Organization of Pakistani Entrepreneurs of North America (OPEN) organized an event titled “Pakistan: The Untold Story Of  Entrepreneurship And Technology” at Tang Center, MIT, Cambridge MA on February 2, 2008.  The event highlighted opportunities and hope in Pakistan.   

Last summer OPEN undertook an ambitious plan in conjunction with MIT’s Entrepreneurship Center to identify existing technology companies in Pakistan with best potential to grow into world class leaders in their space, and  then mentor, nurture and help finance their growth.  OPEN along with  the MIT Club of Pakistan Enterprise Forum (MITCEF) and was co-sponsored by P@SHA (PASHA: The Pakistan Software Houses Association) and the Pakistan Software Export Board (PESB) organized a contest for technology companies. The contest, which its organizers hope will become a yearly event, focuses on existing Pakistani technology companies (instead of start-ups) who are asked to prepare plans for how they intend for their business to “accelerate” towards future growth and expansion. This event showcased outcome of the endeavor.  The winner of the contest ‘Sofizar’ presented their business.

Ken Morse, Managing Director, MIT Entrepreneurship Center shared thoughts on the ‘Business Acceleration Plan’ and ‘Pakistan’s first Angel.

Bill Aulet, Entrepreneur in Residence and Sr. Lecturer, MIT Entrepreneurship center talked about the Entrepreneurship  potential in Pakistan’s Technology Sector. He compared Pakistan to Ireland when it was having economic problems.  ‘Although the ecosystem for entrepreneurship for entrepreneurship which consists of Academic Institutions, Entrepreneurs, Government and financing is not ripe, Entrepreneurs are exploring opportunities,’ he said.

Arthur I Anderson, OPEN Honorary Counsel and Of Counsel, Fish and Richardson P.C presented the right legal structure for International success. He described the structure in Pakistan by sharing his experiences of a visit to Pakistan.  He said, “Uncertainty and instability are the key reasons for lack of VC style investment in Pakistan.”


Imran Sayeed, Senior Vice President, Global Industry Solutions, Keane Inc.  introduced and invited Zahar Khan, the CEO of  Sofizar. “The potential and the culture Sofizar had made it the winner of Business Acceleration Plan Contest,” said Sayeed.

Sofizar, which works on ‘click fraud' and is ‘web analytics Solutions’    based internet marketing company developed a portal to sell secondary event tickets online.  The $10 billion market for secondary events which include concerts, sports events, etc. yields high commission on ticket sales. With development and operations based out of Lahore Mr. Khan is able to keep the costs low.  “Attracting right kind of people to Pakistan is the biggest problem,” said Khan.

The event brought together distinguished charter members, entrepreneurs, angel investors and corporate leaders for a truly great networking event.   The event was informative and provided entrepreneurial opportunities and challenges in Pakistan.  Of course delicious Pakistani food was served at the beginning of the event.

|