Islamabad October 23 2021: MyTM, a startup of National Incubation Center (NIC) Islamabad (funded by Ignite National Technology Fund – Ministry of IT and Telecom) has won the Supernova pitching challenge in the creative economy category at GITEX Future Stars held in Dubai.
MyTM – Lahore based startup is the first Islamic Fintech in Pakistan which empowers retailers and consumers by providing them a one-stop solution to cater the financial needs of the banked, unbanked, and under-banked simultaneously.
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The Supernova Challenge in partnership with GITEX Future Stars is held every year to give global startups a chance to grandstand their ideas, grab the world’s attention and win a bulk of cash from the prize pool of USD100,000. While beating the UK competitor ‘Save my Wardrobe’, MyTM has become the first Pakistani startup to win the supernova Challenge Final held every year at GITEX since 2015. 700+ startups took part in the competition with 11 categories. Only 22 startups made it to the Final with MYTM being the only Pakistani Startup to win.
Another NIC startup, Instacare, a healthtech startup had participated in Supernova challenge also. Ignite provided travel and logistics support to five startups from different NICs this year including MyTM (fintech), Instacare (healthtech), GulTechnology (cleantech), Kalpay (fintech), and Edraak (automation). Syed Amin Ul Haque, Federal Minister of IT & Telecom, while congratulating the wining team said, “All my support is with startups of Pakistan and we are committed to promoting them to the world to brand Pakistan globally.” Asim Shahryar Husain, CEO Ignite, congratulated MyTM on the big achievement. 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.
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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.”
The efforts of Ignite and NIC Islamabad are appreciated who have nurtured the startup and helped it compete by providing access to mentors and incubation services as well as travel and logistics support for GITEX Future Stars.
