Wednesday, July 3, 2019

Pakistani EdTech and FinTech Startups Win Prizes in International Competitions

Two Pakistani technology startups have recently won recognition in international competitions.  Sabaq, an EdTech startup, has been shortlisted for Siemens Foundation’s global award. Another Pakistani startup Tez Financial Services in FinTech space has been selected as one of the winners of $100,000 Prize at 2019’s Inclusive Fintech 50.  Growing availability of smartphones, tablets and mobile broadband is enabling Pakistani technology entrepreneurs to offer technology-based solutions in multiple fields including education and financial services. These young ambitious entrepreneurs are beginning to attract venture investments from overseas. Tez Financial Services has received $1.1 million seed funding led by Omidyar Network.


Karachi-based Pakistani education technology (EdTech) startup SABAQ has been shortlisted for Siemens Foundation’s global award. The award recognizes and endorses low-cost technologies providing vital services and solutions for daily needs in developing countries. Earlier this year, Sabaq was selected among the Top 6 Global EdTech startups at the Global Education and Skills Forum in Dubai.

Sabaq Tablet
Sabaq is among 11finalists selected from a 800 submissions from 86 countries.  It will be compete with other finalists for the top 3 spots in Cairo, Egypt next month. The award recognizes low-cost technologies providing vital services and solutions for daily needs in developing regions. Projects submitted are judged on their technical functionality, local adaptability, social impact, team structure, and financial and business sustainability.

SABAQ has partnered with the National Rural Support Program and identified communities where it has set up SABAQ Centers, non-formal learning spaces for out of school students who are taught using the meraSABAQ Tab. This is SABAQ’s custom-made android tablet that features the meraSABAQ app for primary level, each containing digital learning resources for Urdu, Science and Math, developed in-house in accordance with the national curriculum.

Sabaq Foundation is a non-profit organization that offers a tablet app and a website. The meraSabaq is a custom-made tablet designed to be used both by  experienced and new teachers across formal and non-formal learning environments.  Sabaq's website offers online video tutorials with free video lectures for Pakistani students. The website provides tutorials for four main science subjects -- Mathematics, Physics, Chemistry and Biology for secondary school students. The tutorials follow the exact syllabus of respective boards of education for Cambridge, Federal, Punjab, Sindh, Khyber Pakhtunkhwa (KPK) and Balochistan.

Tez Financial:

Tez Financial Services is a woman-led financial technology startup in Karachi, Pakistan.  It has Visa Everywhere Initiative Women’s Global Award after Worldwide Search. It is the first fully digital financial institution in the country providing financial services to the unbanked/underbanked population via a smartphone app.

Tez FinTech App
Last year, Tez Financial raised $1.1 million in a seed round led by Omidyar Network, the impact investment firm established by Pierre Omidyar, the founder of eBay. Other investors on this round include Accion Venture Lab, the seed-stage investment initiative of global nonprofit Accion; and Planet N. Funds will help the company build its credit portfolio, enhance its mobile technology platform, and secure the company’s NBMFC (Non-Bank Microfinance Company) license.

The Visa Everywhere FinTech competition measures how competing companies leverage their companies’ unique ability to solve or transform consumer and/or commercial payment experiences locally, regionally or globally.

The founders of Tez were previously involved in the creation of Tameer Bank, Easypaisa, and CheckIn Solutions.

Pakistan Telecom Indicators. Source: PTA

Technology Entrepreneurs:

Growing availability of smartphones, tablets and mobile broadband is enabling Pakistani technology entrepreneurs to offer technology-based solutions in multiple fields including education and financial services. As of May 2019, there are over 70 million broadband subscriptions in Pakistan and more than a million new subscribers are are being added every month, according to data from Pakistan Telecommunication Authority  (PTA). These young ambitious entrepreneurs are beginning to attract venture investments from overseas. Tez Financial Services has received $1.1 million seed funding led by Omidyar Network headed by E-Bay founder Pierre Omidyar.


