Business innovation: K-P startup set to make waves
National Incubation Centre is mentoring several new businesses in Peshawar
APRUS Technologies team - the creators of electrosurgical generator locally. PHOTO: EXPRESS
PESHAWAR:
There is no dearth of talent in Pakistan and young people from across the country have proven time and again that they can effectively utilise their skills and knowledge if provided with the right opportunities.
Speaking of giving a chance to young people to develop their businesses and innovative ideas, Peshawar’s National Incubation Centre (NIC) is playing an important role.
Muhammad Mohsin Rafiq and Nauman Rafiq – two brothers who studied engineering at the University of Peshawar – are among the talented lot who have developed energy and cost-effective electrosurgical generator, one which is also much safer than its counterparts available in the market.
An electrosurgical generator is a piece of medical equipment used to produce a variety of electrical waveforms during different surgeries. The machine is not only expensive but it is not even locally manufactured which makes it difficult to repair in case of a breakdown.
The prototype of the electrosurgical generator developed by the two youngsters boasts less blood loss, more precision and a digital screen for easy monitoring by surgeons.
Although their business idea was unique and innovative from the outset, it needed further polishing and mentoring. That’s when they applied to be incubated at the NIC, a decision which immensely helped the youngsters to make their business ready for the international market.
Mohsin and Nauman did not plan to develop the machine but the idea occurred to them coincidentally. Their father worked at an electro-medical workshop at the Lady Reading Hospital in Peshawar. He often found it challenging to repair imported machines because it was very difficult to find spare parts in the city.
“Once, our father brought a machine home and asked us to repair it as we were studying engineering. After three days, we repaired that machine which marked our first success,” Mohsin Rafiq added. “This sparked our interest in electro-medical equipment.”
Talking to The Express Tribune, Mohsin Rafiq said that after attaining their engineering degree from the university, the brothers decided to come up with their startup. Initially, they named the company ‘Mohsin Electro Medical’ and produced some 20 machines. In 2017, they came up with another model of the same machine and produced 50 more which was bought by hospitals across the country.
Being selected by the NIC turned out to be a game-changer for the brothers, as their business underwent a massive transformation.
“After being incubated at the National Incubation Centre (NIC) Peshawar, our coach suggested us to develop the name and brand of our company. That’s when we changed the name to APRUS Technologies.”
Hira Irshad, the chief executive officer (CEO) of APRUS said that after its transformation through the mentoring sessions at the NIC, the company has already established contacts with international investors. She added that APRUS will be able to export the machines to other countries in the near future.
Bilal Farooq, the marketing and communication manager at the NIC, said that the incubation centre was inaugurated in January 2018, by the then prime minister Shahid Khaqan Abbasi.
He shared that for the first batch of the NIC, more than 300 individuals and businesses applied for incubation out of which only 13 business ideas were selected in March 2018.
“Once polished and developed after being incubated at the NIC, the selected businesses of the first batch provided jobs to 210 people, out of which 22 were females.
The valuation of the companies was Rs815 million but they received a funding of Rs68.1 million.
Currently, however, the companies have successfully generated revenue worth Rs134 million,” he said. He further informed the second batch of incubated businesses at the NIC provided 190 people with jobs, out of which 41 positions were given to female candidates. The valuation of the companies stood at Rs315 million while they received Rs22 million in funding and generated a revenue of Rs21 million.
Likewise, in the third batch, the selected startups successfully generated jobs for 78 people, including 10 females. The valuation of the companies stood at Rs235 million, while they received Rs2 million in funds and generated a revenue of Rs24 million.
Published in The Express Tribune, October 3rd, 2019.
There is no dearth of talent in Pakistan and young people from across the country have proven time and again that they can effectively utilise their skills and knowledge if provided with the right opportunities.
Speaking of giving a chance to young people to develop their businesses and innovative ideas, Peshawar’s National Incubation Centre (NIC) is playing an important role.
Muhammad Mohsin Rafiq and Nauman Rafiq – two brothers who studied engineering at the University of Peshawar – are among the talented lot who have developed energy and cost-effective electrosurgical generator, one which is also much safer than its counterparts available in the market.
An electrosurgical generator is a piece of medical equipment used to produce a variety of electrical waveforms during different surgeries. The machine is not only expensive but it is not even locally manufactured which makes it difficult to repair in case of a breakdown.
The prototype of the electrosurgical generator developed by the two youngsters boasts less blood loss, more precision and a digital screen for easy monitoring by surgeons.
Although their business idea was unique and innovative from the outset, it needed further polishing and mentoring. That’s when they applied to be incubated at the NIC, a decision which immensely helped the youngsters to make their business ready for the international market.
Mohsin and Nauman did not plan to develop the machine but the idea occurred to them coincidentally. Their father worked at an electro-medical workshop at the Lady Reading Hospital in Peshawar. He often found it challenging to repair imported machines because it was very difficult to find spare parts in the city.
“Once, our father brought a machine home and asked us to repair it as we were studying engineering. After three days, we repaired that machine which marked our first success,” Mohsin Rafiq added. “This sparked our interest in electro-medical equipment.”
Talking to The Express Tribune, Mohsin Rafiq said that after attaining their engineering degree from the university, the brothers decided to come up with their startup. Initially, they named the company ‘Mohsin Electro Medical’ and produced some 20 machines. In 2017, they came up with another model of the same machine and produced 50 more which was bought by hospitals across the country.
Being selected by the NIC turned out to be a game-changer for the brothers, as their business underwent a massive transformation.
“After being incubated at the National Incubation Centre (NIC) Peshawar, our coach suggested us to develop the name and brand of our company. That’s when we changed the name to APRUS Technologies.”
Hira Irshad, the chief executive officer (CEO) of APRUS said that after its transformation through the mentoring sessions at the NIC, the company has already established contacts with international investors. She added that APRUS will be able to export the machines to other countries in the near future.
Bilal Farooq, the marketing and communication manager at the NIC, said that the incubation centre was inaugurated in January 2018, by the then prime minister Shahid Khaqan Abbasi.
He shared that for the first batch of the NIC, more than 300 individuals and businesses applied for incubation out of which only 13 business ideas were selected in March 2018.
“Once polished and developed after being incubated at the NIC, the selected businesses of the first batch provided jobs to 210 people, out of which 22 were females.
The valuation of the companies was Rs815 million but they received a funding of Rs68.1 million.
Currently, however, the companies have successfully generated revenue worth Rs134 million,” he said. He further informed the second batch of incubated businesses at the NIC provided 190 people with jobs, out of which 41 positions were given to female candidates. The valuation of the companies stood at Rs315 million while they received Rs22 million in funding and generated a revenue of Rs21 million.
Likewise, in the third batch, the selected startups successfully generated jobs for 78 people, including 10 females. The valuation of the companies stood at Rs235 million, while they received Rs2 million in funds and generated a revenue of Rs24 million.
Published in The Express Tribune, October 3rd, 2019.