The Pakistan 25 entrepreneurs take the world stage

US Ambassador Munter Hosts the Record Breaking Pakistan Fast Growth 25 Winners

Islamabad, January 24, 2011 - U.S. Ambassador Cameron Munter hosted a reception at his residence for Minister of Finance Dr. Adbul Hafeez Shaikh, All World Network Co-founder Anne Habiby, and the winners of the Pakistan Fast Growth 25 Contest on January 24, 2011.

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.

Amabassador 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.

Pakistan 25 Winners

The Pakistan 25 is an interim list of companies that have applied for the Asia Fast Growth 500. The list is made up of 24 ranked companies that reach AllWorld's international standard for competitive fast growth companies, and 6 "companies to watch" that tend to be younger or smaller but otherwise have a strong growth trajectory that should qualify them in the near future.

Company Name	Country	List	Year	Rank	Growth Rate	Growth Period	Revenue Range	Industry
EXCEED	Pakistan	Pakistan 25	2010	1	1,351.00	2007-2009	5-10 million USD	Construction and Engineering
Naya Tel	Pakistan	Pakistan 25	2010	2	1,076.00	2007-2009	1-5 million USD	High-Tech and Telecommunications
Advanced Research Projects & Technologies	Pakistan	Pakistan 25	2010	3	699.00	2007-2009	1-5 million USD	High-Tech and Telecommunications
E2E Supply Chain Management	Pakistan	Pakistan 25	2010	4	648.00	2007-2009	5-10 million USD	Transportation and Aviation
TRADEKEY	Pakistan	Pakistan 25	2010	5	424.00	2007-2009	1-5 million USD	Professional, Scientific and Tech Services
Sofizar	Pakistan	Pakistan 25	2010	6	412.00	2007-2009	1-5 million USD	High-Tech and Telecommunications
S. K. Stones /Amish Marble	Pakistan	Pakistan 25	2010	7	302.00	2007-2009	1-5 million USD	Construction and Engineering
EXPRESSPAC	Pakistan	Pakistan 25	2010	8	271.00	2007-2009	1-5 million USD	Consumer Goods
i2c Inc	Pakistan	Pakistan 25	2010	9	246.00	2007-2009	1-5 million USD	High-Tech and Telecommunications
Meskay & Femtee Trading	Pakistan	Pakistan 25	2010	10	236.00	2007-2009	10-50 million USD	Agriculture and Mining
Abacus Consulting Technology	Pakistan	Pakistan 25	2010	11	192.00	2007-2009	10-50 million USD	Professional, Scientific and Tech Services
Folio3	Pakistan	Pakistan 25	2010	12	160.00	2007-2009	1-5 million USD	Professional, Scientific and Tech Services
Faysal Asset Management	Pakistan	Pakistan 25	2010	13	128.00	2007-2009	1-5 million USD	Finance and Insurance
Corvit Networks	Pakistan	Pakistan 25	2010	14	86.00	2007-2009	1-5 million USD	High-Tech and Telecommunications
City University of Science and Information technology	Pakistan	Pakistan 25	2010	15	83.00	2007-2009	1-5 million USD	Education and Training
iTextiles	Pakistan	Pakistan 25	2010	16	64.00	2007-2009	5-10 million USD	Textiles and Fashion
Multilynx	Pakistan	Pakistan 25	2010	17	63.00	2007-2009	10-50 million USD	High-Tech and Telecommunications
Independent Media Corporation	Pakistan	Pakistan 25	2010	18	56.00	2007-2009	10-50 million USD	Public Relations, Media and Publishing, Advertising
Cotton Web	Pakistan	Pakistan 25	2010	19	52.00	2007-2009	10-50 million USD	Textiles and Fashion
Egas	Pakistan	Pakistan 25	2010	20	47.00	2007-2009	1-5 million USD	Energy and Power, Water
Peshawar Model Degree College(Boys)	Pakistan	Pakistan 25	2010	21	45.00	2007-2009	1-5 million USD	Education and Training
SPEL - Synthetic Products Enterprises	Pakistan	Pakistan 25	2010	22	35.00	2007-2009	5-10 million USD	Automotive
Roshan Packages	Pakistan	Pakistan 25	2010	23	33.00	2007-2009	5-10 million USD	Agriculture and Mining
Khushhal Feed & Farms	Pakistan	Pakistan 25	2010	24	31.00	2007-2009	1-5 million USD	Agriculture and Mining
Rozee.pk	Pakistan	Pakistan 25	2010	25			1-5 million USD	High-Tech and Telecommunications
GCS	Pakistan	Pakistan 25	2010	25			1-5 million USD	High-Tech and Telecommunications
Almoiz Industries	Pakistan	Pakistan 25	2010	25			10-50 million USD	Agriculture and Mining
Riaz Textile Mills	Pakistan	Pakistan 25	2010	25			10-50 million USD	Textiles and Fashion
Interwood Mobel	Pakistan	Pakistan 25	2010	25			5-10 million USD	Construction and Engineering
Rawalpindi Flour & General Mills	Pakistan	Pakistan 25	2010	25			5-10 million USD	Agriculture and Mining

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". 
  