Two Pakistani technology startups have recently won recognition in international competitions.  Sabaq, an EdTech startup, has been shortlisted for Siemens Foundation’s global award. Another Pakistani startup Tez Financial Services in FinTech space has been selected as one of the winners of 2019’s Inclusive Fintech 50. Growing availability of smartphones, tablets and mobile broadband is enabling Pakistani technology entrepreneurs to offer technology-based solutions in multiple fields including education and financial services. These young ambitious entrepreneurs are beginning to attract venture investments from overseas. Tez Financial Services has received $1.1 million seed funding led by Omidyar Network.

Related Links:

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Silicon Valley NEDians Digitizing Pakistan School Lessons

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Riaz Haq said...

The share of cash payments worldwide is falling rapidly, from 89% in 2013 to 77% today

High internet use and state support help countries ditch cash
Even within the rich world, the most digitised societies use cash least often

On july 27th, outside Brooklyn’s hipper-than-thou Smorgasburg street-food market, a dozen hungry visitors stand idle amid the barbecue fumes. Rather than queuing for food, they are waiting at a cash machine. Yet inside the market, vendors are trying to wean their customers off cash. Gourmets who use Apple Pay, a mobile-payment service, receive hefty discounts on their purchases. “Apple pays us the difference,” one trader explains.

Most transactions around the world are still conducted in cash. However, its share is falling rapidly, from 89% in 2013 to 77% today. Despite the attention paid to mobile banking in emerging markets, it is rich countries, with high financial inclusion and small informal economies, that have led the trend. Within the rich world, more-digitised societies tend to make fewer cash payments. In Nordic countries like Norway and Denmark, where 97% of people use the internet, around four out of five transactions were already cashless by 2016, according to a recent review chaired by Huw van Steenis of the Bank of England. In contrast, internet penetration in Italy is just 61%, and 85% of transactions there were still handled in cash in 2016.

Riaz Haq said...

Pakistan: educational app eyes 1m users

An educational app designed to reach refugee and underprivileged children in Pakistan is expected to reach nearly 1 million children across the country by the end of 2020.

Called Taleemabad, the app is available on mobile and computer and offers access to parts of the primary school curriculum (for example English, Urdu and Maths) through a dedicated cartoon series.

The name of the app, meaning ‘Education City’ in Urdu, is a reference to where the co-founders developed the idea for the edtech start-up Orenda, which developed the app: Georgetown University in Qatar, based in the Education City in Doha.

Orenda co-founder Haroon Yasin, who was also recognised as one of the Queen’s Young Leaders in 2018, told The PIE that the app is at present reaching a total of 106,000 users across the country, also in rural parts of Pakistan.

“The biggest achievements of the app are its reach and the fact that it represents a wider vision of sustainability,” he explained.

Over the next couple of years, he added, Orenda is planning to complete the K-5 curriculum offering, which will propel user numbers closer to the 1m mark.

“Students here take the first state examination after the 5th grade and once we have completed a spectrum of content that can teach students towards that exam, we expect our downloads to have neared the 1 million mark, with 20,000 users paying for the premium features,” he added.

The team is also close to signing a partnership with the government of the Khyber Pakhtunkhwa province, whose support will enable Taleemabad to expand its reach – and its curriculum in the Pashto language.

“There is currently no Pashto language learning platform and developing this will enable us to target the province, especially the areas that have suffered due to terrorism,” Yasin said.

“It will also allow us to target users in neighbouring Afghanistan, which has similarly lagged behind in educational outcomes because of conflict.”

In the long term, Orenda aims to expand the curriculum up to year 12 and reach six million children, Yasin said, perfecting content for varying ability level.

The edtech company is also aiming to widen its geographical reach beyond Pakistan, looking at Afghanistan, India, Bangladesh and Sri Lanka.

Riaz Haq said...

SABAQ, LUMS Sign MoU To Improve Pakistan’s Education Ecosystem

Award-winning EdTech enterprise SABAQ, and Lahore University of Management Sciences (LUMS) have signed a memorandum of understanding (MoU) to collaborate for research and outreach purposes in order to contribute towards building a robust education ecosystem in Pakistan. The MoU was signed by Hassan Bin Rizwan, CEO & Co-founder of SABAQ, and Dr Mariam Chughtai, Associate Dean and Assistant Professor at the LUMS School of Education.

