The Who’s Who: Incubators and Accelerators in Pakistan
This is a guest post by Shameel Mazhar. He is a Creative Director at CresVentures, a Lahore-based Angel Fund. In his spare time, Shameel writes short stories, plays golf and conducts experiments in his kitchen.
We’ve all heard the terms ‘incubator’ and ‘accelerator’ thrown around quite often in the last couple of years. Because the startup ecosystem in Pakistan is still at an early stage, many startups and entrepreneurs don’t understand the difference between the two and how they can benefit.
An incubator is the first stepping stone for a startup looking to actualize an idea.
It’s an interactive process that tackles the fundamental issues that a startup faces from day one. More or less, an incubator equips a startup by providing seed funding, workspace, mentoring and training.
Think of it this way, an incubator raises a startup just like a child, to the point where it can stand on its own feet and make informed decisions.
Y Combinator, based in Silicon Valley, is one of the biggest incubators in the world. It is credited with starting the incubator movement. Many startups have graduated from Y Combinator, but it’s famous for incubating AirBnb, Dropbox and Reddit.
So your idea is sound, you have identified the market, and your product is solid. In other words, your child is grown up and needs a job.
That’s where the accelerator comes into play.
An accelerator is a finishing school, a career counselor of sorts. Like a well-reputed concierge at a five-star hotel, people at a well-run accelerator know how to connect you with individuals or businesses that can benefit from your product. Apart from that, they also provide focused training that can give you an edge.
In return, the accelerators take a small amount of equity or fees. They last for a short period of time and can greatly increase your survival rate.
A great example of an accelerator would be AngelPad, the #1 accelerator in the U.S.
Couple an incubator and an accelerator and you have a recipe for success, right?
Wrong.
An incubator or an accelerator is only as good as the people running it. Until you have a combination of the right people working on the right project at the right time, there’s no telling where your startup might land.
Let’s look at some of the prominent incubators and accelerators in Pakistan to find out what makes them tick.
Incubators
At the moment, there are three incubators creating waves where others are forming ripples.
These incubators have been a source of some of the most promising startups to come into the playing field in the last two to three years.
The first on the list is Lahore based Plan 9.
It has incubated more than a hundred startups since August 2012. Fully funded and managed by the Punjab Institute of Technology Board, it has become a beast by hosting regular Demo Days for startups and spreading the love by partnering with universities to create entrepreneurship centers.
Initially headed by Nabeel Qadeer, Plan 9 did exceptionally well to not just incubate, but promote startup culture in Pakistan.
Qadeer, having served in key visiting-faculty and consultant positions at prominent universities, was an ideal fit for the lead job at Plan 9. Under Qadeer, regular workshops, team-building exercises and demo days created an entrepreneurial frenzy.
It may be a stretch to say this, but Qadeer’s efforts as director for the program were part of the reason why private investment in the sector increased significantly.
Plan 9 is now being lead by Uzair Shahid, tasked with maintaining and echoing the current ecosystem that fosters the growth of startups in the province.
Having worked with Qadeer in the past, we continue to expect things along the same lines from Shahid, a software programmer by profession, in hopes that Plan 9 keeps fulfilling its goal.
Prominent startups incubated at Plan 9 include Markhor, Patari and Travly.
LUMS Center for Entrepreneurship (LCE), based in Lahore, seems like a utopia for entrepreneurs.
In a tryst between ideas and experienced professionals in almost every field, LCE provides a dynamic environment, integrating various departments and years of experience to create a comprehensive and exhilarating experience for startups.
Headed by Khurram Zafar — previously at Plan 9, with extensive experience working with Fortune 500 companies — LCE has a suitable leader to drive the entrepreneurial movement in Pakistan forward.
Being an angel investor himself, he knows what investors are looking for, and seeks to ingrain those qualities into the startups that go through the incubation.
LCE has created an excellent platform for like-minded individuals to gather and share knowledge at LUMS. LCE’s Investors Summit is known in the ecosystem as being top notch and one that brings the best of both worlds — startups and investors.
Notable startups incubated at LCE include Autogenie and Interacta.
P@SHA’s The Nest i/o was always a likely step for the software-oriented organization. It is sponsored and funded by Google, Samsung and the U.S. State Department.
This means that tech startups incubated here can have a hands-on feel to what their end product will look on Google and Apple products.
Furthermore, the foundation of a globally coordinated mission means easier access to foreign investors and networking events such as GES.
Jehan Ara, the president of P@SHA and ‘The Big Bird’ at theKarachi-based The Nest i/o, has played integral roles in entrepreneurial organizations such as The Indus Entrepreneurs (TiE).
An expert in business management, development, and strategy, she champions the incubator effortlessly.
The aptly named incubator does exactly what is expected of it, and has nurtured startups such as Sukoon and Sheops.
Accelerators
Invest2Innovate, popularly known as i2i, is a data-driven accelerator that prepares select startups for seed funding.
With an astoundingly good community of mentors, investors and stakeholders from organizations such as LCE, DotZero Ventures, and Acumen involved in the process from start to end, there’s little chance of going wrong here.
Extensive partnerships with university-level incubators and individuals allow accelerated startups unprecedented access to prominent markets and industry leaders.
Kalsoom Lakhani, the founder and CEO of i2i, has a background in Foreign Policy, with works printed in internationally recognized publications such as the Huffington Post.
The accelerator is headed by Meenah Tariq, a Babson College entrepreneurial graduate and a fulbright scholar. Tariq, along with her technical expertise and productive energy propels i2i’s effort to become the leading accelerator in the nation.
i2i has helped launch startups such as Savaree and doctHERs.
An accelerator complementary to the Plan9 incubator is PITB’s PlanX.
Their website states, “…incubation is only half of the story…” It aims to tailor the disposition of entrepreneurs and team leaders so that they may shake the right hands at the right time.
They’re selective, resourceful and offer a vast amount of flexibility to their ‘chosen ones.’
Led by Mughees Tahir of the University of Glasgow and Forman Christian College, and further propelled by the highly proficient Assistant Program Manager, Eisha Zeb, the landscape looks bright and bountiful for the government-backed duo of organizations — definitely a huge step in setting a precedent for the future.
PlanX has been integral in securing funding for startups like Bookme.pk and Vivid Tech.
Last but not the least, The Founder Institute has accelerators based in more than 45 countries and is easily the most established name on the list.
With a strong affinity for research-driven policies and operating procedures, and an even stronger desire to maintain its own legacy, their mission is to “Globalize Silicon Valley.”
It is the most accredited and regimented program of the lot, with the prioritization of training at its forefront.
Currently, the Karachi chapter is lead by Hassan Qureshi of PerkUp. The Islamabad chapter is lead by Yusuf Hussain, an experienced entrepreneur, and management professional who has worked with several Fortune 500 companies.
Hussain co-founded CresSoft — Pakistan’s first software export company — and is on the Board of TiE Islamabad and Chair of TiE Islamabad Angel Fund.
Directors for Islamabad also include Ahmed Masud, the CEO of Channel 7, and Irfan Wahab Khan, CEO of Telenor.
The globally reputed accelerator has put Touch’D and JustPrice.pk on the radar.
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