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PAKISTAN #2 ON THE ARABIA FAST GROWTH 500: Pakistan breaks records as a hub for entrepreneurs
Istanbul, Turkey, 2 December 2011…AllWorld Network today announced the Pakistan winners of the Arabia500+Turkey, a ranking of the fastest growing young companies in the Middle East and North Africa, Turkey and Pakistan. 70 fast growth companies from Pakistan qualified for the Arabia500, putting Pakistan in second position after Turkey with 117 winners.
AllWorld was co-founded by Harvard Business School Professor Michael E. Porter, Deirdre M. Coyle, Jr., and Anne S. Habibym with the aim to bring visibility to growing companies in emerging markets to increase their odds of success. Any private, non-listed, company with rapid sales growth and an ability to demonstrate results with audited financial statements was invited to compete for a spot on the inaugural Arabia500.
Each Pakistan entrepreneur on the ranking has grown an average of 40 percent annually between 2008 and 2010, created an average of 200 jobs per company, and is succeeding in industries from web technology to transportation, food to textiles, and construction to consulting. An average of only 42 years old, nearly all of them plan to establish another entrepreneurial venture in the next two years.
Dr Abdul Hafeez Shaikh, Pakistan’s Minister for Finance commented on the occasion, “The strong performance of Pakistani companies in Arabia500 illustrates that in spite of the challenges there continues to be strong business and investment opportunity in Pakistan. Pakistani companies in Arabia500 are surfacing new horizons for growth and quickening the pace of economic development and regional integration.”
The fastest growing company from Pakistan, E2E Supply Chain Management, grew at 1,918 percent between 2008 and 2010, with revenues above $50 million and 297 employees. Of the Arabia500 winners from 15 countries, E2E was the third fastest growing. Taking the second spot for Pakistan was Exceed Private Limited with a growth rate of 1,320 percent and 90 employees, and in sixth position overall on the Arabia500. Pakistan also had the most number of women entrepreneurs on the Arabia500, and Luscious Cosmetics of Pakistan toped the list of the fastest growing Arabia500 women entrepreneur with growth of 392 percent and 82 employees.
In January 2012, AllWorld will announce the winners of the Pakistan 100, with 70 having already qualified. Joining AllWorld to create the Pakistan 100 is an investment company Cyan Limited, recently established by the Dawood Group. "Given the importance of a stable Pakistan for world peace, we can't imagine a better use of our time than to engage with driven entrepreneurs who have a relentless belief and the ability to change the world for the better,” said Cyan CEO Samad Dawood.
Companies from around the country were invited to apply, and thousands of application emails went out from Pakistan 100 partners Mishal, P@SHA, LadiesFund, TiE and prior Pakistan25 winners including Exceed, Abacus, Rozee.pk, E2E, and Sofizar, City University and Corvit Networks. Commenting on the success of Pakistan, Pakistan 100 Founding Director Malik Ahmad Jalal added, “Pakistan is open for business. Pakistani entrepreneurs are defying widespread misperception about our country and building world-class enterprises that are globally competitive. Pakistan Fast Growth entrepreneurs show that the best bet for the country’s economic future is relying on the entrepreneurial spirits of its citizens”.
The Pakistan winners are in Istanbul for the 2nd Global Summit on Entrepreneurship, December 3-5. They will meet with winners from 14 other countries and will be recognized by the Turkish Prime Minister Erdogan and US Vice President Biden, and spend three days with AllWorld’s Capital Partners Arcapita, RED/Abraaj, Eastgate Group, NCB Capital, and Cyan Limited.
AllWorld is releasing a series of market insight reports on the Arabia500 to share their successes and make their stories visible. Last week, AllWorld released Now, calling for a bold new economic agenda centered around the Arabia 500. To apply for the Pakistan 100 and learn about prior winners, please visit www.allworldlive.com
Attachement: Pakistan|Arabia500 Ranking, Top Company Profiles, Arabia500 Report
# # #Contact: Deirdre M. Coyle, Jr
US: +617 504 4547
Tukey: +90 534 072 98 31 email@example.com
About AllWorld Network (www.allworldlive.com)
AllWorld was co-founded by Deirdre Coyle, Anne Habiby and Harvard Business School Professor Michael Porter. AllWorld systematically identifies private growth companies and ranks the fastest growing for the Arabia 500, Africa 500, Asia 500, Eurasia 500, and Latin America 500. Being on an AllWorld ranking puts companies on the world map, drawing the market to them - what we call Visibility EconomicsTM. Ranked companies “go public,” attracting new investors, customers, joint venture partners and talent to increase their odds of success.
About Cyan Limited (www.cyanlimited.com)
Cyan Limited (formerly known as Central Insurance Company Limited) is a public listed company focused on making equity investments in high potential companies. Cyan recognizes that entrepreneurs are the leaders behind innovation and employment creation. Cyan believes that by combining the spirit of entrepreneurship with The Dawood Group’s social, intellectual and financial resources, a platform can be created where long term relationships are established and growth opportunities are nurtured.
The Cyan platform will bring together high potential entrepreneurs, industry professionals and providers of capital. By facilitating interaction between stakeholders, Cyan aims to cultivate investment opportunities as opposed to simply evaluating them.
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