This agreement between SABAQ and LUMS School of Education (SOE) will provide a unique opportunity for the involved parties to research and study the strengths, challenges and best practices of SABAQ’s partner schools, in an effort to bring research-backed and evidence-based improvements in the education sector in Pakistan.

Speaking on the occasion, Hassan commented, “This partnership will prove as a major stepping stone in our collective efforts to create an environment of high-quality education. We expect the research to yield insightful information to further help us create a better learning atmosphere for students, improve their learning gains and create a more robust education scenario.”

Founded in 2015, SABAQ is an education technology initiative that has reached 100,000 children in low-cost and low resource environments till date. Its flagship application, Muse, has helped increase access to education technology in over 1,000 low-cost public and private schools in Pakistan.

Riaz Haq said...

#Pakistani team shortlisted for finals of #MIT Challenge. Teach the World Foundation uses #digital games on Android tablets to facilitate self-learning for primary school children. #edtech #DigitalPakistan

A non-profit organization ‘Teach the World Foundation’ (TTWF) got selected for the finals of top American university Massachusetts Institute of Technology (MIT)’s Solve Challenge. Their project, titled Enhancing Literacy and Numeracy (ELAN), focuses on improving education outcomes in developing countries.

The Teach the World Foundation team, led by US-based Pakistanis Shafiq Khan, (CEO & Co-Founder) and Imran Sayeed (Co-Founder), is working in multiple countries including Pakistan, Bangladesh, and Malawi. TTWF works to establish effective and scalable models of literacy and learning by leveraging innovate digital technologies.

MIT Solve is a platform where tech entrepreneurs from all around the world present their ideas to solve pressing global issues. MIT Solve has partnered with the TigerIT Foundation in Bangladesh to create a challenge that “aims to find and support start-ups that will provide quality education, healthcare and employment opportunities” in Bangladesh.

Out of 628 applicants, Teach the World Foundation is one of 15 finalists chosen to present their solutions in Dhaka on the 10th – 11th of December 2019. They stand a chance to win a share of $1.5 million in funding to expand their program in Bangladesh and beyond.

In Bangladesh, TTWF is currently working in the Rohingya Refugee Camps and Dhaka urban slums. They are trying to address the issue of 2.6 million primary grade out of school children in the country alongside problems of quality as most primary-grade students exhibit poor learning outcomes.

The solution provided by TTWF to fight illiteracy is simple and inexpensive and can be implemented anywhere in the world. They use digital games on Android tablets to facilitate self-learning for primary school children. The program is currently operating in Pakistan, Bangladesh, and Malawi with positive results.

Teach the World Foundation has done notable work in Pakistan to provide education for all. The vision of the foundation is to help eliminate the educational crisis in the country. TTWF expects that Pakistan’s literacy rate will increase significantly with the use of technology.

Riaz Haq said...

Teleschool goes on air today to compensate for academic loss

Prime Minister Imran Khan on Monday inaugurated a national broadcast education channel to mitigate the loss faced by the students due to the closure of educational institutions till May 31 in the wake of coronavirus pandemic.

Teleschool — the dedicated TV channel — will be aired through a beam provided by Pakistan Television (PTV) from Tuesday (today) across the country from 8am to 6pm for online education from class one to 12.

Speaking at its launching ceremony, the prime minister said that teleschool would help students learn during the closure of schools. This initiative would also help the government reach the remote areas, which didn’t have access to education facilities and infrastructure, Mr Khan said.

He said as Pakistan had a large number of out-of-school children (OOSC), this initiative could promote primary education and focus on the OOSC.

He said no one could predict when Covid-19 would be eliminated, as it could take two, three or six months. He said this project was highly productive in the given circumstances.

The PM was of the opinion that this project should continue even after the pandemic was over and reopening of schools. He said it would help promote education in remote areas while the concept could also be used for telemedicine.

He said that adult literacy could also be promoted through this project. He appreciated all those officials who played their role to launch this project.

Minister for Federal Education and Professional Training Shafqat Mahmood at the launch told the premier that education ministry was also mulling to develop an app to benefit over 20 million out-of-school children and promote adult literacy.

About country’s literacy rate, the minister said: “We have just 60 per cent literacy rate”. He said the education ministry was trying to link education with technology so that adults who wanted to learn had access to education through mobile phones.

