A new and first of its kind business startup show is about to start in Pakistan. The show named, “ Idea Croron Ka ” is a joint venture between Neo TV and Chaudhry Muhammad Akram Centre for Entrepreneurship Development (CMACED) of Superior University.
The show, as announced back in 2015, will be hosted by Nabeel A.Qadeer, Director Entrepreneurship hosting. It took a year of planning and development to launch Idea Croron Ka.
Launching Ceremony of Idea Croron Ka
A logo launching ceremony of Idea Croron Ka show unveiled in Lahore a few days ago. Many of the top industrialists, investors, financiers, and entertainment industry celebrities took part in the launching ceremony of the logo. Chairman Nai Baat Professor Dr. Chaudhry Abdul Rehman distributed prizes worth millions. Shows like Tank in the US or BBC’s Dragon Den inspired this business startup show in Pakistan.
Format of the Show
The show is aimed to provide potential entrepreneurs with a platform where they can present their ideas to business leaders and investors. These experts will evaluate each idea to decide if it offers promising potential. Each show will feature three startups to seek guidance and investment from the mentors.
The show’s first season will include the following personalities from the business world as investors.
- Salim Ghauri, Founder, and CEO, Netsol
- Naeem Zamindar, Pakistan Country Director, and CEO, Acumen
- Humayun Mazhar, Founder, CEO, and Chairman, CresVentures
Dr. Umar Saif will be featured as Business Expert/Advisor, advising startups on improving their business model, and market viability.
Segments of the Show
The show will feature two segments.
Segment 1 – Himmat Karo Pakistan
This segment will cover people who are trying to run their own business and also struggling with earning a day-to-day livelihood. The show promises to show all entrepreneurs in this segment regardless of their income status or educational background. The segment will distribute money to help these entrepreneurs make their ventures commercially viable.
Segment 2 – Pakistan K Superheroes
Pakistan K Superheroes is another interesting segment to inspire entrepreneurs. The segment will cover stories of the successful entrepreneurs. This segment serves an important ray of people who need some inspiration to become successful in their business ventures.
The Process of Pitching A Business Idea
- Every entrepreneur is given the stage to talk to the audiences.
- The entrepreneur shares the amount of investment they are seeking.
- The participants share the percentage of return and stake they are willing to share in their business.
- In the last and final step, they pitch their business ideas and wait for the panel’s feedback.
Entrepreneurship Trends in Pakistan
There are several Pakistani youths with brilliant ideas. However, they either lack the encouragement, financial backing, or the right mentoring to convert their ideas into a business success story. Pakistan has moved a great deal in the right direction. Several new incubation centers are established now for Pakistani entrepreneurs. Some of the leading Pakistani incubation centers include Plan9, NUST TIC, Pasha Fund, SEED Incubation, Microsoft Innovation Center, Telenor Velocity and SMEDA among others.
Why We Need Startup Culture in Pakistan?
There are several reasons why we as a country need to have the startup culture.
- The availability of internet and other enabling technologies make Pakistan a great place to start new businesses.
- The population of Pakistan majority consists of youth with 60% of Pakistan’s population aged between 15 and 64 years.
- The documentation process for registering companies is a lot easier when compared to other countries.
- Successive Pakistani governments have encouraged foreign investors to invest in Pakistan.
- Pakistan is rich in human as well as natural resources, giving an opportunity for different types of businesses to succeed.