Pakistan Entrepreneurs StartUp Cup Challenge 2017 a Business Model Competition

Pakistan Entrepreneurs StartUp Cup Challenge 2017 Update: If you have an idea for a product, service or any other type of business idea, competing in a StartUp Cup Challenge may be the motivation which can make your dream a reality. If you have recently started a business, see how competing can help you to take your business to the next level. This is one of the best opportunities for a Startup to present their business idea and get all the support to take it to the next level.

The Pakistan Entrepreneurs StartUp Cup Challenge 2017 is a business model competition open to any type of business idea in Islamabad, Karachi, Lahore and Peshawar brought to you by TiE Islamabad in collaboration with the U.S Embassy in Pakistan, powered by GriffinWorx.

The Pakistan Entrepreneurs StartUp Cup Challenge 2017 is an inclusive, grassroots-driven entrepreneurship empowerment program proven to grow businesses, entrepreneurs and the ecosystems that support entrepreneurs.

Read: DICE Mega Innovation Entrepreneurship Event Pakistan 2017

Business builders who compete in the Pakistan Startup Cup are rewarded for turning their idea into a viable business, going to market quickly, testing assumptions, and modifying their business model as they learn what drives customers and revenue. Business builders of the Pakistan Startup Cup do not have to be experts at creating polished documents or accounting wizards. Instead, what they lack in experience, they make up for in passion and dedication to achieve their dream.

Pakistan StartupCup 2017

Pakistan Entrepreneurs StartUp Cup Challenge 2017 is back with 2.25 Million Prize Money. Pakistan is a rich country with a talented youth that possesses infectious energy and passion for pursuing their ideas. There are a number of opportunities are being provided to the youth to put forward their idea.

With it above 200 million populations, Pakistan is ripe with opportunities and is an attractive market for doing business. Pakistan is among those countries where entrepreneurial ecosystem is progressing rapidly and providing the opportunities for aspiring entrepreneurs to take their ideas to market.
Pakistan Startup Cup has played important role in offering the opportunities to the aspiring entrepreneurs to grow businesses and enterprise culture in the country.

The StartupCup has a presence in 60 countries and engaged 3,437 mentors and held 208 Startup Cup challenges has contributed towards establishing 3,735 operating businesses and has helped create 43,384 jobs and had an economic impact of $744m.

Participating startups will receive extensive mentoring and are judged on the basis of their progress during the Pakistan Entrepreneurs StartUp Cup Challenge 2017. Mentoring and judging sessions will occur in Islamabad, Lahore, Karachi, and Peshawar. Applications can be submitted online here.
TiE Islamabad Executive Director Murtaza Zaidi told that:

“I especially encourage women to apply. Some great business ideas are being pursued by women, and we expect that half of the startups will be women-led like last year.”

He added:

“In 2016, we saw impressive women-led teams take their business ideas from a dream to a revenue-generating reality throughout the course of Pakistan StartUp Cup.”

The deadline for submitting applications is September 20, 2017.

For more information, visit http://pakistan.startupcup.com/

Inquiries about Pakistan StartUp Cup can be directed to startupcup@tieislamabad.org

Source: Mehran Post

SBP Women Entrepreneurs Refinance Credit Guarantee Scheme Officially Launched

SBP Women Entrepreneurs Refinance Credit Guarantee Scheme Update: Tariq Bajwa, Governor, State Bank of Pakistan (SBP) on Friday 25th August 2017 launched SBP Women Entrepreneurs Refinance Credit Guarantee Scheme in Undeserved Areas at a ceremony in Quetta.

The SBP governor said earmarking 20 percent funds in the SBP Women Entrepreneurs Refinance Credit Guarantee Scheme for Balochistan’s women primarily intended to provide them opportunities for establishing new business and extending the old ones in far-flung areas of the province.

The governor informed the audience that it is for the first time in our history that a SBP Women Entrepreneurs Refinance Credit Guarantee Scheme with 0 percent refinance rate and 60 percent risk coverage for small businesses run by women entrepreneurs has been rolled out.
Governor SBP said:

“This SBP Women Entrepreneurs Refinance Credit Guarantee Scheme is an affirmative action by the State Bank to encourage flow of funds to small enterprises run by women of underserved areas of Pakistan. The scheme earmarks, at least 20 percent of funds for Balochistan.”

Balochistan Assembly Speaker Rahila Hamid Khan Durrani, SBP Deputy Governor Jameel Ahmed Khan, Zubair Tufail and high officials of government and private banks were also present on the occasion.

It is pertinent to mention here that this SBP Women Entrepreneurs Refinance Credit Guarantee Scheme is for women entrepreneurs in undeserved areas of the country for setting up of new businesses or expansion of existing ones.

Read: DICE Mega Innovation Entrepreneurship Event Pakistan 2017

The central bank will provide refinance to banks at zero percent. Maximum financing amount is Rs 1.5 million. And maximum financing period is 5 years with grace period of up to 6 months. End user rate is 5 percent which is locked in for financing period. 60 percent risk coverage is available against outstanding principal.

The SBP governor restated his commitment towards sustainable and inclusive economic growth across Pakistan. The governor went onto say that SMES are playing a role of backbone in economy, but unluckily its ratio was touching 8 percent while this remained less than 1 percent in Balochistan; whereas, the part of women was next to nothing.

Bajwa directed bank heads to make more efforts for staggering the SMEs to 15-16 percent and for which all stakeholders would have to render key role. Recounting a reference from a survey conducted in 2015, he said:

“Women hold 11 percent accounts in sum total bank accounts of Pakistan and they were now making strenuous efforts to enlarge women accounts up to 25 percent.”

On the launching ceremony of SBP Women Entrepreneurs Refinance Credit Guarantee Scheme, Rahila said that women in Balochistan were second to none in terms of talent. She appreciated the SBP initiative for women entrepreneurs of backward area and particularly of Balochistan.

The speaker was hopeful that such attractive financing schemes would help poor women to overcome their financial problems and hence bring prosperity to the entire province.

Earlier in the day, Governor SBP called on Mr. Muhammad Khan Achakzai, Governor Balochistan. Governor SBP apprised Mr. Achakzai of SBP’s special focus on agriculture, SMEs and low cost housing in all underserved areas of Pakistan particularly Balochistan.

Governor Balochistan thanked Governor SBP for his efforts in promoting access to finance for the underserved and the under banked. The Governor SBP also met with members of Quetta Chamber of Commerce and Industry (QCCI).

The office holders of QCCI while welcoming Governor SBP apprised him of issues being faced by the business community of Quetta. The Governor SBP assured members of QCCI of his help in resolving their genuine grievances.

Source: Mehran Post