Special Assistant to Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan was also present at the launch of teleschool.

Officials of the education ministry told Dawn that the dedicated TV channel, teleschool, would be available on satellite, terrestrial and cable networks so that it would be accessible to most parts of the country, including hard-to-reach remote areas, ensuring equity in learning. An officer of the education ministry said that the ministry initially inked an agreement with PTV for three months, but if needed it could be extended as the PM also expressed his desire for the project’s continuation.

Joint Secretary (Education) Syed Umair Javed, who had supervised the content development process, told Dawn that online content was developed in accordance with country’s curriculum and it was made attractive for students.

“The credit of making this project possible in less than a month goes to unsung heroes: content developers, teachers and staff of Federal Directorate of Education, editors, techs and producers of Allama Iqbal Open University and PTV,” he said.

Riaz Haq said...

PTA, Pakistani mobile operators send more than 1 billion COVID-19 awareness SMS

To raise awareness regarding TeleSchool - Pakistan’s first education channel for students (a joint project of Pakistan Television and the Ministry of Education), 93.15 million SMS messages have been sent. To support operations of educational institutions, and call centers, around 120 IPs have been whitelisted since 19 March 2020. PTA has also allocated 14 different short codes and 6 UAN (Toll Free) numbers to Government entities working on controlling the pandemic.

PTA is also supporting donations by mobile users under ‘Prime Minister's COVID-19 Pandemic Relief Fund-2020'. To increase public awareness about this initiative, nearly 142.08 million SMS messages have been sent to subscribers urging them to donate to this cause. Mobile subscribers can donate PKR 20 per SMS by sending a text message to a special code.


Pakistan Telecommunication Authority (PTA) and mobile operators sent coronavirus awareness SMS to subscribers across Pakistan. According to the PTA, nearly 1.028 billion coronavirus awareness messages have been sent since 19 March in Urdu, English and regional languages to mobile users across Pakistan.
Awareness SMSs in Urdu and English have also been sent to persons who may have come into contact with coronavirus patients while travelling. More than 0.58 million cautionary messages have so far been sent to travelers and suspected persons since 19 March. Coronavirus awareness ring back tones have been activated on 79.4 percent (131.7 million) of total subscribers’ mobile devices, the PTA also said.

Riaz Haq said...

Telenor Accelerator launches #EdTech Innovation program in #Pakistan. It provides curriculum and skill-based #education for school, college and university students, as well as additional courses incl personal development modules, #digital skills & #STEM

Telenor Velocity, the digital startup accelerator by Telenor Pakistan, has introduced its EdTech Innovation programme, to forge alliances with EdTech startups/scaleups. This initiative is launched in response to the closure of educational institutions and offices due to the coronavirus outbreak, Telenor said.
The programme provides curriculum and skill-based education for school, college and university students, as well as additional courses including personal development modules, digital skills, and STEAM (Science, technology, engineering, arts and mathematics) with a special focus on Robotics.

The Telenor Velocity EdTech Cohort has stepped forward to help students shift to online access and added a number of partners for this purpose including K-5 SABAQ Muse, a learning service based on videos, games and ebooks in multiple languages for early grades. The Edaksa service supports STEAM education and helps Pakistani high school students prepare and pass their standardized government exams; while the EDTechWorx content creation and collaborative delivery platform connects learner, educators and the overall industry. The Skills First online academy aims to allow users to develop their skills; while LearnObots aims to develop makers and creators of tomorrow, with a practical learning approach in the domain of Educational Robotics.

Riaz Haq said...

#Digital #Education: The Foundation Of #DigitalPakistan. Digitization of education and moving on to technological education must be the foundation of digital #Pakistan that is compatible with a #technology-led world. #literacy #distancelearning #Covid_19

Pakistan’s oft lauded “strategic position” happens to see us situated in South Asia. Apart from the geopolitical advantage that some claim we inherit because of this location, there is precious little that the world’s most underdeveloped region has to offer. According to a well-researched study by Mahbub ul-Haq published in 1997, “South Asia is fast emerging as the poorest, most-illiterate, the most malnourished, the least gender-sensitive–indeed, the most deprived region in the world.” Over two decades later, much of that still rings true. If we were to just focus on one aspect of the aforementioned quote, as is the scope of this article, education alone hasn’t progressed at a rate one would expect it to. Currently, Pakistan has the world’s second-highest number of out-of-school children (OOSC), with an estimated 22.8 million children aged 5-16 not attending school.

