A great success for Young talent of Pakistan on Smartphone app technology
Ali Rehan and his friends were almost like any other students in Pakistan. Their life changed for the better, when they won the Pakistan’s Start Up Weekend hackathon. These Phd students left their education and research and moved on to make a project concentrating on photography applications. The app become so famous that within a few weeks, they were offered a whooping amount of $100,000 as an investment proposition towards 60% equity in a start up project called Eyedus, to revolutionize latest technology for mobile industry.
However ,the students of Syed Babar Ali school of science and engineering held at Lahore University of Management Sciences rejected the awesome offer from the unnamed investor and instead opted for Plengineera 9 that was a government run project which allowed them to own 100% of the shares. After a span of 6 months, it has made a mark for itself by launching famous apps like Groopic and Ios app that allows one to super impose pictures in a group picture taken. Now, the team is also looking at other innovative ways and means to expand their projects and make a mark for themselves.
If you ask the boys, that what prompted them not to accept the huge sum of money and fly solo, the answer comes that they were aware of their strong team and ideas. They knew that they could make it but simply required funds to implement the same. By accepting the first offer they would have have given away 40 % of their due share to others. However Plengineera 9 allowed them to believe in themselves and try out their luck without having to compromise in terms of losing control over the company.
This is just one of the innumerous stories that are seen in Pakistan in the recent past. The young set of talented who wants to try their own entrepreneurship is trying their luck in the same with the help of such amazing Government projects. There are many such small ideas that are being funded by the Government till it is converted into a smart business plan. In a way, steadily it is paving the path of the technical advancement of the country
This concept of Plan 9 was formed last year by the Punjab Government. It is basically an incubator project that gives budding entrepreneurs with excellent ideas and concepts a span of 6 months to boost their business. During this span of 6 months they will get capital to start up the business, business amenities and also a stipend. That’s not all, the Government will also ensure that you are connected with mentors and investors to ensure that the project is a success. One batch of such entrepreneurship projects have already been laid out and now the second batch are being selected. This is an amazing way for the fresh ideas to be implemented into reality. Most freshers might have an innovative idea but thanks to lack of funds, expertise and connections, they might not be able to implement the same into reality. This aspect is taken care by these Government backed projects.
This is a way devised by the Government to induce fresh ideas and talent into the field of latest gadgets and technology. For a country to compete with others, it is important that it is equipped with the latest technology and uses the same for its advantage.
This is a great way to ensure that not only does the Government get innovative ideas but also the students get a much required backing from the Government. In this time frame of 10 months, the government ensures that all issues that might crop up for a new set up is dealt with. They provide a platform for talent to flourish and ensure that they take good care of the students and back them adequately. The idea has been well received by the talented student’s fraternity and many are raving about this ingenious plan. Post 6 months, these start up projects have the required know how to strive alone in the industry and make a name for itself. Many youngsters have applied for the second phase of selection and waiting to be selected by the team.Buffer