LUMS and Pakistan thrashed by VCs at TES – thanks TIE Lahore

Share this Article

Author:

At TES2007, the TIE Khudee final competition the following judges were asked to evaluate the final three pitches:

  • Kanwal Rekhi – Managing Director, Inventus Capital Partners, USA
  • Dr. Akram Chowdry – Managing General Partner – Hi-Tech Venture Capital Fund, USA / Malaysia
  • Omar Lodhi – Executive Director, Abraaj Capital, UAE
  • Ali J. Siddiqui – Managing Partner – JS Private Equity, Pakistan
  • Ayaz-ul-Haq – Managing Director – ePlanet Ventures, USA (investors in Skype, Alibaba.com, Baidu)

I’ve already expressed my deep disappointment that TIE Lahore chose to waste the one opportunity that some of the most promising startup companies in PK (even people I know about but haven’t covered at G&W because they asked for confidence) could have had at getting some immediate attention or access to VC funds from the valley.

But it was even worse that those VCs (3 of them) chose to politely slap our industry after the competition to show their disappointment.

Dr. Akram Chowdry said in no uncertain terms the even though We Care They Care was selected as a winner, the judges were not pleased at shortlisting any one for the job.

He said that none of the entries showed any insight in marketing or distribution, and that “even most of the mentors had no idea about distribution”.

Thank you TIE Lahore – thank you very much. You got your little pictures in the press and you were able to show how active you are, but you failed to actually help entrepreneurs in the industry.

If you dont think so, try to survey the 5-10 person shops with some promising ideas in mobile application platforms, shipping management systems, and other useful products that were roaming the hallways outside your conference.

Facebook comments:

2 Comments

  • Osama

    I am not sure how this happened but I can guess. IBA in Karachi did a similar event, less high profile but with similar intent and ended up as just as big a disaster.

    Some one I know was asked to join as a sponsor and a judge at the IBA event and asked a simple question. What is IBA doing to support the winning companies post the event. He was politely told that as per IBA’s policy, no full time student is encouraged to run a business side by side with his studies. IBA is an educational institution, not an incubator.

    Ken Morse and Bill Aulet ran MITCEF in a completely different fashion. In addition to providing access to mentors from the industry they ran three workshops in Karachi over a six month period that did the ground work for the competition. Ken was also very blunt in his assessment and went on record to state that he would not look at a plan unless and until it met certain basic criterias. And he pushed mentors to ensure that those criterias were met.

    I was not at the TIE affair but I think one of the primary issues at the event may have been ground work and preparation on part of the partcipating groups. We have all seen how much impact preparation and practice makes at APICTA in Thailand, Macau and Singapore. The other may have been the selection criteria and the quality of entreprenurial education at the participating institutes. I know that Zia Imran used to teach an outstanding course on entreprenurial practice at FAST. I am not sure who does that at LUMS, IBA, CBM or FAST Karachi.

    Maybe we can learn from our mis steps next year and do a better job at the next business plan competition.

    J

  • >But it was even worse that those VCs (3 of them) chose to politely slap our industry after the competition to show their disappointment.

    >Dr. Akram Chowdry said in no uncertain terms the even though We Care They Care was selected as a winner, the judges were not pleased at shortlisting any one for the job.

    Man if i were them, I would have done even worse. These finalists were total crap and waste of time! for them time is* important! I dont think any reasonable person with atleast some business sense would be pleased with these finalists. Akram chawdry is a giant! all of these people are giants! You expect them to show a promising face for these BPs? Honestly if they did, i would have told myself they are all nothing but a bunch of artificial crapholes making fun of us! But akram chawdry said the right thing.

    >He said that none of the entries showed any insight in marketing or distribution, and that “even most of the mentors had no idea about distribution”.

    i think these mentors had no idea about business, or they think in terms of their text books. i highly doubt we care day care had a mentor. if they do,…..oh well!

Leave a Reply


*

Recent Posts

  • Events General Mobile Apps Container Run a continuation of politically motivated apps

    Container Run a continuation of politically motivated apps

    First we had Angry Imran which brought smiles and some short lived fun for us during the election campaign. Then came Gullu Butt following the incident of Model Town Lahore, which stayed on top of charts (Pakistan play store) for quite some while. Also Gullu Butt made an update with having the famous “Aam Khaiyga” quote form Aamir Liaqat in which a character resembling Aamir Liaqt throws mangoes and the Gullu Butt character tries to catch them. Gullu butt currently has more than 100,000 Installs

    And now during this extremely politically tense situation which had the whole nation on its toes on 14th August we have another app continuing the …

    Read more →
  • Announcements Featured Startup General Meritaleem.com aims to help student make better decision regarding their future.

    Meritaleem.com aims to help student make better decision regarding their future.

    MeriTaleem.com aims to solve an age old problem for our students, where to go next?

