Archive for the ‘Business’ Category

PSEB kicks off Entrepreneur Search Program

Tuesday, June 14th, 2005

The Pakistan Software Export Board (PSEB) has launched a nation-wide entrepreneur search competition.

… the true potential of Pakistan’s skilled human resources, and the recent availability of capital for funding, is still not being utilized to its fullest potential. These untapped resources need to be channellized so that they contribute meaningfully in boosting the country’s economy. Pakistan Software Export Board (PSEB), acknowledging the lack of innovative solutions, and primarily with a view to fostering the entrepreneurial spirit in the country’s youth, is conducting a nationwide Entrepreneur Search Program relating to broad-based technology products and related services. This project will encourage young people to develop innovative new ideas, and promote indigenous product-based development in Pakistan.

The competition requires an initial 2 page concept business plan to be submitted before July 7th 2005. PSEB will select 25 top entries to be invited to a 5 day entrepreneurship workshop held at the Lahore University of Management Sciences (LUMS). The selected teams will be required to submit a complete business plan and give a presentation to judges at LUMS at the end of the competition. More information about the agenda here.

Some interesting points about the competition:

  • Age limit of 28 years as of June 30, 2005
  • Only teams of 3-5 people are allowed to enter, with at least one student from business or commerce and one from technology (I am not sure whether they need to be current students)
  • More emphasis on execution, rather than innovation: Plans need not be original, in order to qualify they must be successfully implemented in a competitive business environment
  • Not mentioned on the website: a quarter page ad in the paper mentioned that the top 3 business concepts will be awarded Rs 500,000, Rs 300,000 and Rs 200,000 initial seeding money

NetSol Technologies gets approval for trading on KSE

Thursday, June 9th, 2005

Market Wire reports Netsol is launching a $6 million IPO (which includes $1.6 million of private placement) with AKD Securities as the lead underwriter and 4 other banks participating. The listing is expected to finalize end of its 2005 fiscal year (when is this?).

NetSol recently launched its IT Village which can accomodate 600 employees, in a 5 story building. More here.

The parent company NetSol Technologies Inc. (NASDAQ: NTWK) has a market cap of 25 million. What’s the outlook for this company?

PASHA Job fair 2005

Sunday, May 29th, 2005

Pakistan Software Houses Association (PASHA) is holding their first job fair on June 2nd 2005 at the Marriot hotel in Karachi. The fair’s objectives are are:

  • To create a link between the IT and ITeS industry and the academic sector
  • To correct the perception that there are no jobs available in the IT sector. It is imperative that we convince young people that our sector is alive and well and growing at a rate of over 50% a year.
  • Providing companies a platform for recruitment
  • To provide an opportunity for companies to market themselves

The job fair also features several workshops designed to coach new job seekers on topics such as resume writing, interviewing tips and enhancing communication skills. PASHA was started in 1992 by 9 software development houses and since then has grown to have over 200 member companies. This looks like an excellent opportunity for job seekers and employers in the IT industry. Their website says that the last day to register was May 15, though their registration link still seems to work.