Startups Incubator nurture the young Startup Owners and Provide Tools to test and Consult their Ideas and build the Capacity of Entrepreneurs to manage their Business in a Professional manner as well as help the Startups with finance 10% to 20% of the Equity Share and organize Workshops ,Seminars and Meet Ups with Successful Entrepreneurs and plays the role of Platform to Connect the Idea Makers with Idea Supporters means Startups with Angel Investors and powering up Startups with funds and Capacity to run the Startups Successfully . The Detailed Blog post regarding the Incubation and incubators‘ role has already appeared on StartUps Pro,Inc . There are several Incubators and Startups accelerators but we are discussing only three best startup incubators which have the highest number of Portfolio companies .
1. YCombinator.com : Headquartered San Fransico , Y Combinater is the biggest Startup Incubator and Accelerator . The biggest Startup Companies such as DropBox. Reddit, DisQus ,WePay , AirbnB and Scribd are the just Few Prominent names in their biggest Portfolio . They have founded reportely over 700 Startups and they are running successfully powered by YCombinator accelerator Team . Y Combinater is maintaining its quality and influence among Startup Incubators and Accelerators . Ranked as Gold Level as per the survey conducted by Two professors Hochberg and her colleague, Professor Susan Cohen of the University of Richmond and the Batten Institute at the University of Virginia’s Darden School of Business. They used the basic information from CrunchBase website . The total Valuation of the Company has been estimated $30 Billion Dollars as per their website . Y Combinater also provides seed funding to the Startups in launching phase.
2.TechStars.com : Techstars is the growing Startups Incubator and Accelerator which provides $118,000 in seed funding to the Startups , imparts intensive mentorship having an amazing network of mentors . The Seed funding is about for 7-10% equity in the Startup Companies . The Company has huge stake in the portfolio companies . The Prominent among the startups include Accountable , Ads native ,AdsTruc , AdYapper, BriteHub , Contently, Grove, Squirrel and WorkMob etc . The List of Portfolio companies is too large as TechStars have acquired several Startups to boost their Portfolio . TechStars has become the Leading Seed Funding Provider , Startup up Incubator and Accelerator .
3.Excelerate labs : Excelerate labs is ranked third as per above mentioned Survey as per the statistics of the company . According to policy they only Select 10 Startups from the 100s of Startup application and train the selected Startups for three months in Modules such as First Month is fixed for Mentor Immersion , The Second Month is for Business Acceleration and third Month is for Finance Crash Course & Demo Day Preparation . Finally the Startups are showcased to 500 Investors and attract the prospective investors if the startups attracted those investors . Some of the Portfolio Companies include alltuition , Fango, Food Genius,Goshi,SpotHero and Scholar Pro . They invest in portfolio companies upto $25,000 each in exchange for 6% common stock in the Startups .
Sania Approves Cognitive API Architecture For Ehsaas’ One Window Socioeconomic Registry
Islamabad: The Cognitive API architecture for Ehsaas’ National Socio-Economic Registry 2021 is one of the six main pillars of ‘One Window Ehsaas’. With the survey, which is building the registry currently 90.5% complete nationwide, Ehsaas is firming up its plans to open data sharing and data access services for all executing agencies under Poverty Alleviation and Social Safety Division (PASSD).
Data sharing will be done through the Cognitive API Architecture approach. The deployment of Ehsaas API architecture for data sharing will allow executing agencies to access data from the unified registry in real-time to validate beneficiary information. This will empower them to ascertain eligibility of potential beneficiaries. The benefits which each family and individual is receiving from each organization will be visible to all agencies across all Ehsaas programs.
There will be two-way data sharing; agencies with whom data will be shared will also be required to update the registry with their own information, hence the registry will become more robust over time. A final presentation was made to Dr. Sania Nishtar who closely oversaw this process. She praised the technical team working on Ehsaas Cognitive API Architecture approach and congratulated them. Later, this service will be extended to provinces and other government agencies implementing Ehsaas programs as well.
The API architecture for data sharing will facilitate adoption of the Ehsaas One Window targeting Policy. The objective of this policy is to make targeting predictable, evidence based, transparent and effective in the Ehsaas ecosystem. Under the same architecture, the Utility Stores Corporation has also been linked with the Ehsaas database, which will underpin execution of a commodity subsidies program. This approach is being adopted for the first time and will usher in transparency. Previously, there was no way of one government agency knowing what support an individual or a family was getting from another government agency.
Some families with connections and influence were getting multiple benefits and other more deserving ones were getting none. Now, with the data integration, Ehsaas agencies will be able to see what benefits an individual or the households is getting. But more importantly, it will also reflect their entitlement in terms of various Ehsaas programmes and initiatives, because the data sharing is pegged with the Ehsaas One Window targeting Policy.
