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.