HomeShopping’s parent company HS Ventures is starting an E-Commerce Incubator in Pakistan for e-commerce business who are targeting the local user base. In less then 6 years of its own startup initiation, HomeShopping was nominated by the World Retail Congress as one of the best Omni Channel Retailer in the World. Through information gathered from their Facebook entity and our communication with HomeShopping CEO Shayaan Tahir, the announcement went as follows:
“The green flag gave us a lot and its time to do something for it in return. With this we would like to announce that we are starting HS Ventures which would help start-ups get direct funding from us and perform e-commerce related business in Pakistan with our back-end support.” – Shayaan Tahir – CEO HomeShopping
The incubated teams are going to get hands on experience with Homeshopping website. The startups can initially work (if they want) on different domains/categories of the HomeShopping website in order to learn the required insight as far as hands-on experience is concerned. After gaining the market maturity they require, it can grow into a position where they can even spurn out their own products. The startups will also be provided incubation space and HS also has a fund present of 10 million PKR to invest in these incubated startups. The aforementioned investment fund is owned and operated solely by HS Ventures without any outside capital accumulation or project involvement, financier and otherwise.
HS Ventures, essentially, is becoming a parent fund to many of these e-commerce based initial, or even still infant start-ups. Applications for incubation will be open with the launch of official HS Ventures website and HomeShopping CEO Mr Shayaan Tahir shall be taking direct interest in the most promising pitches with the intention of possibly even investing in a few. The intention behind HS Ventures lies in utilising the untapped resources of talent within Pakistanis which they have continued to prove on a global level but we, as a nation, have failed to nurture to their potential.
While talking to TechJuice, Shayaan expressed his particular interest in social media based e-commerce startups with an intention along the line of working to integrate these into the HomeShopping list of offerings.
Beyond the above, in our conversation with Shayaan, we discovered that there are 3 or 4 more products HomeShopping is working on under HS Ventures and that they will disclose the much awaited details very soon as more of the story unfolds.