The integrated registry and the cognitive API Architecture for the registry is one pillar of the One Window Ehsaas, which will be launched this week. It has six main components: one-stop-shop centers; an integrated digital interface facing the office; a digital information and services platform; a mobile app; an integrated database comprising of cognitive API architecture; and the standardized beneficiary targeting policy.
Karachi-based digital bookkeeping startup, CreditBook raises $1.5 million in seed funding
The Karachi-based digital bookkeeping startup CreditBook, which is trying to ensure that tracking of transactions goes digital, has announced that it has raised US$1.5 million in seed funding from international and local investors.
Key investors included Pakistan’s BitRate Venture Capital, VentureSouq from the United Arab Emirates, US-based Better Tomorrow Ventures, Ratio Ventures, Quiet Capital, Toy Ventures, and i2i Ventures.
Established in June 2020 by Hasib Malik, Iman Jamall, and Hisham Adamjee, CreditBook strives to help microentrepreneurs digitalize and track their transactions.
CreditBook aims to utilize the funding to scale its user base and diversify its product offerings. As indicated by the startup, its registered client base grew 5x in the last six months to reach 500,000.
“Before the launch in June 2020, we had planned to use a mix of digital marketing and offline acquisition. But with lockdown restrictions, we pivoted to a purely digital strategy. We were surprised when we saw thousands of users come onto the platform in the first month with less than $1,000 in total spend,” Malik told Tech in Asia. Via TechinAsia
Pakistan Moves Closer to Train One Million Youth with Digital Skills
Karachi, Pakistan, February 05, 2021 ………Pakistan has a large labour force that stands among the top 10 largest labour forces in the world, and it’s growing day by day. To create adequate employment opportunities for them is a huge challenge. On the other hand, employers frequently keep saying that they are unable to find workers with the appropriate skills necessary for their businesses. This obviously shows that there is a mismatch between the demand and supply of skills.
The International Labor Organization (ILO) has shown that skills development can play a major role in the alleviation of poverty, when carefully planned and implemented in the context of the available and emerging employment and income-generation opportunities. This multiplies many folds when the skills are acquired in the digital spheres. It not only widens the work opportunities but also opens up avenues for entrepreneurial ventures as well.
Extreme Commerce, Pakistan’s largest and renowned E-Commerce capacity building platform has excelled in its mission of making Pakistan a hub of entrepreneurial opportunities. Under the guidance of Sunny Ali, thousands of aspiring individuals from Pakistan have successfully initiated global e-commerce businesses.
Extreme Commerce, Pakistan’s largest e-commerce skill development and the entrepreneurial platform has achieved yet another milestone with the expansion of 100+ skills training courses through the “Video Boot Camp (VBC).” The Video Boot Camp includes virtual sessions and videos encompassing around 100 essential e-commerce and digital skills required to excel in the spheres of online businesses. The Video Boot Camp training program is specifically tailored to facilitate the budding entrepreneurs and businessmen and freelancers.
According to Ali, “E-commerce has skyrocketed after the pandemic and is estimated to grow to a whopping $4.3 trillion within this year.” He further adds, “There is a huge potential for growth in eCommerce both domestic and international, and that is why Extreme Commerce has pledged to enable people to bring at least an additional $1 billion each year into the Pakistani economy through E-Commerce skills by 2025.”
The Video Boot Camp includes over a 100 plus income generating E-Commerce skills (income streams) which an entrepreneur needs to skyrocket their businesses. Some skills offered through the VBC include: Selling through Fulfillment by Amazon (FBA) model, Virtual Assistant and FBA Freelancing, online store management of international and local E-Commerce marketplaces, bookkeeping account management services, digital and social media marketing, content writing and graphic designing, 3D designing & modelling, data science and analytics and more.
This initiative of Extreme Commerce will be immensely fruitful in helping their trainees become leading entrepreneurs of the country. Ali, contented with his vision states, “At Extreme Commerce, we offer a multitude of digital skills that are categorized into 100+ courses/income streams under the umbrella of Video Boot Camp (VBC 2021). These skills are pivotal to reducing unemployment and enhancing the capital of our country.” Sharing his focus and goals, he adds, “Skills that actually help you succeed as an online freelancer and even in the real-life environment plus increase your income thereby, are our prime focus right now.”
Earlier, Extreme Commerce and Mishal Pakistan, the Country Partner Institute of the World Economic Forum had signed a partnership to mainstream e-commerce in Pakistan, this includes capacity building initiatives for the media and industry players, including trainings, seminars and workshops.
The government of Pakistan has estimated digital skills global industry, often referred to as online outsourcing, is expected to generate gross service revenue between $15 billion and $25 billion in 2021.
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