LUMS inducts first batch of ‘The Foundation’ incubator


LAHORE: The Lahore University of Management Sciences (LUMS) Centre for Entrepreneurship (LCE) recently inaugurated by leading businessmen, including Syed Babar Ali and Abdul Razzak Dawood, has inducted its first batch of The Foundation business incubator.The management of the centre headed by Khurram Zafar, who is himself an entrepreneur, as well as an independent council of leading entrepreneurs of the country, scout for promising upstarts all over Pakistan and inducts the most promising ones into this four-month programme. The centre is also collaborating with investors to put together a seed stage investment fund for the upstarts as well as collaborate with business centre developers to offer subsidised office space to the graduates of the Foundation programme.As many as eight teams that have been inducted as the first batch of The Foundation includes Cognitica, which develops augmented reality-based mobile and marketing solutions; Beed, which is based on research done at LUMS and is working on making all broadcast content interactive with the aid of smart phones; Savaree, which is building a trust-based, ride share social network that allows drivers to monetise free passenger seats in their cars by posting routes and connecting with riders that share that route; Bugdev Studios, which is a team of very passionate mobile game developers and designers that builds and publishes creative, fun, action-packed games that make people think, feel and enjoy.Other upstarts include OneClout – Offers BizClout, a one-stop solution to e-commerce, enables SMEs to use a proprietary content management and e-commerce platform within 15 minutes and also offers value-added products to promote and market these online brands as well; PublicEye, a team working on building a social, location-based, awareness platform for active citizens that aims at bringing public demand to the forefront of development priorities of administrative departments and corporations; MARO, oven-baked bread (tandoori) Roti and Naan, is one of the most commonly consumed food items in Pakistan and the company aims at setting  up a network of ‘Tandoors’ that provide healthy bread and an immaculate consumer experience at the same price as traditional ‘Tandoors’; Appography, which aims at improving the customer experience by introducing a visual navigation IVR (Interactive Voice Response) in a clutter-free, simplified and more consumable manner on customer smart phones. 

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