The Foundation, business incubator at LUMS Center for Entrepreneurship celebrated the graduation of its first cohort of startups with an exclusive Investors Summit. These startups have gone through an intense, 4-months-long, startup development bootcamp at LUMS and have been mentored by some of the best in the industry. The startups were selected by an elite, independent panel of business leaders 4 months ago after a nation-wide search.
The Foundation Investors Summit, which was held at the Rausing Executive Development Center in LUMS was the first investor event organized by the LUMS Center for Entrepreneurship. The event included a mix of both local and international investors who came to support these businesses. Startups that pitched their businesses included PlayBolt Studios which develops augmented reality based mobile and marketing solutions. Interacta, which has developed a technology that makes broadcast content interactive with the aid of smart phones. Savaree, a trust-based, ride share social network that allows drivers to monetize the free passenger seats in their cars by posting routes and connecting with riders that share that route. Bugdev Studios, a team of very passionate mobile game developers and designers that build and publish creative, fun, action-packed games that make people think, feel and enjoy.
Other start-ups include BizClout, a one-stop solution to fully e-commerce enable SMEs with-in 15 minutes using a proprietary content management and ecommerce platform. The company offers value-added products to promote and market these online brands as well. MARO, oven baked bread (tandoori Roti and Naan) is one of the most commonly consumed food item in Pakistan and MARO aims to setup a network of ‘Tandoors’ that provide healthy bread and an immaculate consumer experience at the same price as traditional ‘Tandoors’. Appography, the company aims to improve the customer experience by introducing a visual navigation IVR (Interactive Voice Response), in a clutter-free, simplified and more consumable manner on customer smart phones. Burq Solutions brings smart grid power solutions within everybody’s reach.
The Foundation Investors Summit started off with an Open House segment where investors were welcomed to interact with the startups informally. The event was officially opened by an introduction of LUMS Center for Entrepreneurship by Babr Ahmed, CEO Mindstorm Studios, keynotes by the renowned businessman and an entrepreneur himself, Syed Babar Ali and Vice Chancellor LUMS Dr. Sohail Naqvi. It was followed by a segment of entrepreneurial success story where Khurram Samad, CEO GenI Team, delivered a speech about the beginning of his company and where it stands today. Later, Barrister Ahmed Uzair of Ahmed Uzair & Co briefly elaborated on the term sheets of the startups.
At around 6pm, the startups began pitching to the investors and the event was concluded by dinner at the Executive Dining Hall at LUMS.
Speaking on the occasion Syed Babar Ali, Pro Chancellor LUMS, said, ‘This learning helps students develop skills relevant to the business world.’ He added that the Centre at LUMS was an example of initiative taken by a local university in mentoring, funding and supervising young entrepreneurs.
Speaking on this occasion Dr. Sohail Naqvi, VC LUMS, said, “I am excited to see the first batch of incubatees graduate from the LUMS Center for Entrepreneurship. Congratulations to those who secured funding tonight at the Investor Summit.”
LUMS Center for Entrepreneurship is welcoming its second batch of startups in the second week of October.
