PSEB invites young entrepreneurs to pitch for a place in their Plug & Play Incubators

Lots is happening in the entrepreneurial space these days. The NUST Invent campaign is on, the Microsoft Catalyst program (in partnership with P@SHA and TiE) has gone past the training stage, TiECon 2011 is scheduled for April 30 in Islamabad, the P@SHA-CIPE Entrepreneurs Stakeholder sessions are gathering momentum (the first one went off beautifully earlier this week – more about this in another post).

And now Zia Imran, MD of PSEB, has informed us that PSEB will be officially launching its Incubator program at TieCon2011 Islamabad to be held on the 30^th of April. Companies will be able to apply for this program at TieCon . PSEB is encouraging young entrepreneurs and companies to visit PSEB incubators program web page http://www.pseb.org.pk/index.php/incubator to find out more details of the program..

To be considered for the program, each applicant must go through a 2 stage evaluation process in front of a panel of judges. The first step is the “Gong Session” where each candidate will make a 5 minute presentation to a panel of judges highlighting the core idea.  The focus should be on describing the core elements of the idea and any people, businesses or entities who would want to use the product or service (i.e. the target market). PSEB suggests that you  practice your pitch and measure your presentation time. Presenter will not be allowed to continue after his/her 5 minute time is up. Only one presenter from each team will make the entire 5 minute presentation.

If a candidate qualifies after the “Gong Session” stage, he/she will be invited to make a more “detailed presentation”, 30 minutes in length to a panel of judges. PSEB will publish guidelines for the preparation of this 30 minute detailed presentation at a later stage.

The first “pitch session” in Islamabad is scheduled for April 30^th at TieCon Islamabad to be held at the Convention Center.

The first “pitch session” in Karachi is scheduled for May 3^rd; venue to be announced later.

The first “pitch session” in Lahore is scheduled for May 7^th; venue to be announced later.

To apply for any of the pitch sessions, please send an e-mail to incubators@pseb.org.pk with the following details:

Your Name (s):  include names of all members of your team
Name of your company (or product idea):
Contact Phone No:

A PSEB representative will respond back by giving you an approximate time for your pitch. The cut off time to apply is 6 pm the day before the pitch session in each of the three cities.

Please make sure that you have visited the Incubators program web page,  www.pseb.org.pk/incubators to see if the program fits your needs.

Details of the program are given below:

PSEB’s Smart Plug and Play Incubator

Do you have a great idea and need support to execute it and build it into a viable product or a service? We can support you!

We are looking for?

Teams of 1-5 people, “want to be” Entrepreneurs of the following type,

1. Professionals who have already been in the industry 0-10 or more years
2. Students in their 3rd year or 4th year who have a promising final year project or otherwise would like to work on a new idea
3. Anyone who has a decent idea that can change the world or at least make a difference in the life of at least a few thousand other people
4. Student teams lead by a professor
5. Any weird combination of the above

What do you need to have?

1. A lot of passion
2. A half decent technology driven business idea that can at least change the life of a few thousand to a few million people, the more the better
3. An idea that can get to a product or at least a working prototype (not smoke and mirrors) in 6 months or less

What will we provide?

1. Space to hang out, that is, office space with Internet connection, sever, desk, chair and a computer
2. Some seed capital to buy a computer or other equipment
3. Monthly stipend to cover food and transportation, rest is your sweat equity
4. Adult Supervision, that is, two mentors assigned to each company, one technical, one business.

What are the criteria for selection?

1. As stated before, a promising idea that can get to a product or a working prototype in 6 months or less
2. A software or software utility that is commercially viable
3. A software or software utility that is aimed at ICT4D
4. A software, microcontroller system or utility that can serve a commercial purpose or a national need
5. A gadget, circuit or electro-mechanical device/contraption that is relevant to a few thousand to few million people (preferably driven by a microcontroller but not necessary).

Why we think it will work?

1. Dedicated team of Advisors will work with you with at least one monthly face to face meeting and one fortnightly phone call meeting.
2. The Advisors will be accomplished individuals who are either good technologists or successful business persons. They will help you shape your idea, help with tricky technical problems and make your product/service viable.
3. We believe mentorship is the most important ingredient of a successful Incubator, facilities coupled with smart advice.

How can you apply?

1. Send a one page proposal outlining your idea, what problem it solves and why it is (or can be) relevant to at least a few thousand people. Don’t worry about commercial success at this stage to incubator@pseb.org.pk. This e-mail address is being protected from spambots. You need JavaScript enabled to view it with a title Application for Incubation. Please include your name and a phone number to contact you and your university if you are currently a student.
2. Look for us at industry events where we will hold quick elevator pitch sessions (you will have 5 minutes to impress us with your idea)