Dear All, Once again CENTINs efforts are acknowledged at national level in the area of Entrepreneurship. 2 out of 4 teams from UMT are offered place in the Incubation Center of LUMS in LUMS Entrepreneurial Challenge being held on 21st September, 2014. Top 4 teams out of 17 were to be considered for the incubation center at LUMS. Other two teams are from LUMS. Prestigious Universities including PIEAS, UMT, NUST, FAST, GIKI and LUMS participated in this competition.Total number of teams was 17 among which 3 participants were professionals and rest were the students from around Pakistan.4 teams from UMT participated in this event through the platform of CENTIN. It was a two days event; in first round 10 teams were being shortlisted, and none of the UMT teams was dropped. Second round started next day which was more tough and challenging. Alhamdulillah UMT teams got 3rd and 4rth Position there, both ventures are invited to get incubated at LUMS. We would like to thank Dr. Hasan Sohaib Murad and Dr. Ruskhsana Kalim for their moral support and would also like to acknowledge the technical support provided by Mr. Rashid Hussain (X-Director CENTIN), Mr. Dawood Butt and Mr. Hammad Mushtaq. Throughout the process, Ms. Sundus helped and guided the students and gave golden tips to all groups using her 4 year successful experience at CENTIN. AUTO GENIE (Mr. Hamza-BBA 2nd semester and his team) which ranked third is one of its kinds in Pakistan and is acknowledged by the judges that it’s Pakistan’s 1st Virtual Automotive Maintenance Portal.; long term financial projections fascinated the judges. After 5 years this venture could give us minimum 6 Million PKR per annum with continuous gradual growth and more importantly this model serves a need of masses. Target market is broader. Investments are minimum. Other idea was a fuel saving kit (Mr. Ammar -BSc. Industrial Engg just graduated. and his team) using hydrogen cell meant diesel generators. Their idea was especially liked by judges and they are hopeful to provide support for this project at LUMS. LUMS have offered the following benefits to both teams: 1- Stipend (20k each member) up to 4 months in return of 7.5% equity in their ventures 2- Mentor-ship and Marketing Assistance without any fee. 3- All other services which are included in Incubation Program. We wish both the groups success in their future endeavors. Asher Ramish (MS Production Management, Germany) ------------------------------------------------------------------------------------------------- Director Center for Entrepreneurship and Innovation School of Business and Economics, University of Management and Technology, Lahore, Pakistan #MZI #UMT
Posted on: Tue, 23 Sep 2014 17:51:44 +0000
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