Lahore : “Agriculture, as a sector, hold the key to prosperity, food security, and the socioeconomic
upliftment of our rural communities…Continuous innovation and development within
the agricultural sector, therefore, are vital for the economic development and
sustainability of Pakistan” said Zafar Masud, President & CEO of The Bank of Punjab,
while speaking at the BoP-sponsored ZarZaraat start-up competition at Pakistan
Agricultural Coalition’s Agri-Connections 2024 conference and expo held in Lahore on
April 24 and 25, 2024.
RemoteWell, an IoT device that offers wireless switching, scheduling, and controlling of
watering systems of farms, Godaam Technologies, which aims to reinvent warehousing
by digitalizing site availability and booking, giving end to end visibility of goods and
Digitt+ an Agri-fintech that aims to enhance financial inclusion and sustainable
agriculture by leveraging innovative technology, seeking to optimize transaction
efficiency, empower smallholder farmers with timely financial support, and encourage
innovative partnerships, came out as the Top Ideas of the ZarZaraat start-up competition
at Agri-Connections 2024.
“We at Pakistan Agricultural Coalition believe that the future of Pakistan’s agriculture
relies on the transition of our farmers beginning to think of themselves as businessmen”
said Raashid Anwer, Convenor of Pakistan Agricultural Coalition, while explaining the
ZarZaraat segment.
“The idea behind this fascinating project is to create a pipeline for the investors in
agriculture space.” said Mr. Zafar Masud
Ms. Maria Saleem of Fatima Group explained that 35 applications were received from
various agri companies and shortlisted to seven which were then judged by a jury under
the chairmanship of Mr. Yawar Ali of Nestle Pakistan. Other jurors included Mr. Sarfraz
Hussain of Bank of Punjab, Ms. Naz Khan of IFC, Ms. Maria Saleem of Fatima Group,
Mr. Muneer Kamal of Pakistan Banks’ Association, Mr. Kazim Saeed of Pakistan
Agricultural Coalition, and Mr. Hasan Khurram Hanif, a progressive farmer.
The three companies shortlisted by the jury, Digitt+, Godaam Technologies, and
RemoteWell, were invited to pitch in front of a group of investors representing various
entities including Mr. Asif Riaz from The Bank of Punjab, Mr. Navid Goraya of
Karandaaz, Mr. Habib Saqib of Fatima Gobi Ventures, Mr. Kashif Thanvi of Acumen
Fund, Mr. Shahbaz Malik of Hilton Pharma, and Mr. Khurram Jamali of Din Ventures.
Each finalist got a chance to explain their product/service in front of this panel to raise
investment for their venture and also received cash prizes sponsored by The Bank of
Punjab.
Mr. Zafar Masud elaborated that Bank of Punjab is also evaluating to support the
shortlisted companies through concessional financing under the Punjab Rozgar and the
PM’s Youth Business & Agricultural Loans schemes.
He also stressed on the importance of giving the ZarZaraat platform to Agric companies
to come and pitch their ideas and raise investments while giving examples of successful
startups around the world which are transforming the global agriculture sector, such as,
Kiva, Hello Tractor in Africa, and Bigbasket in India, and others.
Navid Goraya, Chief Investment Officer of Karandaaz, an investment platform of the Bill
& Melinda Gates Foundation, announced that each finalist will get one day of
counselling and advice from Karandaaz experts to improve their business models
and financability.
