About the New Venture Contest
Industrial Partnership Projects (IPP), in collaboration with Engineers for Community Welfare (ECW) of Pakistan, Khwarzemic Institute of Computer Sciences (KICS) Pakistan, and Akhuwat Pakistan plans to host a competition for aspiring entrepreneurs from November 5, 2023 till April 24, 2024. This will be a business ideas competition, inspiring young entrepreneurs to develop their business dreams to make them real. All entrepreneurs, including Graduate and undergraduate students, can join to promote their proposals and compete for up to top-prize of $20,000 interest-free loan for starting their business.
This will be a partially virtual new enterprise championship. Participants shall embark on a journey
unlike any other. It will be a chance for them to pitch their venture plans and compete for up to $20,000
in interest-free loan. In addition, all participants receive unparalleled feedback from world-class business
professionals and obtain attention from different investors.
Sign Up for the 2024 Competition
Please review the competition details of NVC 2024 to learn about the submission requirements before you submit your proposal.
Once you have read the competition details, please click below to submit your proposal for competition.
If you have a question, please send an email to info@ippus.org.
Award Money for the 2024 Competition
The NVC is a multiple round competition culminating with in-person presentations of the top three proposals to a panel of expert judges. Prizes in the form of non-interest loans shall be awarded as follows:
1st Place – $20,000
2nd Place – $10,000
3rd Place – $5,000
The loan will be returnable in installments after
the first two years of the full payment of the loan.
Schedule
- Nov 5, 2023 – Executive summary submission deadline for the qualifying round
- Nov 12 to Dec 10, 2023 – Executive summaries assessment
- Dec 25, 2023 – Announcement of (10) semi-finalists
- Feb 4, 2024 – Submission of detailed business plan for the final round
- Feb 17 to Mar 3, 2024 – Interviews and presentations
- April 17, 2024 – Finals round and awards presentation
Judging Criteria
To maintain a sustainable edge, businesses must combine economic interests with environmental and social values. That is why we expect our semifinalists to address aspects of their companies that will positively impact our society and environment.
Judges shall look for teams’ plans for managing their resources to their advantage and the means with which they intend to use the information to make a durable and transformative impact in a world where human capital is abundant. Providing employment opportunities and import substitution should be a focus.
Format for the Contest
A brief description is given below for the NVC plan; the pool of the participants is narrowed during the course of the competition:
Round 1: Executive Summary (Online) Participants shall submit an Executive Summary (two-page maximum) of their business concept and verify their stake in the. Entries must be received by 11:59 p.m. Pakistan Time on Nov 5, 2023. The top 10 teams will be informed of advancement to the semi-final round by December 17, 2023.
Semi-final Round: Business Plan and Presentation The teams that move to this round will require to submit a complete business plan, cap table, verification of establishment of a legal entity (if available), and tax forms (if open) by 11:59 p.m. Pakistan Time on February 4, 2024. The semi-finalists will also be asked to submit a video recording for pitching their idea to judges. The judges, after viewing the video, the plan, and other submitted documents, shall grade the new venture ideas. All 10 semi-finalists will be invited to participate in the in-person final round.
Finals Round: All ten semi-finalists are required to attend the final round on April 24, 2024. The venue will be announced at a later date. The teams are encouraged to present their demo, plans, and highlights.
Judging Review and Final Scoring: Judges will review presentations and finalize the scores. Winners of the 1st, 2nd, and 3rd awards will be announced at the Awards ceremony on April 24, 2024.
About The Judges: More than 60 industry leaders shall comprise our panel of judges. Our respected judges shall provide
competition participants valuable feedback and invaluable guidance from the real world at all levels. With
their enhanced experience of local industries, our esteemed judges may mentor and provide
critical analysis to participants. This is a competition and a platform for learning and gaining
expert knowledge of the business world.
Contest Rules
The competition rules are available here.
Our Judges
Professor Entrepreneurship and Business Strategy & Ethics
Innovation Professional
Senior Director, NXP Semiconductors
Chartered Accountant
Business Transformation/Global Strategist/Global Business
Professor at UT Arlington; Author
Music Tech Entrepreneur
Startup Advisor & Engineering Manager
Entrepreneur/Engineer
Engineering Program Manager
(picture pending)