ISLAMABAD: (PR) Hashoo Foundation and Karakorum International University (KIU) have signed a Memorandum of Understanding (MoU) to jointly organize Hashoo Youth Entrepreneurship Competition at KIU, Gilgit. The competition aims to promote youth entrepreneurship and provide an opportunity to young entrepreneurs to present their ideas at provincial level, and to encourage, polish and provide mentorship to the innovative ideas of the youth
- The age limit for entry is 18 – 32 years.
- Candidates can enter the competition individually or form teams (2-5 people).
- Submissions must be the candidate/team’s own original work and ideas.
- Have a clear vision of what business you’re trying to create and have a good idea of the potential and initial investment as well as the issues of the intended business.
- The idea must not be already implemented or being implemented.
The top three competition winners—those who represent the best potential for growth and for attracting outside financing—will receive grand prize money.
First place receives PKR 300,000/- towards their venture. Second place receives PKR 200,000/- and Third place receives PKR 100,000/-
- Best Technology Prize (PKR 50,000)
- Best Social Impact & Sustainability Prize (PKR 50,000)
The plans must be successfully presented to a panel of judges. The prize money should not be considered as an initial investment or seed money.
HYEC Provincial Level Youth Entrepreneurship Competition Process:
- Marketing of the competition
HF team will visit the selected graduate educational institutions and other platforms at GB level and encourage youth for maximum participation. HF will display standees and distribute brochures among students and youth across GB.
- Application Screening:
HF in collaboration with KUBIC will screen applications received by Hashoo Foundation for the said Provincial Level HYEC competition. A rigorous criterion will be followed to vet the applications by our team of experts in the field of business and entrepreneurship.
The evaluation would be conducted based on the following criteria:
After screening of the entries, 10 ideas/candidates will be selected from each province and invited to work on their plans in a boot-camp for 5-7 days at Business Incubation Center, KIU, Gilgit-Baltistan.
- Pitching of Ideas and Award Ceremony
The participants will pitch their ideas before a panel of esteemed judges after the completion of 5-7 days boot-camp.
This is a competition in which both the innovativeness of the business idea and the quality of the full business plan are evaluated. The competition rewards creative thinking regarding new markets, products and services, as well as the team’s strategy to implement its plans. Awards will be distributed among the position holders on the final day.