sciences/Manmade Material
  • Telecommunication
  • Robotics
  • It could also be of “any other discipline conducive to success of products developed in the above areas.”
Furthermore, the projects need to be created in a joint academia-industry partnership.

How to Download & Send the Application:

You can download the application forms from here.
The applications must be sent to HEC on the following address through the Office of Research Innovation and Commercialization (ORIC) of the particular University the applying team is located.
Noshaba Awais
Director R&D
Higher Education Commission
Sector H-9, Islamabad, Pakistan
Applications can be sent until December 2016 and will be evaluated on a first come first serve basis.

Pakistani FinTech Raises $1 Million in Seed Funding

Finja, a FinTech startup founded by Qasif Shahid, Monis Rahman and Umer Munawar, announced today that is has raised $1 Million in seed funding round led by Stockholm based Vostok Emerging Finance.
Finja said that it will use the investment for a mobile wallet product that they are hoping to launch commercially later this year.
Finja said that its goal is to offer innovative financial services to Pakistan’s rapidly growing digitally literate population by displacing cash.
When asked that how Finja’s mobile wallet will be any different from other available products in the market, Qasif Shahid told ProPakistani that his startup is aiming to disrupt the mobile wallet industry at three levels:
  • Price
  • Process
  • Functionality
Qasif explained that his mobile wallet will be come without any service charges (unlike currently available wallets that come with a fee for doing transactions) for both the senders/receivers or for both the buyers and the sellers.
He went on to claim that his startup is also smoothing the process for customers to get onboard and finally making it more lucrative and viable for consumers through added functionality that’s otherwise not available in the market.
Qasif said that as Pakistanis continue to rapidly adopt digital mediums, there is an opportunity to transform lives by re-inventing business models and removing friction through digital interventions.
Monis Rehman, a co-founder at Finja, commented on the funding and said that this initial seed financing round will enable Finja to demonstrate the power of digital-by-design financial services and is just the beginning of their journey.
As a result of the round, Vostok Emerging Finance Managing Director, David Nangle, will join Finja’s board of directors and play a key role in helping guide the company with the fund’s extensive experience in growing FinTech led initiatives in emerging markets.
“We are delighted to partner with a truly world-class team in one of the most exciting FinTech markets globally with massive untapped potential,” said David Nangle, “Pakistan’s rapidly growing 3G/4G enabled smartphone subscribers, supported by a progressive regulatory framework, are a game changer for providing digital financial services to the country’s 200 million under-banked population.”
Finja will partner with a Micro-finance bank for rolling out its mobile wallet. While the pilot has been deployed already, the commercial launch of Finja’s wallet should surface around Q4 of 2016.