A Third New Venture Contest (NVC) 2024 organized by the Industrial Partnership Projects (IPP) in collaboration with the Engineers for Community Welfare (ECW) of Pakistan, Al-Khawarizmi Institute of Computer Sciences (KICS) at the University of Engineering & Technology Lahore and Akhuwat Foundation Pakistan, reached its pinnacle on Friday with a grand finale and award ceremony held at the University of Engineering & Technology Lahore.
The NVC 2024 which commenced on November 5, 2023 concluded on Friday, fostering innovation and entrepreneurial spirit among the youth of Pakistan. This business ideas competition attracted a diverse pool of participants, including both graduate and undergraduate students, for the opportunity to transform their entrepreneurial dreams into reality and secure interest-free loans of up to $30,000 to kick-start their ventures. The competition comprised three intense rounds of evaluation and scrutiny. In the initial phase, participants submitted concise two-page summaries of their business concepts online. In the semi-final round, aspiring entrepreneurs presented comprehensive business plans, cap tables, legal entity establishment verification, and tax forms. Semi-finalists further showcased their ingenuity through video pitch presentations to a panel of esteemed judges. From this pool of talent, 10 outstanding teams emerged as finalists, advancing to the ultimate round of competition. Following the competition finals and award ceremony where the finalists teams presented their ideas to a panel of expert judges comprised of more than 30 industry leaders, the multiple-round competitions came to an end at UET, Lahore.
The award ceremony was held at the University of Engineering & Technology Lahore’s main campus.
