Pakistani accelerator PlanX starts looking for 10 new startups for its second batch

PlanX, which is an initiative of the Punjab Information Technology Board (PITB) and Pakistan’s first accelerator, has announced plans to kick off its second cohort of startups. The accelerator aims to promote the sustainability of mid-stage disruptive tech startups by counting upon a global network of mentors, investors, and industry specialists. Each cycle is spread over six months, and applications will be accepted on a rolling basis until all positions are filled.

The first batch of graduating startups from PlanX have done relatively well for themselves. Customer service startup Vivid raised seed investment of US$350,000, and relocated to London for further mentorship. Lifestyle and entertainment startup Bookme.pk entered into a strategic partnership with Microsoft, and new Lumia devices will have its mobile app pre-installed. Others, such as XGear, Travly, and Baby Planet have participated in international competitions and experienced significant increase in their customer base.

However, there is a rigorous application process for startups looking to benefit from PlanX acceleration. Initial inquiries can be sent via the PlanX website, followed by a three-step interview process if the applicants meet the induction criteria. Furthermore, the PlanX team actively solicits applications by visiting universities, other incubation centers, and networking events. “We screen about 8-10 startups per week, and have an open door policy,” says PlanX program manager Hafsa Shorish. “If anyone wants to meet with us, all they have to do is drop an email.”

Successful applicants will be invited to be part of the second batch with no initial up-front payment. Furthermore, they will be attached with a full-time business development associate, sales team, and mentors to help them scale.

“PlanX helps accelerate struggling startups by extensive value addition which assists them in eventually establishing themselves as successful companies,” says Nabeel A. Qadeer, joint director PITB in an emailed statement.