Friday, May 31, 2013
A cross-border business plan competition
"Startup Dosti" is to be launched by an American think tank that will
connect entrepreneurs from India and Pakistan, facilitating investment
and collaboration. The new cross-border business plan competition,
named "Startup Dosti", will be formally launched at an event on June 3
at the British Parliament. The competition by Atlantic Council will
provide business support and seed funding to high-potential, early stage
startups in India and Pakistan. A partnership between SEED Ventures
(Karachi-London), the Indian Angel Network (New Delhi), and the Atlantic
Council (Washington DC), the competition will be televised by GEO TV in
Pakistan and an Indian broadcast partner, a statement said.
Contestants will have the opportunity to win seed funding, incubation,
mentorship, and access to business resources if they successfully
convince a cross-border panel of seasoned investors to support their
enterprises, the statement said. "Startup Dosti will interconnect the
entrepreneurial communities across India and Pakistan, thus creating a
platform for exchange of ideas, mentoring, assistance in access to
markets, and perhaps funding," said Padmaja Ruparel, president, Indian
Angel Network. "Given the similarities in the market stages in India
and Pakistan, entrepreneurs from both countries can now look forward to
assisted access to a significantly sized market in their neighbourhood,"
she said. "The Dosti Partnership is a timely project seeking to build
upon steadily improving relations between India and Pakistan," the
Atlantic Council said. Total trade between the two countries has
increased from USD 750 million to more than USD 2.5 billion since 2005.
Experts believe a USD 50 billion trade market could exist, should
barriers and restrictions continue to fall, it said.
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