ISLAMABAD: The Indus Entrepreneurs (TiE) Islamabad Chapter and the US Embassy in Islamabad on Monday launched the 2013 ‘Pakistan StartUp Cup’, an intensive four-month business competition for aspiring entrepreneurs.

The ‘Pakistan StartUp Cup’ is a competitive process that brings to light new business ideas. In this programme, aspiring entrepreneurs learn to design viable business models, develop customers, and launch their startup business concepts into the marketplace.

Over a period of four months, selected participants receive coaching through “Build-a-Business” workshops and mentoring to help turn their ideas into a commercial reality.

First launched in 2007 in Oklahoma, 44 StartUp Cup Business Model Competitions currently take place in 37 countries. To date, more than 361 new businesses have competed in StartUp Cups worldwide and 92 and of first place winners remain in operation – an unprecedented success rate in this field.

“The Pakistan StartUp Cup helps Pakistan’s hardworking and innovative entrepreneurs transform their ideas into successful businesses,” said Ambassador Richard Hoagland, Deputy Chief of Mission of the US Embassy in Islamabad in remarks he delivered at the launch. “The United States supports Pakistan’s entrepreneurs because their innovative thinking can unlock great economic prosperity.”

“We are extremely proud to bring the StartUp Cup to Pakistan,” said Murtaza Zaidi, Executive Director of TiE Islamabad.