U.S. Embassy supported “Pakistan StartUp Cup” aims to bring New Business Ideas

“The Pakistan StartUp Cup is a competitive process that brings to light new business ideas. In this program, aspiring entrepreneurs learn to design viable business models, develop customers, and launch their startup business concepts into the marketplace. Over a period of four months, selected participants receive coaching through “Build-a-Business” workshops and mentoring to help turn their ideas into a commercial reality.” Alex Tatsis, Economic Officer, U.S. Embassy in Islamabad, briefed the media at the Start of The Indus Entrepreneurs (TiE) Islamabad Chapter and the U.S. Embassy Islamabad “Build A Business’ Workshop of Pakistan StartUp Cup, an intensive four-month business competition for aspiring entrepreneurs that began this Sunday in Islamabad.

AlexTatsisThe U.S. Embassy in Islamabad, through its Khushali ka Safar (“Journey to Prosperity”) program aimed at promoting entrepreneurship in Pakistan, is providing financial and other support for the Pakistan StartUp Cup. Through Khushali ka Safar, U.S. Embassy programs assist Pakistan’s entrepreneurs by increasing access to finance, strengthening entrepreneurship education, and nurturing an entrepreneurial culture.

The StartUp Cup winning business will be announced during Global Entrepreneurship Week in November 2013. The first prize winner will receive PKR 1,000,000 in prize money, while second and third place winners will receive PKR 750,000 and PKR 500,000, respectively.

First launched in 2007 in Oklahoma, 44 StartUp Cup Business Model Competitions currently take place in 37 countries. To date, more than 361 new businesses have competed in StartUp Cups worldwide, and 92% of first place winners remain in operation – an unprecedented success rate in this field.

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