The Bank of Punjab (BOP) and Google Cloud concluded the Startup Competition Pakistan 2024. BOP celebrated five winning startups from 700 submissions. This event underscores BOP’s commitment to innovation and Pakistan’s growing presence in the global startup scene.
Creating an engaging platform for startups to connect, collaborate, and explore new opportunities. The event focused on crucial topics like AI, generative AI, data monetization and cybersecurity, providing participants with valuable insights and networking opportunities.
This meetup not only fostered a sense of community among startups but also highlighted the commitment of BOP and Google Cloud to support the growth and success of Pakistan’s tech ecosystem.
BOP and Google Cloud joined forces to co-host a dynamic Startup Meetup Block Party.
The Bank of Punjab (BOP), in partnership with Google Cloud and Tech Valley, concluded the Google Cloud Startup Competition Pakistan 2024. The Grand Finale of the Google Cloud Startup Competition Pakistan 2024 was nothing short of spectacular.
Held at IBA Karachi, the Startup Competition Pakistan 2024 saw 700 submissions from over 70 cities, with five startups emerging as winners. This Startup Competition Pakistan 2024 highlights BOP’s ongoing support for innovation and entrepreneurship, offering financial rewards and mentorship from industry leaders.
With five standout winners taking home a total of 5 million in cash prizes, the event drew an audience of over 1,000 people who filled the venue with palpable energy and excitement. The competition showcased the best of Pakistan’s entrepreneurial spirit.
Mr. Zafar Masud’s Closing Remarks at the Google Cloud Startup Competition Pakistan
The Dawn of a Digital Future
As the curtains drew on the inaugural Google Cloud Startup Competition Pakistan 2024 event, Mr. Zafar Masud, President & CEO of the Bank of Punjab (BoP), delivered a powerful closing address that encapsulated the spirit of innovation and entrepreneurship that had defined the event.
Celebrating Achievement and Potential
Masud began by congratulating the winning startups, commending their ingenuity, perseverance, and dedication to transforming industries. He emphasized the significance of their achievements, not only for themselves but also for Pakistan’s burgeoning startup ecosystem. Their success was a testament to the country’s growing reputation as a hub for innovation and entrepreneurship.
The Bank of Punjab’s Role as a Catalyst
The CEO highlighted the Bank of Punjab’s unwavering commitment to supporting entrepreneurs and fostering a culture of innovation. He underscored the bank’s role as a catalyst in driving the growth of the startup ecosystem, providing essential financial services, mentorship, and access to resources. By partnering with Google Cloud, the bank had demonstrated its leadership in the digital age and its ability to empower startups with the tools and support they needed to succeed.
A Testament to Pakistan’s Potential
Masud emphasized that the success of the Google Cloud Startup Competition Pakistan was a testament to Pakistan’s immense potential in the realm of technology. He expressed his belief that the country was poised to become a global leader in innovation and entrepreneurship, driven by the creativity and passion of its young talent.
Looking Ahead: A Brighter Future
In his concluding remarks, Masud urged the startups to continue pushing the boundaries of innovation and to strive for even greater heights. He expressed his confidence in their ability to shape Pakistan’s digital future and contribute to the nation’s economic growth. He also emphasized the importance of collaboration and partnerships between startups, corporations, and government agencies to create a thriving ecosystem that would benefit everyone.
A Call to Action
Masud concluded by calling upon the government, investors, and other stakeholders to join forces and create a supportive environment for startups. He emphasized the need for policies that encourage innovation, facilitate access to funding, and promote entrepreneurship. By fostering a culture of risk-taking and experimentation, Pakistan could unlock its full potential and become a global leader in the digital economy.
A Legacy of Empowerment
Mr. Zafar Masud’s closing remarks at the Google Cloud Startup Competition Pakistan served as a powerful reminder of the transformative potential of technology and the importance of empowering entrepreneurs. His words inspired a new generation of innovators and reinforced the Bank of Punjab’s commitment to supporting the growth of Pakistan’s startup ecosystem. As the country continues to embrace digital transformation, the legacy of this event and the vision of its organizers will undoubtedly play a significant role in shaping its future.
