Wednesday, January 26, 2011
US Ambassador Munter Hosts the Record Breaking Pakistan Fast Growth 25 Winners
The Pakistan 25 entrepreneurs, who broke records for eight countries in the Middle East, South Asia and Africa for year-over-year growth, stepped onto the world stage at an event hosted by US Ambassador Cameron Munter. To recognize the achievements of the entrepreneurs, the Ambassador was joined by Pakistan’s Minister of Finance, Revenue, Economic Affairs and Statistics Dr. Adbul Hafeez Shaikh and AllWorld Co-Founder Anne Habiby.
The Pakistan Fast Growth 25, a ranking of fast growth entrepreneurial companies, is a program of AllWorld Network in partnership with Harvard Business School Professor Michael Porter and was launched in collaboration with JS Bank Limited. Also joining Ambassador Munter was JS Bank’s Director of Communications, Knowledge Partner Mishal (Pvt.) Ltd. and Pakistan 25 Nominating Partners from SME Committee of FPCCI, Rawalpindi Chamber of Commerce & Industry, TiE-Lahore, and P@sha.
Ambassador Munter stated, “Tonight we have come together to celebrate the 25 fastest growing companies in Pakistan. They represent companies in areas as diverse as telecommunications, agriculture, and textiles. They represent high growth rates and the creation of 12,000 jobs. But most importantly, they represent innovation and entrepreneurship – and a bright future for this great nation.”
Finance Minister, Dr Abdul Hafeez Shaikh, commented on the occasion, “the power of the Pakistan 25 is to surface new horizons for growth, to quicken the pace of economic development, and to be a catalyst for transparency and progress. The AllWorld Pakistan 25 Entrepreneurs set a new benchmark for entrepreneurship and progress in Pakistan as well as in other developing countries.”
As a group, the Pakistan 25 broke AllWorld records for eight countries, posting a 81% annual growth rate between 2007 and 2009 with an average size of 400 employees per company.
“The dynamic Pakistan 25 entrepreneurs are the country’s economic heroes and tonight they step on to the world stage as Pakistan’s Ambassadors of progress and prosperity,” says Anne Habiby, co-founder of AllWorld Network. “Building on the stunning success of the Pakistan 25, we are inviting all growth entrepreneurs to apply to the Pakistan 100 to gain the worldwide visibility they need and deserve.”
Peter Tichansky, President of Business Council for International Understanding, an AllWorld Global Partner who helped initiative the Pakistan 25 said “Pakistanis needs jobs. These entrepreneurs and others like them may be Pakistan’s best hope in creating them. As AllWorld winners, they become role models for aspiring entrepreneurs throughout the country.”
In August all private companies from any part of the country was invited to apply. Close to 100 companies competed for a spot on the Pakistan 25. Only the fastest growing private companies make the list, and each company is credentialed by AllWorld based on strenuous international standards. Applicants much complete a detailed survey of business strategy and operations and provide audited statements or an audit letter to verify revenues. While only a ranking of 25 companies, 30 companies were credentialed as AllWorld Entrepreneurs. Twenty-four companies older than three years old made the ranking and an additional 6 younger companies are Companies to Watch. Of the 30 companies that made the Pakistan 25, Lahore had the most number with 12 winners and Karachi came in a close second with 10 winners.
As AllWorld Entrepreneurs, the Pakistan 25|100 will have the opportunity to network with other AllWorld winners from the Middle East, Asia and Africa and the top winners of the Pakistan 25|100 are invited to the AllWorld Summit at Harvard University in November 2011.
AllWorld was co-founded by Deirdre Coyle, Anne Habiby and Porter. Professor Porter was described by the Times of London as the world’s “most influential management guru” and is widely regarded at the foremost authority on company and country competitiveness. AllWorld aims to advance ALL the growth entrepreneurs of the emerging world, and building the largest entrepreneurship information system in the world.
Companies are invited to apply for the Pakistan 100 at AllWorldLive.com at the Asia 500 section. For more information on the Pakistan 25|100 visit www.allworldlive.com
Why Pakistan 25?
• The Pakistan 25 companies are led by dynamic men and women who represent a new future of the country. They send a message around the world that Pakistan is a strong country for entrepreneurship.
• The Pakistan 25 will put Pakistan’s growth entrepreneurs on the global radar screen.
• The Pakistan 25 will highlight the role of the private sector in generating new ideas, new jobs and new industries. The Pakistan Fast Growth 25 will help identify entrepreneurship path for others to follow.
• The solution to Pakistan’s economic challenges lies not in foreign lands, but in the entrepreneurial talent of its own citizens. Pakistani entrepreneurs have flourished in spite of some of the most restricting economic and security environments in the world. The Pakistan Fast Growth 25 is recognition of the spirit of these dynamic men and women who are a great resource and the best bet for Pakistan’s future.
The New Economic Ambassadors
• Several Pakistan 25 winners and our sponsor JS Bank briefed the US Chamber of Commerce and the State Department on growth entrepreneurship in Pakistan. One US Government official declared - "this was the most dynamic group of Pakistan's representatives we have ever met".
• ALLWORLD NETWORK PARTNERS IN PAKISTAN
- JS Bank Limited www.jsbl.com
- FPCCI Standing Committee on SME www.fpcci.com.pk
- Rawalpindi Chamber of Commerce & Industry www.rcci.org.pk
- TiE-Lahore - www.tie.org
- Mishal (Pvt.) Ltd. www.mishal.com.pk
• PAKISTAN 100 QUALIFYING CRITERIA
- Be an independent, private, for-profit, corporation or partnership, or proprietorship.
- Must NOT be a non-profit, holding company, franchise, bank or utility company. Private companies established by government or where government is a majority stakeholder, are also NOT eligible.
- Have 10 or more full-time employees in 2009.
- Have a minimum 3-year operating history, and revenue (USD) of at least $100,000 in 2007 and $500,000 in 2009. Younger companies can compete to be a “Company to Watch.”
- Provide audited statements or an audit letter to confirm your company's revenues.