K-Electric (KE) announced the winners for the first 7/11+ Innovation Challenge in partnership with INNOVentures Global at a day-long event held at Habib University in Karachi.
KE’s 7/11+ Innovation Challenge is the first of its kind event in Pakistan’s utility market, designed for entrepreneurs, startups, researchers, and university students to promote and accelerate strategic innovation.
Participants spent the first half of the day making final pitches to the esteemed Jury followed by a panel discussion and award announcement in the second half. Chairman NEPRA, Tauseef H. Farooqi was also in attendance as the Chief Guest.
The challenge is aligned with the United Nations Sustainable Development Goals (UNSDGs), particularly Goal 7 – access to affordable, reliable, sustainable and modern energy for all and Goal 11 – sustainable, inclusive, safe and resilient cities and communities.
K-Electric aims to highlight the importance of innovative problem solving and critical thinking within the public and provide a platform to convene organizations and individuals across Pakistan working at the critical intersection of sustainability and innovation.
Participants from various scholastic backgrounds took part in this Innovation Challenge in teams, beginning in February of 2022 going through stages of pitches, capacity building sessions and focused mentoring.
The journey began with over 300 applications hailing from several startups, universities and relevant fields of study out of which 10 teams made it to the finals.
Speaking to the audience, Tauseef H Farooqi, the Chairman of National Electric Power Regulatory Authority (NEPRA) shared that “As a regulator, we have a tremendous responsibility towards society that extends beyond the creation of affordable, accessible and reliable energy supply. We must also support the community, through constant innovation and development.
Under our Power with Prosperity, Power with Safety, Power with Equality, Power with Security and Power with Unity plans we have uplifted and transformed the socio-economic landscape of Pakistan aligned with the UNSDG’s to impact over 32 million lives, creating over 46,000 jobs including 8,400 jobs of women alone with over 32 Billion Rupees of financing. All this was aimed to promoting work-place safety, diversity and inclusion and security.
Innovation is imperative for positive change and we must continue to strive for a better and brighter future.” Mr Farooqi also endorsed how K-Electric, the only vertically integrated power distribution company in Pakistan, was stimulating grass-root level impact through their best practices and serving as a role model within the power sector.
“K-Electric is one of Pakistan’s most innovative utility companies making substantial improvements since privatization through investments and automation of its infrastructure.
Deeply embedded in the very fabric of this great city, KE continues to positively contribute towards Karachi’s sustainable and innovative growth.” Stated KE, Chief Executive Officer, Syed Moonis Abdullah Alvi.
“Through KE’s 7/11+ Innovation Challenge we aim to create operational excellence, enhance customer experience, and optimize our supply chain and logistics to energise the city’s future in a sustainable and customer-centric way.”