Mr. Zafar Masud Speech Transcript at Google Cloud Startup Competition Pakistan 2024
As we gather here tonight, we mark an important moment for Pakistan.
This is a time when technology has the potential to reshape our economy where startups can quickly change Industries and where innovative ideas can improve the lives of many.
For the first time in the Asia Pacific region, Pakistan is hosting this event, this significant event. The recognition highlights the untapped potential and talent within our nation.
The bank of Punjab is no stranger to supporting the startup ecosystem in Pakistan. We embarked on our own digital transformation in 2020 2021 for Lending and Payment Solutions. We are integrating various services into our DiGiBOP mobile app offering a mini app section for our customers to access the full range of digital Financial products and services.
I also commend the hard work of the team at the bank of Punjab whose dedication has been instrumental in supporting and empowering entrepreneurs.
Thank you very much ladies and gentlemen!
Press Release
BOP & Google Cloud Empowers Local Entrepreneurs at the Startup Competition Pakistan 2024 Finale
Karachi Pakistan: The Bank of Punjab (BOP), in strategic partnership with Google Cloud and Tech Valley, successfully concluded the ‘Google Cloud Startup Competition Pakistan 2024’ in an auspicious Grand Finale held at Institute of Business Administration (IBA), Karachi. This startup contest marked Google Cloud’s first-ever initiative of its kind, in the Asia-Pacific region, attracting wide participation with 700 submissions from over 70 cities across the country. Each application underwent a rigorous screening process, resulting in the selection of 25 startups to compete across five distinct tracks. On the day of Grand Finale, five startups emerged as winners of the competition.
BOP’s innovation journey took a leapfrog in 2022 when it established its first digital innovation center at LUMS. Since its inception, the center has hosted numerous events including the largest hackathon, ‘Sprint Pakistan’ in 2023. This year the bank formed a strategic partnership with Google Cloud for supporting startup communities in Pakistan; a goal that resonates with BOP’s vision.
The startup competition showcased innovative solutions in five tracks with one winner to emerge in each. These were, A1 and Gen A1, Fintech, Sustainability and Environment, E-commerce and Connectivity, and Digital Frontier Technologies.
The judging panel included leading VCs such as Indus Valley Capital, i2i Ventures, Sarmayacar, nVentures, and SEED Ventures. Winners in each track received 1 million PKR and mentorship from senior Googlers. All 25 finalists were offered mentorship from industry experts, including those from Bank of Punjab, Google, and Orbit Startups.
Mr. Zafar Masud (President & CEO — BOP) noted at the ceremony, “BOP takes immense pride in empowering entrepreneurs and founders by offering unparalleled opportunities like this one and its support for various such endeavors in the past 3 years is a testament to this. Hosting Pakistan’s inaugural Google Cloud Startup Competition underscores our dedication to strengthening the startup ecosystem in this region. I congratulate the winners for showcasing their exceptional talent, and we remain committed to providing impactful platforms and services that support startups both locally and globally.”
“As incubators of innovation, startups possess immense potential to reshape traditional industries for a digital-first future, creating new economic opportunities for Pakistan. Supporting the growth of startups has long been a strategic imperative for Google Cloud. By equipping promising startups with the tools needed to grow and scale, we are making a valuable investment in Pakistan’s long-term prosperity, empowering the country for success in the digital economy,” said Farhan Qureshi, Regional Director, Google.
The competition received substantial support from key sponsors, including Platinum Sponsors Alethea A1 and Tridorian, Gold Sponsor Vanar, and Silver Sponsors Aspire, Bookme.pk, and OPEN Silicon Valley. Additionally, OPEN Silicon Valley extended an invitation to all finalists for a visit to the renowned tech hub, Silicon Valley.
Moreover, the announcement of the Google for Startups A1 Academy for Asia Pacific will see at least one Pakistani startup selected for the inaugural cohort. This program emphasizes responsible A1 and provides access to Google’s ecosystem Of experts and technologies. The chosen team will participate in a three-day boot camp in Singapore, a major global startup hub.
