Yasir Suleman Memon (MBA 2007), Co-Founder at Retailistan and Adeel Shaffi (MBA 2012), Co-Founder at PriceOye recently won two spots at Pakistan Startup Cup 2017-18 Finals.
Retailistan beat 17 other teams to take the top prize – PKR 1 million at the competition, the fourth edition of the American embassy-funded event while PriceOye, finished in second place with its shopping intelligence service that matches consumers with trusted sites, and won PKR 750,000.
The StartUp Cup is just one part of the United States’ robust programme to support economic development and spur economic growth in Pakistan.
Talking about his experience while competing Adeel Shaffi said, “StartUp Cup is unlike any other competition, it’s more of a 6 months’ mentorship programme. It gave us the opportunity to learn directly from experienced entrepreneurs through various mentorship sessions, which not only helped us improve our product but also open many doors”.
Giving full credit to LUMS, Shaffi commented, “Having done my bachelors in Computer Science, I needed to bridge the gap between technology and business. Here LUMS proved to be the best choice in equipping me with the best set of skills to run a tech-based start-up. I am thankful to my professors, classmates and the entire LUMS community for giving me the courage and confidence to pursue dreams”.
Prior to the competition, his team worked hard for three years and developed a product that competes with companies having deep pockets. Getting such recognition on an international level has motivated Shaffi and his team immensely and boosted their morale to work even harder in the future to reach a higher level of excellence. Currently PriceOye.pk has over 1.4 Million monthly visits on its platform, making it the largest platform in price comparison space.
Meanwhile, Yasir Suleman Memon proudly said, “This is a historic time for Retailistan to be recognised on our ideas and more importantly the executions and outcomes the team has delivered in last 2-3 years. We would want this to be a journey towards the start line where we start competing with the global technology companies and start creating an impact globally. Being based in Pakistan, I see this to directly help in the job-creation, appreciation for innovation and economic uplift through IT exports for Pakistan”.
All set for success, Memon sees Retailistan leading the Omni-Channel agenda globally. “We feel the e-commerce and brick and mortar stores will be part of the same infrastructure - Just two ends of the value chain. In this journey we would like to see Retailistan playing a key role in this transformation”, commented Memon.
Memon attributes his success primarily to LUMS saying, “LUMS is a truly world-class institution and has contributed immensely towards our success. I feel our professors, the LUMS management and all our colleagues have contributed towards this success and I congratulate them all.
Based on this win, the winners will now be representing Pakistan on the global stage, The world Startup Cup, to be held in Washington. LUMS wishes them the best of luck for future successes.