That represents 44 percent of the total population in this age group. In the 5-9 age group, 5 million children are not enrolled in schools and after primary-school age, the number of OOSC doubles, with 11.4 million adolescents between the ages of 10-14 not receiving formal education. Disparities based on gender, socio-economic status, and geography are significant. In Sindh, 52 percent of the poorest children (58 percent girls) are out of school, and in Balochistan, 78 percent of girls are out of school, as reported by UNICEF.

Regional Benchmarks
With such a dismal background, it is extremely unsettling to note that these statistics only refer to basic education. The world has moved to digital and technological education and skill development, the likes of which the school children of our country have probably never even heard of. Furthermore, if we were to just look East, Bangladesh is one of the top four countries in terms of ‘improvement and remarkable growth’ in digital economy in the last four years, according to Huawei Global Connectivity Index (GCI) 2019. The GCI report was published by Huawei on digital development based on how ICT innovation and ICT applications can grow national economies, and a result of open research into the digital economy with top universities, think tanks, and industry associations.

Bangladesh has come a long way in literacy by efficiently responding to the Basic Literacy Project and by incorporating technology within the education sector. Bangladesh’s literacy rate has risen significantly in the past decade, estimated at 72.76%, according to the latest data from UNESCO Institute for Statistics (UIS). The rate is increasing as the present government is adopting multifaceted programs and it is one of the major reasons that UN Committee for Development Policy (CPD) has promoted Bangladesh to a ‘Developing Country’ status. To realize the plan for Digital Bangladesh, many institutions in the education sector have adopted information technology to engage the attention of students through visual representation of sounds, concepts and pictures alongside interactive activities.

With such an effective digital infrastructure already in place, Bangladesh was in a much better position to implement disaster management strategies to deal with COVID-19 outbreak with respect to education, a far cry from what has happened in Pakistan Online classes, remote and distant learning facilities were much easier to establish in Bangladesh. We, on the other hand, have just started to venture into the world that is digital education.

With the prime minister’s initiative of “Digital Pakistan” we seem to be on the right path, albeit a little too late. We must leverage all that we can from such a scheme for Pakistan to bridge the gap between where other nations stand and where we stand.

Riaz Haq said...

How #EdTech is reshaping the #education landscape in #Pakistan. Most of startups (9/10) have witnessed a 1.5X to 3X increase in users since the #COVID19 #lockdown. $2.65 million has been raised by 6 edtech startups in a total of 8 deals. via @MENAbytes

In a study by Invest2Innovate earlier this year, out of 13 edtech startups that participated, 54 [percent expressed that they were expecting to raise funding despite the pandemic, while 53 percent reported having a cash runway of 6-12 months. Additionally, 77 percent of the edtech startups that participated had also pivoted their business model in some way due to Covid-19 and 85 percent already had an alternative offering for the market according to a survey that was conducted back in March. The majority of the edtech startups surveyed (9/10) for this newsletter reported a 20 percent – 100 percent growth in users during the past 3 months. Similarly, most of these startups (9/10) witnessed a 1.5X to 3X increase in the amount of usage since the lockdown was implemented. See the figure above for details. A combination of these factors makes edtech an exciting and potentially lucrative sector for investors.

Well-funded edtech startups in Asia & comparison with Pakistan

Deal flow data collected previously by i2i shows that a total of $2.65 million has been raised by 6 edtech startups in a total of 8 deals. The highest amount of investment on this list is attributed to the Knowledge Platform which raised around $2 million in 2019. The findings also showed that with the exception of Dot&Line and Knowledge Platform, all investments were raised from either local or international angel investors. Many edtech startups have either won grants, awards, or have partnered with development funds, which are not accounted for in this data. Since the sample size is quite small (while it is still representative of the universe of edtech startups in Pakistan), it’s important to see if the findings hold up with larger sample size.

