KARACHI: Google Cloud, in collaboration with Tech Valley, successfully concluded its inaugural ‘Startup Competition Pakistan 2024’ that saw 700 submissions from over 70 cities, at a grand finale that was held in conjunction with I/O Extended Karachi at IBA with over 1,300 startups and developers.
“As incubators of innovation, startups possess immense potential to reshape traditional industries for a digital-first future, creating new economic opportunities for Pakistan.
Supporting the growth of startups has long been a strategic imperative for Google Cloud. By equipping promising startups with the tools needed to grow and scale, we are making a valuable investment in Pakistan’s long term prosperity, empowering the country for success in the digital economy,” said Farhan Qureshi, Regional Director, Google.
The competition served as a launchpad for innovation, attracting a surge of creative solutions across five key tracks: AI and Generative AI, Fintech, Sustainability and Environment, E-commerce and Connectivity, and Frontier Digital Technologies. Startups refined their pitches and identified areas of improvements through mentoring sessions in major cities of Pakistan.
"This competition has been a testament to the immense potential within Pakistan's startup ecosystem. We are thrilled to have partnered with Google Cloud and Bank of Punjab to provide this platform for our nation's brightest minds," said Umar Farooq, CEO of Tech Valley.
The judging panel consisted of leading local and regional VCs including Indus Valley Capital, i2i Ventures, Sarmayacar, nVentures, Lakson Investments and SEED Ventures. Each winner from the five competition tracks received a cash prize of 1 million PKR and will be offered mentorship from senior Google experts to further refine their ideas. The competition also facilitated connections with leading VCs, opening doors to potential funding. Additionally, all 25 Finalists were offered mentorship opportunities with industry experts including from Bank of Punjab, OPEN Silicon Valley and Orbit Startups.
The competition, strategically supported by Bank of Punjab (BOP), solidified their commitment to fostering Pakistan's dynamic tech scene.
The success of the Google Cloud Startup Competition Pakistan 2024 was fueled by the support of the Google Developer Groups Pakistan and technology companies including Platinum Sponsors Alethea AI and Tridorian, Gold Sponsor Vanar, and Silver Sponsors Aspire, Bookme.pk, and OPEN Silicon Valley. Additionally, OPEN Silicon Valley extended an invitation to all finalists for a visit to Silicon Valley, granting them the opportunity to immerse themselves in the world's leading tech hub.
Leading up to the Finals, a series of Master Your Pitch events was also organised across April and May 2024 in Islamabad, Lahore and Karachi, together with the support of key community partners including Telenor Velocity, NIC Islamabad, Katalyst Labs and COLABS. Promising startups got the chance to pitch their businesses to a panel of experts in front of a live audience and receive valuable feedback.
The Google Cloud Startup Competition follows the expansion of the Google for Startups Cloud Program to Pakistan whereby nearly 10 incubators, including Ignite - National Technology Fund’s National Incubation Centers (NICs), are now Ecosystem Partners. Under this arrangement, their current and alumni bootstrapped startups can benefit from up to US$25,000 in credits, compared to US$2,000 previously.
Copyright Business Recorder, 2024