PlanX, PITB’s startup accelerator that focuses on helping mid-stage startup expand, celebrated its first birthday today.
In just one year, the startup accelerator has gone on to become a key player in the Pakistani startup ecosystem. To date, it has accelerated 15 startups which have raised a collective amount of USD 3.34 million. Its accelerated startups have a combined valuation of USD 60 million.
Apart from impressive numbers, PlanX also boasts a healthy diversity in its acceleration center. The cohort of accelerated startup includes social bearers that look at entrepreneurship as a means for the improvement of the society. For instance, the startup Pehhchan empowers skilled women by giving them recognition so that can play a positive role in the nation’s economy. While another prominent startup Patari is trying to rejuvenate the Pakistani music industry. PlanX also has high-tech startups like Vivid Technologies, which is helping brands in better customer services and xGear which is trying to improve the way people drive and maintain their cars.
PlanX, in the recent past, not only conducted trainings and sessions for its enrolled startups, but it also organized a Startup Expo in which over 100 startups from all over the country participated. The event received positive reviews from both the attendees and the visitors who were thousands in numbers.
If we compare PlanX with invest2innovate or LUMS Center for Entrepreneurship’s acceleration program, we will see that one of the distinguishing factors which give PlanX an edge over others is their Zero-Equity-Taken policy. Since, the initiative is government supported, it doesn’t take any equity and provides a full-fledged workplace for a period of 6 months.