KARACHI   -  Google Cloud, in collaboration with Tech Valley, successfully concluded its inaugural Startup Competition Pakistan 2024 that saw 700 submissions from over 70+ cities. “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 served as a launchpad for innovation, attracting a surge of creative solutions across five key tracks: AI and GenAI, Fintech, Sustainability and Environment, E-commerce and Connectivity, and Frontier Digital Technologies. Startups refined their pitches and identified areas of improvements through mentoring sessions in major cities of Pakistan. “This competition has been a testament to the immense potential within Pakistan’s startup ecosystem. We are thrilled to have partnered with Google Cloud and Bank of Punjab to provide this platform for our nation’s brightest minds.” said Umar Farooq, CEO of Tech Valley.

The judging panel consisted of leading local and regional VCs including Indus Valley Capital, i2i Ventures, Sarmayacar, nVentures and SEED Ventures. Each winner from the five competition tracks received a cash prize of 1 million PKR and will be offered mentorship from senior Google experts to further refine their ideas. The competition also facilitated connections with leading VCs, opening doors to potential funding and mentorship. Additionally, all 25 Finalists were offered mentorship opportunities with industry experts including from Bank of Punjab and Orbit Startups.

The competition, strategically supported by Bank of Punjab (BOP), solidified their commitment to fostering Pakistan’s dynamic tech scene. “BOP takes immense pride in empowering entrepreneurs and founders by offering unparalleled opportunities like this one and its support for various such endeavours 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”, said Zafar Masud, President & CEO of Bank of Punjab.

The success of the Google Cloud Startup Competition Pakistan 2024 was fueled by the support of technology companies including Platinum Sponsors Alethea AI and Tridorian, Gold Sponsor Vanar, and Silver Sponsors Aspire, Bookme.pk, and OPEN Silicon Valley. Additionally, OPEN Silicon Valley, a Silver Sponsor, extended an invitation to all finalists for a visit to Silicon Valley, granting them the opportunity to immerse themselves in the world’s leading tech hub.

Leading up to the finals, a series of Master Your Pitch events was also organised across April and May 2024 in Islamabad, Lahore and Karachi, together with the support of key ecosystem players including Telenor Velocity, Katalyst Labs and COLABS. Promising startups got the chance to pitch their businesses to a panel of experts in front of a live audience and receive valuable feedback.

The Google Cloud Startup Competition follows the expansion of the Google for Startups Cloud Program to Pakistan whereby 10 incubators, including Ignite’s National Incubation Centres (NICs), are now Ecosystem Partners. Under this arrangement, their current and alumni bootstrapped startups can benefit from up to US$25,000 in credits, compared to US$2,000 previously.

An upcoming Google for Startups AI Academy for Asia Pacific was also announced, whereby Pakistani startups in the AI space will be eligible to be selected as part of the inaugural cohort that will cover responsible AI and provide access to Google’s ecosystem of experts and technologies. The chosen team will be a part of an APAC startup cohort with a 3 month program. The majority of the program will be online, with an on-site three-day bootcamp in Singapore, which plays host to a startup ecosystem hub with over 4,500 startups, 500 VCs and 220 accelerators and incubators.