Analysis of deal flow data of some well-funded edtech startups in Asia shows that China comes out on top in terms of amounts of investments. Startups such as Zhangmen, Dada, KnowBox, VIPKid, iLearning Education Group, and Gaosi Education raised investment that ranged from $140 million to $350 million.

The only two non-Chinese edtech startups that came close to the size of investments raised by Chinese startups in 2019/2020 were Indian BYJU’s ($181 million) and Indonesian Ruangguru ($150 million) – with Byju’s raising twice from different investors in 2019 alone. BYJU’s makes an interesting case study for many startups in South Asia that are trying to raise investment and scale their companies.

While several factors have contributed to the success of the company, one factor that really stands out is their lessons that were created using various board-approved syllabi from different states in India. Roughly 90 percent of the content is evidently common across curricula, which helps it map the same content into varied curricula, making the solution highly scalable.

Similarly, other Asian countries such as Indonesia, Malaysia, Thailand, Singapore, Vietnam, etc. are also producing a significant number of edtech startups. Many of these have managed to raise substantial amounts in investment over the past few years, particularly in Indonesia.

The Middle East – while not too prolific when it comes to quantity of edtech startups – accounted for two companies that raised a significant amount last year. Noon Academy is one of these startups (based in Saudi Arabia), which raised an investment of $8.6 million in 2019, while another EdTech startup based in Dubai called Almentor raised $4.5 million the same year. See the figure below for details.

Riaz Haq said...

VM Interactive, a #UK-based #digital #technology company, invests $250,000 in seed funding in #Pakistan’s #HealthTech #startup #Covid_19 brings attention to #health sector | The Express Tribune /story/2254458/angel-investors-eye-pakistans-health-start-up

The pandemic has brought healthcare sector to the fore in countries across the world and Pakistan’s health sector is no different. The coronavirus has exposed strengths and weaknesses in the system, which has caught the attention of angel investors.

Since the lockdown was imposed, online businesses enhanced their mark and the country’s health system witnessed a similar trend as well where a few large scale pharmacies initiated home delivery services and doctors set up e-clinics.

The trend of digitisation caught attention of VM Interactive, a UK-based digital technology company, which recently invested $250,000 in seed funding in Pakistan’s health-tech ecosystem through a locally indigenous start-up,

VM interactive Chief Operating Officer Alex Kalavrezos said that having seen Pakistan’s tech industry grow by leaps and bounds, with the government focused on taking it to another level, the chance to invest in it during this time is an opportunity, which should not be missed.

“The recent pandemic has exposed vulnerabilities of healthcare systems around the globe, however, Pakistan is among the few countries that have performed relatively better,” Kalavrezos told The Express Tribune.

This shows that the country has the potential to rival some of the most developed health care systems around the world provided that a robust system is created for healthcare workers to flourish.

According to him, this was one reason why countless doctors and healthcare workers of Pakistani origin excel in western countries where healthcare systems are more developed.

“Having worked closely with the tech fraternity of Pakistan, I am familiar with the wealth of talent available here, so having first-hand knowledge and experience played a major role in convincing our investors,” Alex said.

The UK-based tech company is providing its support in terms of investments and training to the local start-up, which intends to revolutionise the concept of health-tech in Pakistan and counter the menace of fake medicines available widely in the market.

The management of the company plans to work with manufacturers to secure medicines and store them in its own warehouses rather than relying on third party suppliers.

“Medicines are temperature oriented and if a minimum temperature is not maintained, they expire,” said Chief Executive Officer Umaad Sheikh. “Small scale pharmacies do not consider this fact while operating business nor do they empower pharmacists to do so.

The start-up, which began operations in March 2020, received the seed investment last week.

Sheikh projected to receive next round of investment at the end of the year which would be utilised for expansion of company operations in Punjab and the rest of Pakistan.

Nevertheless, there are a handful of difficulties being faced and the company has sought help from the government in this regard.

“The government is working towards improving ease of doing business in Pakistan but to do that, a special zone for online investors should be materialised to cater to the needs of start-ups,” Sheikh said.

He stressed that tech-start-ups were the future and if government made efforts to uplift the ecosystem of this sector, all other sectors will improve alongside.

