Entrepreneurship at LUMS!

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Entrepreneurship at LUMS!

When we think about entrepreneurship, the first thing that comes into our mind is the people from West who have revolutionized the way we look at technology and businesses these days. Yes, Steve Jobs and Mark Zuckerberg started their businesses as entrepreneurs, but downplaying the importance of young, enthusiastic students in today’s emerging economies to start up their own businesses will be a bit too unfair.

At LUMS, a number of events have taken place in the past year that has enabled people from all over Pakistan to get exposure to entrepreneurship in Pakistan and to groom their entrepreneurial skills. A line up of entrepreneurial-related events are on their way too.

YLES 2014: Youth Leaders’ and Entrepreneurs’ Summit (YLES) was hosted by LUMS Entrepreneurial Society (LES) in early January. Around 700 delegates with different academic backgrounds from different parts of Pakistan took part in this flag-ship event. The theme of the summit was “Creative Destruction”, and as the theme suggests, the event was built along lines that allowed participants to create break-through innovations in the fields of business and technology.

ENVISION 2013: An intra-LUMS Business Competition, ENVISION was hosted by LES to allow students at LUMS pitch their ideas through Business Model Canvas to an array of judges who belong to a diverse range of fields. The students were gone through rigorous training in the nine different components of Business Model Canvas. The winner of the competition was a team of students from the Class of 2016 who wanted to manufacture and sell bricks in Pakistan made from the waste of animals.

Code for Pakistan (Hackathon): Hackathon was held in the last week at the Smart Lab of LUMS. 85 participants from Lahore came together to create innovative open-source web and mobile applications so spark civic engagement. The teams developed mobile applications to provide solutions for various problems in Pakistan such as missing person portal, crime mapping in the city and keeping a track of waste disposal.

Start Up Weekend: The internationally renowned business event, Start Up Weekend, at LUMS will be held from 14th to 16th February 2014, where participants, belonging to science, business and technology fields, will pitch their business ideas to the investors, get training from high-qualified judges and mentors, and get opportunities for allowing their business ideas to be incubated.

The Hatchery: The incubator of MGHHSL, The Hatchery, is a platform for students and alumni of LUMS to participate in a 6-month-long, intensive training programs. These programs are designed to expose participants to the field of Social Entrepreneurship, which is the next big “hip” thing in the Entrepreneurship sector. The first batch of participants are currently learning how to incorporate the elements of sustainability, social innovation and scalability in their business ideas.

LUMS Centre for Entrepreneurship: LUMS is soon going to launch its Incubation Centre that will allow participants from university itself to come up with different business ideas, pitch them to a panel of judges and get seed funding for their ideas. The centre has a line of interesting projects to execute, so stay tuned!