Karachi: Google Cloud, in partnership with Tech Valley, hosted the grand finale of the Startup Competition Pakistan 2024 at IBA Karachi, featuring innovative pitches from startups across the nation, culminating in a major showcase of digital potential.

According to Google, the event, part of the I/O Extended Karachi, drew submissions from over 700 startups across more than 70 cities, demonstrating the breadth of Pakistan’s entrepreneurial spirit. Farhan Qureshi, Regional Director at Google, highlighted the competition’s role in fostering a digital-first future for Pakistan, emphasizing the strategic importance of nurturing startups for long-term economic growth.

The competition spotlighted breakthrough ideas in five categories: AI and Generative AI, Fintech, Sustainability and Environment, E-commerce and Connectivity, and Frontier Digital Technologies. Winners, who were awarded a cash prize of 1 million PKR each, will receive continued mentorship from senior Google experts and opportunities for venture capital engagement.

Umar Farooq, CEO of Tech Valley, noted the significant impact of the collaboration with Google Cloud and the Bank of Punjab in providing a platform for Pakistan’s brightest innovators. The judging panel featured prominent VCs like Indus Valley Capital and Sarmayacar, underscoring the high stakes of the event.

Support from the Bank of Punjab and contributions from major technology sponsors and partners such as Alethea AI, Tridorian, and OPEN Silicon Valley played a crucial role in the event’s success, with special initiatives like a Silicon Valley visit for finalists fostering global tech integration.

The event was not only a competition but also an extensive developmental program that included pre-event pitch training across major Pakistani cities, supported by local incubators and tech accelerators. This holistic approach aimed at enhancing the readiness of startups for both local and global markets.