UNIVERSITY OF MANAGEMENT AND TECHNOLOGY

News and Announcement

Grand Startup Success Registered at CENTIN-SBE

Wednesday, September 23, 2015

The startup, Auto Genie (autogenie.pk), is Pakistan’s 1st Virtual Auto Maintenance Portal. The people behind the successful endeavor, Hamza Abbas Bakhsh, Arsam Naveed, Ahsan Rafique and Uzair Ismail are BBA students at School of Business and Economics.

It all started off with a vague idea which later turned out to be a validated business model. AUTOGENIE got incubated first at CENTIN in December, 2014. The Center for Entrepreneurship and Innovation (CENTIN) at SBE proved to be the most appropriate platform for such students who then participated in LUMS Entrepreneurial Challenge and got inducted in second batch of LUMS Center for Entrepreneurship. In a fourth months business incubation program, the team submitted some notable achievements which were acknowledged by many blogs, forums, organizations and other mediums including ProPakistani,Tech Juice, Tribune, TechinAsia, LCE and more.

Currently, the company is being accelerated at PlanX, among the fortunate startups that got shortlisted. In the span of eight months, AutoGenie.pk has managed to develop a customer base of more than a thousand cars in Lahore alone. In the recent months, AutoGenie.pk received a number of offers, however, the team picked a deal with PakWheels.com, the largest car portal in Pakistan. The deal includes a partnership, non-compete agreement and a money component of worth PKR 1 Billion. It was concluded as a pre-seed investment, with a pre-money valuation of PKR 4 Billion and an expected growth of approx. 150% growth by the next year.

Recent Achievements:

- Listed in top 100 Hundred Startups in Pakistan, showcased at the Startup Expo held in Islamabad

- Listed in Top 100 Hundred Startups from 40 countries, will be exhibiting and pitching at Startup Istanbul conference in Istanbul on October 1 – October 5, 2015.

- Top 20 startups that are performing well after the incubation phase

- PITB sponsorship and office space at Arfa Software Technology Park (ASTP)

- 5 Media Mentions including the big three blogs in Pakistan (Tribune, TechJuice, TechinAsia, Pro Pakistani)

- Shortlisted for ITCN Expo, Karachi

- Raised investment from PakWheels.com

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