Karachi – 17th June, 2019: Pakistan Telecommunication Company Limited (PTCL) and LMKT (www.lmkt.com), a leading Pakistan-based technology services company, is pleased to announce that National Incubation Center Peshawar startups secured first and third positions in the Pakistan Startup Cup 2018-19, which is the nation’s biggest and most noteworthy startup competition. This is a major milestone for the LMKT- and PTCL-operated innovation platform, funded by Ignite (formerly known and ICT R&D Fund), in such a short span of time.
The Pakistan Startup Cup is organized by TiE Islamabad in Partnership with US State Department and Griffin Worx, USA (which was formerly known as Startup Cup LLC). Since its inception in 2013, the Cup has attracted the best startups from across the country.
Mr. Shafqat Mahmood, Federal Minister for Education and Professional Training and His Excellency Paul W. Jones, Ambassador of United States of America to Pakistan were the guests of honor at the prize distribution ceremony. They showed great interest in the pitches of both the startups and appreciated them for their innovation. Nano IT Solutions, which creates immersive virtual reality experiences, took the top prize of one million Pakistani Rupees, while Arpus Technology, a startup that manufactures electro-surgical units secured the 3rd spot.
This is the first time in the five-year history of the competition that KP-based startups have gained top positions. This is especially remarkable as this year the nation’s largest startup competition attracted over 2000 applicants. Approximately, 180 startups from Khyber Pakhtunkhwa participated in a series of workshops and pitches that were held in Islamabad, Lahore, Karachi, Peshawar, Quetta and Faisalabad. The startups went through various stages to further qualify during a rigorous 10-month period. The top 3 finalists from six cities presented their pitches to an esteemed panel of judges that comprised top entrepreneurs and business leaders from Pakistan.
On the occasion, Moqeem ul Haque, Chief Commercial Officer, PTCL, said, “We are proud of the winners of Pakistan Startup Cup, Nano IT Solution and Arpus Technologies, who have shown excellence and potential to stand out as the leading startups amongst the pool of talent available. We also congratulate NIC Peshawar, with whom we have collaborated to provide a platform for empowering young entrepreneurs.”
“Today is the proud moment for NIC Peshawar and LMKT along with all our partners including PTCL, who believed in providing an enabling platform to shape tomorrow’s business leaders”, said Murtaza Zaidi, Director, NIC Peshawar. He added, “This is the first time that two Peshawar-based startups secured top positions in a nation-wide competition, which is testimony to the hard work and dedication of all the stakeholders of NIC Peshawar.”
PTCL and LMKT will continue to provide support to startups and realizes the importance of innovation, creativity and initiative for successful transformation of the economic landscape of Pakistan.