‘LUMS Startup Weekend’, in collaboration of Karandaaz Pakistan and LUMS Center for Entrepreneurship (LCE) concluded today with the NFC payment solution ‘Paycard’ winning the competition.
Paycard aims to improve the existing payment solutions by using an NFC-enabled prepaid card which can be charged up to 5000 PKR at a time through an easy load facility. Retailers and sellers can enable a simple swipe-based payment method through Paycard merchant for customers.
Entrepreneurs from all across the Pakistan made it to the event to contribute their efforts towards the development. The first day consisted of 60 entrepreneurs who shared their ideas among which 11 best ideas were selected for the final round. The participants were given 70 hours to prepare, collect material and arrange it in the form of final presentations. Each team was given five minutes to open up their idea, answer the jury and conclude. These 5 minutes were crucial in deciding the winner of the Startup Weekend.
‘Groupie’, an app that provides a way to merge individual pictures of friends into one large group photo secured the second place at the competition. The third place was acquired by ‘Home Grown’ that promotes horticulture.
The seven other of the eleven shortlisted startup ideas included:
1) Freshalla – the fruit delivery website and app,
2) Pakfit – a platform that connects professionals with individuals looking to get in shape,
3) Pak Builds – a digital marketplace for material services providers and contractors,
4) Health Monitoring System – a wearable health monitoring and notification device,
5) Kabara Online – a digital marketplace to sell goods a person doesn’t need any more,
6) Animatica Math – a personalized animation app to encourage kids’ interest in mathematics,
7) Dream X – an Urdu digital assistant which can interpret and run commands given to it in Urdu language.
When the awards were announced in Startup Weekend Lahore the ‘Proximate’ that aims to provide users with relevant ads when they pass near a proximate beacon installed on any retail outlet, received an honorary mention.
Ali Sarfaraz Hussain the CEO Karandaaz Pakistan shared his thoughts about the competition by stating:
“We feel privileged to be part of LUMS Startup Weekend Lahore to inspire youth into pursuing entrepreneurship in their professional careers. Finding and nurturing fresher ideas through proper training and guidance will go on to reinforce and add value to Pakistan’s startup landscape. The advancement in digital technology has helped a lot of promising digital startups to surface in the country which will go on to morph into small and medium businesses in the near future.”