Currently, tech start-ups face issues in online payment facilities, banking sector paperwork and timely issuance of visas to foreign investors.

“The reason why most tech investors prefer India over Pakistan is the fact that our neighbouring country has a proper ecosystem in place and it facilitates them in all possible manners,” he said. “A little attention by the government in this regard will bring higher amount of tech investors to Pakistan.”

Riaz Haq said...

Beaconhouse introduced educational technology platform into 200 schools
This come as a result of Landmark agreement signed between Beaconhouse and Knowledge platform.

Beaconhouse has introduce education technology platform for 200 schools and over 100,000 students in their school system both in Pakistan and seven other countries. This come as a result of Landmark agreement signed between Beaconhouse and Knowledge platform.

This education technology agreement includes the provision of a customised learning management system, integration with the Google suite of content applications, a community platform to enable teachers to develop educational content, a library of educational content, and an innovation and development partnership to enable the development of world-class digital educational content and new educational products.

Mahboob Mahmood, the founder of Knowledge Platform, noted: “We are thrilled and honoured to serve Beaconhouse through this landmark transaction. In terms of numbers of learners, this may represent the world’s largest education technology deal contracted to date in the private K-12 education sector.”

Mahmood added: “Beaconhouse has 45 years of experience in the provision of quality education of an international standard in Pakistan and overseas, and have achieved an effective scale in operations. Knowledge Platform has been providing e-learning solutions for 20 years across Asia. Our collaboration is already unlocking tremendous education energy into a new blended learning paradigm where teachers and learners work together to enable hybrid learning that is increasingly enjoyable and impactful. Together, we fully expect to transform the learning experience for Beaconhouse teachers and learners and beyond in contributing to the enhancement of education in Pakistan.”

Nassir Kasuri, Executive Director of the Beaconhouse School System, added: “This is the third stage of our 14-month relationship with Knowledge Platform. In September 2019, we invested in the company. In December 2019, Knowledge Platform launched a specialised version of its national curriculum content and platform for our Educators’ partner network. With the outbreak of the coronavirus pandemic, the platform was extended to Beaconhouse schools offering the national curriculum. Now, in partnership, we will be offering educational content and technology across our entire school system, including at the CAIE O and A level programmes.”

He further observed: “Technology is enabling education in unprecedented ways. It is now possible to introduce students to collaboration and learning tools that were unthinkable just a few years ago. Moreover, the coronavirus pandemic has greatly accelerated the adoption of education technology across our school system. Working together, Beaconhouse and Knowledge Platform expect to innovate continuously to provide our students and teachers state-of-the-art 24x7 learning and teaching opportunities.”

Riaz Haq said...

The startup boom in Pakistan

Record levels of funding are pouring into Pakistan-based startups, boosting hopes for a brighter economic outlook for the world’s fifth-most populous country.
Startups have received $85 million in venture capital (VC) funding so far this year, outpacing the $66 million raised in 2020, and venture firms continue to build their war chest.
“A surge in venture capital investment in 2021 augurs well for innovation in the country,” said HBL COO Sagheer Mufti while talking to The Express Tribune.
“In particular, the focus on fintech and partnerships with banks provide immense opportunity for driving consumer choice and ease, employment, financial inclusion and economic growth. HBL’s investment in Finja was in this spirit,” he added.
Fintech companies have received about a fourth of the total VC investment so far this year. They are finding plenty of overseas investors eager to tap the world’s third-largest unbanked population in what is being called a “fintech revolution”.
In Pakistan, 71% of adults do not have a bank account, one of the highest rates in the world.
Islamabad-based fintech SadaPay raised $7.2 million - reportedly the largest seed round ever in the country - for a personal debit card and e-wallet that still awaits regulatory approval.
Trading app KTrade - dubbed the “Robinhood of Pakistan” - raised $4.5 million after amassing 200,000 users since its launch in 2019.
US-based mega-firm Kleiner Perkins made its first investment in the country - a $17 million round for Tajir, a B2B marketplace based in Lahore that enables small business owners to buy from manufacturers and wholesalers.
Another B2B marketplace, Bazaar, raised $6.5 million in seed capital. Abhi raised $2.1 million for its early wage access platform and is headed to Y-Combinator (along with TAG).