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Five Reasons why Startups should apply for Startup Incubation

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Ideas change the whole scenario and unlock the streams of Profits if implemented with due care and Professionalism. Business Community always appears to be keen to either invest directly or become angel investors in the startup Companies. But the question is very difficult to be answered that who the investors are and where they are . These Questions revolve in every Idea Creator or Entrepreneur all over the world. Even after the launch of Startups , the Small Business Owners fails due to lack of creativity, capacity in managing their Business and very poor Networking to interact and get the expert opinions, Do Market Research before entry into certain marketers .

How to judge the capacity of the competitors and the level of brand life cycle . These trivial matters always surround the young entrepreneurs during their brainstorming phase or planning phase .The Startup Incubation is best solution to queries and where startups get empowered , energized and Networked to Investors . The Following reason will clarify why startup needs to apply for Startup Incubators .

1.Training and Capacity Building : At startups Incubation centers , the Entrepreneurs or Idea Makers under go a rigorous training based on their Business Nature , theme and Targets . They also run the techniques of how to run the Startups successfully following the Foot prints of the Established Business Founders . They can also take expert opinions from Business Consultants, Business Planners , Legal Experts and Marketing Gurus and Learn the techniques to super charge their Startups and the ways to transform their Startups into Money Making or Profitable businesses. The Startup Owners or Teams may undergo training for three to four months and come up with great Ideas and Skills .

2.Get Seed Funding : Incubators help the Entrepreneurs to seek funding for their Ideas mostly 10% to 20 % of the Total investment and give the lifeline to the selected Startups as Startup Incubators specify the Sectors in which they work with Startups and build their Technical Expertise along with Financial ability to help them concentrate on building great teams and Staff to make it operational in a professional manner .

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3.Legal Assistance and Awareness : Startup Incubators also help the Startup owners to have knowledge of company regulation laws or Laws related their business where the company would be headquartered which may be the steps involved in registration of Company as LLC , Limited Company , Corporation etc . They also provide legal opinion of Startup and its legitimacy and the Process involved before launch . Legal Experts also helping drafting Company laws , Policies , Contract Documents , Share Holder terms of engagement and Stock Market registration process.

4.Networking with Investors: The Best thing for Startups would be the Networking. Startups Incubators help connect the prospective Angel investors to the Startup Owners thus smooth the way of Startups to pitched successful without financial constraints which may hamper or affect their growth since funds help startups to stand against all odds and challenges popping up time to time . Networking with Co-Startup owner will also help the startups lean from one another and Exchange Ideas or engage in group discussion which may assist in removing your fears of failing or clarify any doubts in your mind regarding the proposed Business.

5.Tools ,Space & Sessions: Startup Incubators besides providing you fund also equip you with tools , Internet access, Computers and Space to turn your Red into Black means turning your Ideas into Words and discuss with startup Mentors , Experts and Fellow Entrepreneurs. Attend Workshops, Summit, Meetups and Polish your Personality and turn a new leaf with the pursuit of an Entrepreneurial career. You also interact in live sessions and present the Ideas before the Startup owners and get inspiration from the Successful Entrepreneurs.

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Startup Incubators house over a dozen Startups for incubation service. The world has got bigger Incubation centers for Startups which may house thousands of Startups. Some virtual Incubators can house up to millions provided that startups must match with their sectors such as Internet-based or ICT based Startups.

 

Economy

Sania Approves Cognitive API Architecture For Ehsaas’ One Window Socioeconomic Registry

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 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.

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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.

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Digital

Karachi-based digital bookkeeping startup, CreditBook raises $1.5 million in seed funding

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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

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Digital

Pakistan Moves Closer to Train One Million Youth with Digital Skills

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Enabling people to bring at least an additional US$1 billion each year into the Pakistani economy through E-Commerce skills by 2025.

Pakistan Moves Closer to Train One Million Youth with 100+ eCommerce and 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.

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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.

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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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