LUMS introduces the first batch of The Foundation incubator at LUMS Center of Entrepreneurship
LUMS Center for Entrepreneurship, recently inaugurated by Pakistan’s leading businessmen, including Syed Babar Ali and Mr. Abdul Razzak Dawood, has already inducted its first batch of startups into The Foundation business incubator.[blockquote cite=””] LUMS, the nation’s most prestigious higher education institution, built the Center for Entrepreneurship with the vision to make it the largest breeding ground for sustainable, high-growth and high-impact businesses in Pakistan. [/blockquote] The management of the center, headed by Mr. Khurram Zafar, an entrepreneur himself, as well as an independent council of leading entrepreneurs of the country scout for promising upstart businesses all over Pakistan and inducts the most promising ones into this four month program. The Foundation offers co-working space, utilities, internet, and other administrative support to the startups as well as access to a network of world-class mentors, business leaders and investors who guide and groom these young, passionate entrepreneurs. The center is also collaborating with investors to put together a seed stage investment fund for the startups as well as collaborate with business center developers to offer subsidized office space to the graduates of the Foundation program.
The teams that have been inducted as the first batch of The Foundation includes;
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- Cognitica, which develops augmented reality based mobile and marketing solutions.
- Beed, based on research done at LUMS, this team is working on making all broadcast content interactive with the aid of smart phones.
- Savaree, this company is building a trust-based, ride share social network that allows drivers to monetize the free passenger seats in their cars by posting routes and connecting with riders that share that route.
- Bugdev Studios, a team of very passionate mobile game developers and designers that build and publish creative, fun, action-packed games that make people think, feel and enjoy.
- BizClout, a one-stop solution to fully e-commerce enable SMEs with-in 15 minutes using a proprietary content management and ecommerce platform. The company offers value-added products to promote and market these online brands as well.
- MARO, oven baked bread (tandoori Roti and Naan) is one of the most commonly consumed food item in Pakistan and MARO aims to setup a network of ‘Tandoors’ that provide healthy bread and an immaculate consumer experience at the same price as traditional ‘Tandoors’.
- Appography, the company aims to improve the customer experience by introducing a visual navigation IVR (Interactive Voice Response), in a clutter-free, simplified and more consumable manner on customer smart phones.
The Foundation is one of the many innovative projects under the LCE banner with other centers in progress such as the Skills Commercialization Centre and a Corporate Innovation Center amongst others.[info]About LUMS Center for Entrepreneurship (LCE)
From its founding by Pakistan’s leading entrepreneurs to its management by country’s most successful businessmen and innovators to an impeccable track record of entrepreneurial successes led by the university alumni, LUMS enjoys a rich and celebrated entrepreneurial history.
LUMS Center for Entrepreneurship (LCE), setup as an independent center under the LUMS umbrella, aims to formalize the institution’s support for entrepreneurship. It is the nation’s most comprehensive experiential development platform for budding entrepreneurs that formalizes the process of scouting, grooming and facilitating passionate startup founders.
LCE aims to build a comprehensive entrepreneurial ecosystem, with LUMS at its epic center, that will bring together everything and everyone required to maximize the growth potential of Pakistani entrepreneurs.[/info]