    If you have just completed your primary school which college to pick, if you have completed your college which university to pick. There has always been lack of information or rather consolidated information regarding these questions. The best source till now has always been relatives and friends (mostly of your parents). So some uncle did CA and made a good living you should talk to him and decide, or daughter of my sister completed her medical and is practicing follow that career.

    The fact that online presence of our existing universities are limited and not …

    Read more →
  • General Mobile Apps Eccentria Technologies launches an app which shoots to the top of the charts

    Eccentria Technologies launches an app which shoots to the top of the charts

    Whoa!! this was quick so Eccentia technologies launched an app a few days ago called “Ajj Kia Pakaen” or what to cook today and today it has reached the top of charts for Pakistani Stores on iTunes and google play store.

    “Ajj Kia Pakaen” is the most common question asked at every house hold in the morning. The ladies of the family have a hard time deciding what to cook for the day. The app has a fun interface and is simple to use, you fire it up, and it gives you an option of what to cook for the day, if you like the option you can check the …

    Read more →
  • Coffee Session General Marketing/Adv Rise of facebook marketing in Pakistan

    Rise of facebook marketing in Pakistan

     

    Until a few years back we used to have closed groups and forums, which gathered the like minded people and anyone targeting the online audience would tap into that forum and market his/her services. So PakGamers , PakPassion initially even PakWheels used to be driven by members talking about what they loved, people used to create marketing and sales opportunities from within those discussions (so you could get a good router cheap or a gaming PC etc).
    The advent of facebook changed all that, most of the forum goers moved to the new social media. It also made a very attractive market place for some one who does not …

    Read more →
  • General Getting back

    Getting back

    I  have been out of blogging for a long long long time, a lot of things happening on personal front (including a little startup I have ben doing my self). However during my absence I met a lot of people who had followed GreenWhite at its peak, read the articles regularly.

    I had hope there would be some one else who would come ahead and cover everything going on and around us in the local tech world. There are some guys doing a great job, but for some reason I still could not find one source where I can go and read about everything, so my routine usually is to …

    Read more →
  • General Mobile Apps Software & I.T. GeniTeam launches official app for Pakistan Idol

    GeniTeam launches official app for Pakistan Idol

    GeniITeam has successfully launched an official app for PakistanIdol. This is one of the first collaboration between a reality game show and a local app development company. I am sure a lot more would follow. Previously we have seen seenreport becoming the basis of mostly all channels citizen reporting system (Like Geo Dost). This is a healthy sign and with the advent of 3G round the corner it should become a business generator for our local firms.

    App allows you to follow the contestants that you like, promote them, comment on live feedback on an episode. It offers official content from the show since it is developed with partnership with …

    Read more →
  • General 10Pearls and National Geographic Release A Geography Challenge App

    10Pearls and National Geographic Release A Geography Challenge App

    10Pearls, one of the leading Pakistani IT companies, has recently added another feather to its cap. This time, in partnership with National Geographic, 10Pearls has released the new and improved GeoBee Challenge App – an interactive app to challenge and grow the geographic knowledge of the users.

    Each year thousands of schools in the United States participate in the National Geographic Bee using materials prepared by the National Geographic Society. The competition is designed to encourage geography in the classroom, ignite student interest in the world around them, and increase public awareness about geography. Schools with students in grades four through eight are eligible for this entertaining and challenging test …

    Read more →
  • General 10Pearls Spins Off Game Plan8

    10Pearls Spins Off Game Plan8

    It’s heartening to see that Pakistani IT companies have now started to diversify themselves into non traditional areas, and are competing with global players in areas such as gaming. We have received information that 10Pearls, one of the leading  mobile and enterprise web development services companies in Pakistan, has spun-off a separate entity focused solely on developing and publishing casual mobile games.  The new entity, Game Plan8, will focus on creating 2D and 3D games for the iOS, Google Android, Kindle, Facebook and other platforms. Details can be seen on the company’s official press release at http://www.prweb.com/releases/2013/12/prweb11428177.htm

     …

    Read more →
  • General Telecom CCP Gives Guidelines Against Telecom Companies’ Deceptive Marketing

    CCP Gives Guidelines Against Telecom Companies’ Deceptive Marketing

    If only were there two things when it comes to the law, firstly the fear of breaking it and by passing the legal authority, and secondly, implementation of the law given full dedication, there would have been less competency and dishonesty in business and society. However, keeping good faith, the Competition Commission of Pakistan (CCP) has put forward “Deceptive Marketing Guidelines” which will maintain the Section 10 of the Competition Act, 2010. In order to enforce this part of the law and stop anti-competitive conduct on part of the telecom companies in advertising, the guidelines have been shared with Pakistan Telecommunication Authority (PTA) and other concerned telecommunication sector members, in …

    Read more →