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Dr. ASK 500K Grant Challenge
Winners Announced!!

  • A grant, not a loan
  • Set up and sustain an early-stage start-up
  • Seed money
  • Build capacity in research, innovation, and essential elements of commercialization
  • Gain experience and insights from entrepreneurial community across the country

A Business/Product that must be

Innovative

Innovative

  • Products leading to the next level in the evolution
  • Innovative gadgets

Tech Based

Tech Based

  • Technology based innovative products
  • Breakthrough technological innovation

Research Based

Research Based

  • Product developed as an outcome of a practical research based concept
  • Products based on theoretical foundation in innovation and commercialization

3 Steps to Win the 500K Grant Challenge!!

STEP 1

Apply Online

Begin your journey from an innovative idea to the award of 500K Grant.

2021 Registration Closed

Instructions

1- You must have a gmail account to fill the application
2- Only team leads should apply
3- Registration Fee: Rs. 1,000/- (Non-Refundable)

In case of any queries, please drop an email at sskbic@iobm.edu.pk

Instructions

STEP 2

Compete to qualify

30 shortlisted applicants will pitch their ideas at the 500K Grant Challenge Semi-Finals, in front of judges panel. A five-minute presentation will convince them that you are among the 10 finalists.

STEP 3

Win the grant

Finalists will be invited to pitch at the 500K Grant Challenge Finals and compete for the grants out of which 5 will be selected for the grant.

Dr. ASK 500K Grant Challenge Important Dates 

  • May 10: Ten finalists announced
  • May 22: Final presentation to judges
  • June 5: Five winners of the 500,000 Grant Challenge announced

Eligibility Criteria

Applicants must be:

  • A team and not individuals
  • Enrolled in an HEC recognised university
  • Students of final year or graduating this spring semester

OR

  • Graduates of an HEC recognised university in the past one year

FAQs

I am a student with foreign citizenship. Can I apply?

Yes, you can apply if you are residing in Pakistan and are registered with the HEC recognized university.

How many applicants can be in a team?

Three and above (maximum five).

What would be the procedure of distribution of funds?

The funds will be disbursed in installments. The schedule of disbursement will be aligned to the milestones achieved and will be developed at the start of the project.

Can I submit multiple proposals for the same grant opportunity?

No. ONLY one proposal can be submitted by one team.

If I already have funding from another party, am I still eligible?

If you are receiving ASK Grant after winning the challenge, it is mandatory that you attend our Incubation Center for the duration of the grant. That said, each situation will be assessed, on a case by case basis, and an applicant may be declared ineligible depending upon the individual’s circumstances.

Is it possible to edit the application after submission, if the deadline is not over?

We discourage any re-submissions. However, we may consider it under special circumstances. In that case, please send your requests at sskbic@iobm.edu.pk.

Can I include team members from universities other than the universities of Sindh/Karachi?

Yes, if they are from the universities recognized by the Higher Education Commission.

Once incubated, will there be any schedule for working in the IoBM’s Incubation Center?

Project timeline and schedule will be shared after the final selection and at the start of the project.

How would IoBM accommodate the students residing out of Karachi, after the COVID-19 lockdown is over?

We will adapt accordingly as per the new norms. The sessions can be held remotely or we’ll explore other means to ensure smooth execution.

Why are you charging an application fee?

We want to ensure that only serious applicants, ready to take the challenge of the rigorous journey of innovation with IoBM, commit to the grant. A token of Rs. 1000 demonstrates this commitment.

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