A two-day startup competition under the Higher Education Commission’s, Innovator Seed Fund  (ISF) began today. A total of 65 startups will pitch their business ideas before a jury drawn from business experts. Chairman HEC was the Chief Guest at the opening ceremony.

The ISF, an initiative of the HEC, grants the winners of the competition, up to PKR 10 million, involving seed funding and a package of support, to early-stage startups through the recognized Business Incubation Centers.  

This year the ISF, initially received 205 concept notes, out of which 175 were shortlisted for the pitching training. The concept notes received fall in several thematic areas including Agriculture, Transportation, Logistics, Housing, E-commerce, Digital Media, Construction, Food Resources, etc.

Last year 15 projects were funded by this ISF. This year the number to be funded has been raised to 30. Out of the 175 given pitching, 65 startups have been shortlisted for today’s pitching competition. The final award ceremony for 30 winners is scheduled for September 1, 2023, at the Pak-China Center, Islamabad.

The 30 winners will receive up to Rs. 10m in seed funding in addition to support through BICs in the form of entrepreneurial training, legal training and support, financial education, business development service provision, and investment readiness training.