News

10 startups selected in Prosperity Cup for Gilgit-Baltistan & Chitra

Prosperity Cup, a mentoring & coaching program customized to the needs of budding entrepreneurs from Gilgit-Baltistan and Chitral regions, has finally reached its conclusion after four months of mentoring and learning.

Accelerate Prosperity collaborated with The Indus Entrepreneurship (TiE) Islamabad to conduct the four-month incubation cycle. TiE Islamabad, a nonprofit association dedicated to fostering entrepreneurship, hosts networking events and mentors startup founders. Pakistan StartUp Cup, organized by TiE Islamabad, is the biggest competition of its kind, designed to increase the quality and quantity of entrepreneurs in the community.

Prosperity Cup

During 2014-2016’s editions of Pakistan Startup Cup, more than 50 startups from Gilgit-Baltistan and Chitral participated in the competition. TiE Islamabad noticed the overwhelming participation and a tremendous level of untapped potential in the participants from the GBC region. This inspired TiE Islamabad to map out a highly tailored and focused mentoring and coaching program to cater to the needs of aspiring and existing entrepreneurs from the GBC region and the journey of Prosperity Cup in collaboration with Accelerate Prosperity began.

Initial Campaign

Prosperity Cup began in November 2016. During the initial campaign, 2500 applications were received out of which 30 were selected for mentoring and coaching after a rigorous shortlisting process. The local business persons from the GBC region were also trained to become mentors. TiE Islamabad’s signature mentoring process proved a valuable learning experience for the participants.

10 startups selected

During the Investment Readiness phase, mentors trained the selected participants to improve their business models. Ten startups have been selected to go forward and pitch to investors. 5 of these great startups will receive investment from Accelerate Prosperity and will be able to realize their dreams of becoming active participants in the budding entrepreneurship ecosystem in GBC.

Murtaza Zaidi, Executive Director of TiE Islamabad, said, “Prosperity Cup has reached its conclusion, but the real journey for entrepreneurs has just started. We loved working with Accelerate Prosperity; their vision to transform GBC into a progressive region through entrepreneurship development is remarkable and we are now even more excited for the future. We intend to continue working in GBC to support and mentor the local entrepreneurs. We’re especially grateful to TiE Islamabad’s mentors who traveled thrice to GBC.”

Sponsored
Maheen Kanwal

Maheen Kanwal is a Tech Journalist at TechJuice. She covers the latest technological, telecom and business related, local & global news. (Reach at maheen@techjuice.pk)

Share
Published by
Maheen Kanwal
Tags: TiE

Recent Posts

Rumors Indicate iPhone 17 May Feature Unconventional Camera Design

Apple is reportedly preparing for a significant design overhaul with its iPhone 17 series, blending…

5 hours ago

First AI-Powered Teacher Launched in Pakistan’s Private School

Karachi: A private school in Karachi has unveiled Pakistan’s first AI-powered teacher, a groundbreaking move…

6 hours ago

Yahoo Surprises Users with Its Latest Android Launcher

Third-party apps have long been a staple of the Android ecosystem, but their appeal has…

7 hours ago

Phase-II Review of PTCL-Telenor Deal Finalized by CCP

ISLAMABAD: The Competition Commission of Pakistan (CCP) has completed its Phase-II review of Pakistan Telecommunication…

8 hours ago

Xiaomi’s SU7 Achieves New Production Record, Driving Q3 Growth

Xiaomi has shattered records by producing 100,000 vehicles in just 230 days. This is nearly…

9 hours ago

Teachers Can Now Access OpenAI’s Free AI Course

OpenAI, in collaboration with nonprofit organization Common Sense Media, announced on Wednesday the launch of…

10 hours ago