Additional Background

• 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
    
  • P@SHA - www.pasha.org.pk
    
  • 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.
  

AllWorld Network announces Pakistan Fast Growth 25 winners

The Pakistan Fast Growth 25 companies have grown an average of 81% a year for the past three years.  They paint Pakistan in a new light, suggesting that Pakistan is a strong country for entrepreneurship

The AllWorld Network announced in Pakistan and world-wide the winners of the Pakistan Fast Growth 25, a ranking of fast growth entrepreneurial companies.  The Pakistan Fast Growth 25 is a program of AllWorld Network in partnership with Harvard Business School Professor Michael Porter and was launched in collaboration with JS Bank Limited.  Joining the Pakistan 25 were Nominating Partners FPCCI, Rawalpindi Chamber of Commerce; Industry, TiE, P@sha and Knowledge Partner Mishal (Pvt.) Ltd. 


As a group, the Pakistan 25 broke AllWorld records for high growth of 8 countries in the Middle East, Africa and South Asia.  The companies who made the Pakistan 25 posted a 81% annual growth rate between 2007 and 2009 with an average size of 400 employees per company, and since inception they have created 12,000 jobs.  On average the entrepreneurs are 41 years old, with a number having founded other successful companies.  Leading the Pakistan 25 growth rankings are companies in High-Tech and Telecommunications, and Agriculture and Textiles.  Many of these rising Pakistan 25 companies are not just serving local markets, but are competing globally. 

“These results despite all odds project the force and sheer passion of these vibrant business leaders. At JS Bank, we have always supported entrepreneurs and have taken initiatives that create an environment friendlier for within the entrepreneurship space. We are pleased to see our partnership with Allworld bring to frontline such amazing success stories of these compelling entrepreneurs.” Kalim ur Rehman, President JS Bank.

Added Malik Ahmad Jalal, AllWorld’s Director of the Pakistan 25 “Pakistani entrepreneurs have flourished in spite of some of the most restricting economic and security environments in the world. These dynamic men and women are a great resource and the best bet for Pakistan’s future.  We are honored that US Ambassador Cameron Munter will host the Awards Celebration for the winners at his residence on 24 January 2011.  Also joining Ambassador Munter to recognize the winners will be Pakistan Minister Abdul Hafeez Shaikh and other VIPS.” 

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 24 companies older the 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.

The top three companies were founded by a tribal leader, three friends from university, and Pakistani-American from Silicon Valley. Leading the Pakistan 25 is #1 company Exceed (Pvt.) Ltd of Islamabad, with a revenue growth rate of 1,350% between 2007 and 2009.  Exceed was founded by Mr. Sardar Hayaat Muhammed Khan Mandokhel in 2004 when he was 24 years old.  Exceed is  primarily a construction company and is best known for the Saidpur Model Village which Exceed restored as an 18th Century city-museum.  The founder of Exceed, now 30-years old, is also the youngest entrepreneur on the Pakistan 25.

At #2 on the Pakistan 25 is NayaTel, established in 2004 and now with over 500 employees.  After many years in government service and industry, three university friends joined forces to found NayaTel.  NayaTel launched South Asia's first fiber to the home (FTTH)/fiber to the user (FTTU) network in Islamabad in 2006. This state of the art fiber wiring now serves 6,000 home and company users, and is key to providing the country’s capital city with a robust telecom infrastructure. 

At #3 on the Pakistan 25 is Arpatech, which like the top two winners was also established in 2004.  Arpatech was founded by Pakistani-American Jamal Khan who studied in the US and worked for five years with a leading Silicon Valley technology firm.  He established Arpatech which now employs a team of 70 in Pakistan and is one of the most successful software houses serving companies all over the world with services from application development to network security.

CLICK HERE TO SEE THE FULL LIST OF THE PAKISTAN 25.

As a group, the Pakistan 25 report their major constraint to growth is finding qualified manager and employees.  This is the number one constraint experienced by growth companies the world over.  The second major constraint to growth is Government Red Tape.

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.   “The Pakistan 25 companies, led by dynamic men and women, represent the leading edge of a new approach to Pakistan’s competitiveness” says Porter. As AllWorld Entrepreneurs, the Pakistan 25 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 is also launching the Pakistan 100, and companies are invited to apply at AllWorldLive.com at the Asia 500 section.  AllWorld aims to advance ALL the growth entrepreneurs of the emerging world, and building the largest entrepreneurship information system in the world.

Pakistan leads in Entrepreneurship indicators

The Pakistan Fast Growth 25 companies have grown an average of 81% a year for the past three years and created 12,000 jobs since inception. They represent Leading Indicators of Pakistan’s economic potential.

