Day 2 and 3 of the TIE-Khudee workshop
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I had been very busy over the last couple of days and was therefore unable to update you guys about day 2 and 3 of the TIE-Khudee workshop that was held at LUMS. The first session of day 2 was conducted by Monis Rehman where he basically talked about the art of giving a presentation that is presenting your idea in front of potential investors such as vcs’. This was followed by Umar Saif going through case studies of Avicena (why did it fail,) Google and Apple (why did they succeed.) The afternoon session was conducted by Asad Alam where he presented about the importance of the need to formulate correct business strategy before executing any idea. Day two ended with the audience being enlightened with Steve Jobs commencement address at Stanford University in he talked about 3 life changing experiences and concluded with him encouraging budding entrepreneurs to “stay foolish and stay hungry!”
Day 3 of the workshop basically comprised of a panel discussion whose participants included Shaukat Ali Ibra (Dean Suleman Dawood School of Business- LUMS,) Monis Rehman(Naseeb Networks,) Farooq Naseem (DWP Group,) Seema Aziz (Bareeze’, Care Foundation,) Abuzai Bukhari (Porche) and last but not least Dr. Khalid Chowdry (President TIE Lahore, Medipak.) Apart from Mr. Shaukat who talked about general things related to entrepreneurship and gave an academic perspective on the subject, the remaining participants shared their personal entrepreneurial experiences (success’ and failures) and the lessons they learnt. I personally found the panel discussion to be a great learning experience because these were success stories that I as a Pakistani could relate to and be proud of.
2:18 am
I found TIE to be a very effective organization in the past. I was not associated closely with Lahore chapter but have attended a few networking and presentation event in Canada.
Its very good to see such events happening in Pakistan. Dr. Khalid must be a busy man but I will encourage TIE to arrange for more mentoring events so young entrepreneurs can get good guidance and hopefully seed/startup funding.
/Majid
5:53 pm
Hello,
Usman,interestng comments ..we are very interested in presentations to investors,especially when we discovered how small the chances are in getting funding…
We have spoken to many V”s and have included the ten years research/experience of discovery beach (AU ) to help us formulate an appropriate presentation..
It really is time for a revolution..in presentations and business plans….It’s as though for most investors the internet does not exist.
Our first attempt to start a fresh is to use animation
( more on the edu..of this if interested )You will laugh at our first attempt..which can be viewed by TMI link investor…then link investor intro…..
This is the start and even a drunk one eyed flea can see that future presentations will be multi media “on the fly”…direct to the investors inbox..
Every investor we have called has been at front of his monitor……The biggest single problem they have is the time it takes to find good projects…We are attempting to solve that problem for them as part of our strategy to help the poor…
Is the text of Asad Alam available ?
….Ian
6:11 pm
Majid
Your suggestion on mentoring does need to be taken up..if only because it would save an immense amount of hassle time money (own governments friends ) ,which could be avoided if only one knew how..
The current problem is few startups have the money to buy class mentoring..(although by research we have found the best online mentors
with excellent value for money)
It does suggest something obvious..perhaps an opportunity for students to startup a service to bring this about..wisdom can be found at places like elders wisdom circle..i have found them very understanding….
Regarding seed funding for startups .very few investors will be interested and beware of timelines and don’t jump at the first offer you get…..
Always try and “boot strap” your way forward if you can…….Ian
3:36 am
Ian,
Agreed. I was part of Technology venture capital/IT incubator back in 2001 in Pakistan same time as TIE was launched by Baber Ali and people like Kanwal Rekhi were in town.
The fund was in few million dollars however we were not able to find any good venture to invest in. The company was a launched by one of the biggest finanical insitution. Since we weren’t able to find a single good venture to invest in, the company was shutdown after an year of operation. A great contributing factory was dotcom bubble burst however we greatly felt that the IT entrepreneur weren’t ready. Good ideas were missing.
However, looking back at the last few years I feel things have been pretty good for technology entrepreneur however mentoring, angle investors and VC need to be all in place to take good ideas and make them a great idea!
/Majid
4:12 am
Majid..
In talking to many investors it also seems there is another problem which will not easily be solved..
Many seem to have “accountants minds”..this is the last thing you want when assessing a new innovation..
When i present my billion dollar idea to them thinking creatively presents a real problem…vision is required for something that is not yet there.
That’s why a mastermind body of students
have often been the ones to start the “googles “and “youtubes”……….
It’s only a matter of time before investor
entities are going to be side stepped by much younger university funding bodies ..or are they already being formulated ?
This is now ready to happen because of the much cheaper beta testing of startups on the internet…Many are not aware the sponsored links on the right hand side of pages on google include many testing their ideas..sometimes getting valuable stats/
results and revenue in minutes …..
ian