The Indus Entrepreneurs and U.S. Embassy launch 2016 Pakistan StartUp Cup Business Mentoring Program
ISLAMABAD – Around 300 prospective business owners from across Islamabad and Rawalpindi took part in the April 16-17 “Build-a-Business Workshop” and 2016 StartUp Cup launch in Islamabad. City’s up-and-coming entrepreneurs received an intensive training to create the best solutions possible to country’s problems and create new opportunities.
The 2016 Pakistan StartUp Cup Business Mentoring Program, a nationwide business model competition, was organized by U.S. Embassy in Islamabad and The Indus Entrepreneurs (TiE) Islamabad Chapter.
StartUp Cup Islamabad was the first of several workshops to be held in Lahore, Karachi, and Faisalabad in the coming weeks.
Workshop’s top 25 Islamabad and Rawalpindi-based teams were announced at the closing ceremony.
Over the course of the six-month program, over 500 startups from across Pakistan will receive coaching through multi-day “Build-a-Business” workshops and regular mentoring to help turn their ideas into viable business plans. Prize money of 1 million, 750,000, and 500,000 rupees will be awarded to the top three teams with the best startup plan in September 2016.
“Competitions like StartUp Cup help ensure that you, the entrepreneurs, are pushed and supported to create the best solutions possible to some of the world’s toughest problems. You are the cornerstone of Pakistan’s growing economy. By launching your own businesses, you are expanding the job market and creating new opportunities for job seekers” said U.S. Embassy Islamabad’s Minister Counselor for Public Affairs Jeff Sexton.
The 2016 StartUp Cup in Pakistan builds on the success of the 2014 and 2015 competitions and continues to strengthen partnerships with entrepreneurship centers across Pakistan, including the Women’s Entrepreneurial Center of Resources, Education, Access, and Training for Economic Empowerment (WECREATE) in Islamabad, the Lahore University for Management Science LUMS Center for Entrepreneurship, Lahore-based government-supported incubator Plan 9, and Karachi-based technology incubator “The Nest I/O.”
The partnerships between StartUp Cup and these centers will ensure that newly established businesses receive sustained support, mentoring, and essential tools for long-term success. Various U.S. Embassy programs assist Pakistani entrepreneurs by increasing their access to financial resources, supporting opportunities for entrepreneurship education, and nurturing an entrepreneurial culture.