AllWorld Network and JS Bank created “The Pakistan Fast Growth 25” offering the first snapshot of how Pakistan's rising non-listed companies are generating growth. JS Bank is the host organization and sponsor for the Pakistan 25, partnering with AllWorld Network of the United States. 

Mr. Malik Ahmad Jalal, Director Pakistan Fast Growth 25 shared the Data on Pakistan 25, which was also represented by Sarmad Awan and Nabeela Darugar from JS Bank. Amir Jahangir, CEO Mishal Pakistan and Alberto Rodriguez the Press Attaché to the U.S. Embassy in Islamabad also attended the media event. 

Notwithstanding the challenging political and economic context, Pakistan is home to growing private companies creating a significant number of competitive jobs.   Leading the Pakistan 25 growth rankings are companies in High-Tech and Telecommunications, and Agriculture and Mining. Many of these rising Pakistan 25 companies are not just serving local markets, but are competing globally.

As a group, the Pakistan 25 broke AllWorld records for entrepreneurial intensity.  From the August announcement of the application process by JS Bank for the Pakistan 25, AllWorld received the most number of qualified applications in the shortest amount of time.  The top performers who made the Pakistan 25 posted a blistering 81% annual growth rate between 2007 and 2009 with an average size of 350 employees per company, and since inception they created 12,000 jobs. The Pakistan Fast Growth Companies have been successful in local markets but also globally competitive, as average 35% of their revenues are derived from international markets.

Contrary to what many might assume, the Pakistan 25 have grown by investing in their employees providing a significant amount of on-the-job training, giving financial bonuses for performance to incentivize employees, and offering other benefits such as flexible work schedules.  The combination of application numbers, growth rates and job generated exceed those of the eight AllWorld country rankings in the Middle East, Asia and Africa.   These results demonstrate that Pakistan has many of the conditions of a leading entrepreneurial economy.

The Pakistan 25 report their major constraint to growth is finding qualified manager and employees.  This is the number one growth constraint experienced universally by growth companies, and there is an opportunity for job training programs and HR recruiting firms to serve the specific needs of these companies.  Perhaps reflecting the unique context of Pakistan, the second major constraint to growth is Government Red Tape, which is not a top constraint reported by the entrepreneurs from other AllWorld programs.      

Companies competed for a spot on the Pakistan 25 based on strenuous international standards including completing a detailed survey of business strategy and operations and providing audited statements or an audit letter to verify revenues. The Pakistan 25 is divided into 24 Ranked Companies and 6 Companies to Watch. The 24 Ranked Companies are at least three years old and meet AllWorld’s international criteria of size, age and performance, and are ranked based on their sales growth between 2007 and 2009. There are 6 Companies-to-Watch – companies that show all the characteristics of a fast growth company but are too small or too young. These are companies we believe will become future contenders. 

The winner of the Pakistan 25 will be revealed in early 2011.  The winners have been notified of their status, but do not know their place on the ranking.  The Pakistan 25 will be expanded in 2011 into an annual Pakistan 100.

-        The AW Approach: Our approach for creating jobs is to identify and vet growth entrepreneurs in developing countries and put them on the global radar screen. This way capital, talent and business opportunities come to them and they can grow to large scale.

-           Why SMEs? Our experience and research has shown that governments of developing countries could not create additional jobs and large corporate sector is shrinking too and cannot offer the growth potential. Therefore, any employment creation will have to come from small and growing enterprises in the developing countries.

-         One Global Standard: Since the companies are selected by the same criteria used for ranking the Inc. 500, the world knows that a Pakistan Fast Growth 25 winner is a global standard entrepreneur who would qualify for Inc. 500, if the company was based in the United States. This results in attracting investors and customer interest. 

-        “The Pakistan Fast Growth 25 companies, led by dynamic men and women, represent a new future of the country”, Anne Habiby and Deirdre Coyle, Founder of AllWorld Network

-       “Beyond growth percentages and rankings, Pakistan Fast Growth 25 will showcase country’s top entrepreneurs and provide an alternate narrative of the country as talented and entrepreneurially infused nation. The evidence of budding entrepreneurship will send out the message that in spite of all the challenges, Pakistan is open for business.” Malik Ahmad Jalal, Director of Pakistan Fast Growth 25

-       “These numbers despite all odds project the force and sheer passion of vibrant business leaders by which their companies have grown under a short-span of three years. AllWorld Network has done a commendable job in recognizing their efforts. At JS Bank, we have always supported entrepreneurs and have taken initiatives that create an environment friendlier for within the entrepreneurship space. We are pleased to see our partnership with Allworld bring to frontline such amazing success stories of these compelling entrepreneurs.” Kalim ur Rehman, President JS Bank

-       “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.” Malik Ahmad Jalal, Director of Pakistan Fast Growth 25