GEMS-2002 launched -Pakistan Press Foundation (PPF)

Paksitan Press Foundtion

GEMS-2002 launched

LAHORE: The Pakistan Software Export Board (PSEB) has launched its ‘GEMS-2002’ project with the inauguration of 20 incubators at the Software Technology Park on Friday.

The PSEB has selected 20 five-member teams of young IT entrepreneurs to select one software project to write in six months. Each team will select a project from 100 IT product business plans provided to the PSEB by the top companies in the world.

The six-month projects will start simultaneously on Sept 1.

Speaking at the launching ceremony at a local hotel, PSEB managing director Suhail Shahid said the project had been initiated to activate the local IT sector and channelize the potential of young IT entrepreneurs in the emerging software sphere of games, networking tools and system utilities.

Under the project, Mr Shahid said the board would create 20 new companies for the young entrepreneurs and provide them entire logistic support, infrastructure and professional guidance in financial and marketing sectors to operate their incubators as software houses. The PSEB would not charge anything from the young entrepreneurs but after the sale of their product, it would take 20 per cent of the income as its cost.

Mr Shahid urged the 100 young entrepreneurs, present on the occasion, to start thinking as a businessman and give a six-month total commitment. He said the projects would completely be transparent but there would be only 20 per cent chances to succeed and 80 per cent chances to lose. He said all the five-members would have 20 per cent share each in the company.

He urged the potential owners of the 20 new software houses to put in their consistent effort and complete their projects during the stipulated period.

Answering a question, he said, the PSEB would continue to guide the youngsters and assess the projects. If the PSEB would think that the project would be completed in time, he said, it would use its international marketing network to effectively market the product among the potential buyers the world over. He said the success of a project would be determined on achieving the sale of a prescribed amount.

He said the PSEB would appoint a competent professional as a project manager on five teams to supervize, assess and guide. The board would also groom the youngsters as a professional businessman to plan and execute projects.

Mr. Shahid said GEMS-2002 was a cent per cent export-oriented initiative to facilitate, develop and energize the software industry of the country. He hoped that the project would generate software exports by over $5 million within the next year. It would focus on tapping the domestically untouched sectors that had a great demand internationally.

“If five per cent of the 20 companies will be successful in their endeavour, the PSEB will set up 100 incubators each in Lahore and Karachi and 50 incubators each in Islamabad and Peshawar,” he said.
Source: The Dawn
Date:8/24/2002