1st Position - $10,000
Abd Ullah Hidayatullah
AsTechSolutions
Smart Helmet Project is all about designing locally manufactured low cost
ece certified smart helmet. IT is initially a B2B product enabling Organizations to ensure the
safety of their riders by monitoring their helmet status
2nd Position - $5,000
Zohaib Ahmed
GoVend
GoVend is a femtech startup aiming to improve the accessibility of menstrual hygiene products by providing feminine hygiene vending machines to educational institutions, workplaces, hospitals, shopping malls, and other public places.
3rd Position - $2,000
Saad Arslan
Technokrates
Technokrates (Pavement bricks) is an engineering solution providing startup with a mission to
reduce waste plastic from our environment, our product Eco-Bricks are manufactured using a
three stage manufacturing process which uses specific ratio of waste plastic and sand.
The Competition
The 2023 New Venture Contest ran from October 15, 2022 to April 22, 2023. A total of 71 submissions were received and rated by a panel of over 50 judges from across the world. The final round was held on May 2, 2023 at the University of Engineering and Technology, Lahore, where the top three proposals competed for the following awards: Prizes in the form of no-interest loans were awarded to the top three teams as follows:
- 1st Place – $10,000
- 2nd Place – $5,000
- 3rd Place – $2,000
Schedule of the 2023 Competition
- Oct 15, 2022 – Competition Launch and registration
- Nov. 30, 2022 – Executive summary submission for the qualifying round
- Dec. 1 to Jan. 7, 2023 – Executive summaries assessment
- Jan. 8, 2023 – Announcement of semi-finalists
- Feb. 17, 2023 – Submission of detailed business plan for the final round
- Mar. 4 to Mar. 19, 2023 – Interviews
- May 2 – Final round and ceremony