Lahore-based startup of the National Incubation Center (NIC), MyTM has won the Supernova Pitch Competition, defeating UK’s ‘Save my Wardrobe’ in the creative economy category at GITEX Future Stars 2021 hosted in Dubai.
MyTM is the First Pakistani Startup to Win Supernova Pitch Competition
The startup has become the first Pakistani startup to win the supernova Challenge Final held every year at GITEX since 2015. The NIC startup, MyTM was funded by Ignite National Technology Fund, Ministry of IT and Telecom is the first Islamic Fintech in Pakistan that allows retailers and consumers by concurrently offering them a one-stop solution to cater to the economic demands of the banked, unbanked, and under-banked.
The Prize Pool of the Competition is USD 100,000
Furthermore, the Supernova Pitch Competition is hosted every year in partnership with GITEX Future Stars to provide global startups an opportunity to grandstand their ideas, grab the world’s attention and win a mass of cash from the prize pool of USD 100,000.
In addition to this, more than 700 startups took part in the Supernova Pitch Competition of 11 categories. Only 22 startups made it to the final with MyTM being the only Pakistani startup to succeed. Another Pakistani startup, Instacare, a health-tech enterprise had also competed in the Supernova challenge of the GITEX Future Stars.
Ignite granted travel and logistics support to five startups from different NICs this year including MyTM (fintech), Instacare (health-tech), GulTechnology (cleantech), Kalpay (fintech), and Edraak (automation).
In his comments on the win, Federal Minister of IT & Telecom, Syed Amin Ul Haque, congratulated the winning team and stated, “All my support is with startups of Pakistan and we are committed to promoting them to the world to brand Pakistan globally.”
2021 has Been a Remarkable Year for Pakistani Startups
Asim Shahryar Husain, CEO Ignite, saluted MyTM on the big success. He said, “2021 has been a remarkable year for Pakistani startups with a growth of more than 4 times in startup investments over last year. More than 20 Pakistani startups participated in Gitex Future Stars this year which reflects the entrepreneurial potential of Pakistan. We are proud of MyTM’s victory at GITEX’s pitching competition.” He said the efforts made by Ignite and NIC, Islamabad, were appreciable as they nurtured the startup and helped it compete by providing it access to mentors and incubation services alongside travel and logistics support.
Source: Pro Pakistani