LUMS Center for Entrepreneurship (LCE) was officially inaugurated earlier this evening. The ceremony was preceded by a business idea pitching session where ten different teams presented their project proposals. The panel of judges included Jehan Ara, Badar Khushnood, Salim Rehman, Dr. Zartash, Maria B., Zafar Khan and a few others.
Khurram Zafar, Executive Director of LCE, said while addressing the audience, “LUMS has had a very rich entrepreneurial history”, he backed this quote giving the examples of some of LUMS’s founding members, faculty and alumni and their entrepreneurial successes. Abdul Aziz, Founder & CEO of LumenSoft Technologies and a LUMS graduate (class of 2001) added that incubation has already been going on in LUMS in one form or another and that he was happy to see it is now taking a formal shape.
The event was attended by founding members of SDSB LUMS and some of the country’s most successful business persons namely, Syed Babar Ali and Abdul Razzaq Dawood.
“There are two qualities that an entrepreneur DOESN’T necessarily need to have; a charismatic personality and being a debater/public speaker – but it sure helps.”,
said Razzaq Dawood as he shared some of his pearls of wisdom on entrepreneurship.
The process of evaluating teams for incubation consisted of three stages. The first was ‘Personal Assessment’, followed by ‘Business Model Pitch’ and thirdly ‘Founders Assessment’. Appography, Bugdev Studios, Cognitica (Toys vs. Games) and Savaree. were shortlisted today after a rigorous test of their personality and business plan.
The event ended with the ribbon cutting ceremony by the founding members of LUMS Suleman Dawood School of Business, after which the very beautifully and artistically designed incubation space was open for all.
We will bring you more details of incubation space and the teams shortlisted very soon.
(Image: LUMS Center for Entrepreneurship)