PAKISTAN FAST GROWTH 100 BREAKS ENTREPRENEURIAL RECORD
COMPANIES ARE GROWING AT OVER 55PC A YEAR AND EMPLOYING OVER 41,000.
Mar 19 - 25, 2012
AllWorld Network announced the winners of the Pakistan Fast Growth 100 (Pakistan100), a ranking of the fastest growing non-listed companies in Pakistan.
The Pakistan100 is a program of All World Network in partnership with Harvard Business School Professor Michael Porter and presented by Cyan Limited. Growing at 55 per cent a year and collectively employing 41,000, the Pakistan100 were announced worldwide at the Pakistan100 Awards & Summit in Lahore.
The Pakistan100 Awards & Summit brought together business and government leaders and influencers, including Hussain Dawood, CEO of Dawood Hercules and Muhammad Ali, Chairman of SECP, U.S. chargé d'Affaires Ambassador Richard Hoagland, U.S. Consul General in Lahore Nina Maria Fite and Dr Abdul Hafeez Shaikh, Minister for Finance and Revenue, to name a few.
In the midst of challenging political and economic circumstances, the Pakistan100 broke many AllWorld records in relation to 15 other country rankings in the region, coming in only second to Turkey in terms of entrepreneurial growth and transparency.
Many of the companies have been founded in the last ten years, and have already grown to be industry leaders. An average of only 42 years old, most Pakistan100 entrepreneurs plan to establish another company in the next two years.
"The Pakistan100 are a testament to the zeal and passion of the Pakistani private sector. Their accomplishment is even more impressive given the challenges that they have had to endure in the recent years," stated Samad Dawood, CEO of Cyan Limited.
"Cyan's goal is simple: invest in businesses that have the potential to take center stage in the global economy while improving the lives of millions in the process. We believe the Pakistan100 are the companies to do just that."
The Pakistan100 was an unprecedented partnership between AllWorld Network, Cyan Limited, and partners Mishal, P@SHA, LadiesFund, CIOPakistan, TiE, Abacus Consulting and Rozee.PK.
Thousands of emails were sent to companies around the country inviting them to compete for a spot on the Pakistan100.
Companies had to be rapidly growing private non-listed companies, and they could come from any industry and any part of the country. Each company had to provide audited statements to confirm their revenues and each applicant's business practices and ethics were strenuously vetted. The fastest growing of these became the inaugural Pakistan100.
Leading the Pakistan100 is number 1 company e2e Supply Chain Management, which grew 1,918 percent between 2008 and 2010, with 2010 revenues above $50 million and 297 employees. Launched in 2005, e2e has risen to become one of the most successful end-to-end logistics companies covering Pakistan and Afghanistan.
Taking the second spot for Pakistan was Exceed Private Limited, with a growth rate of 1,320 percent and 90 employees. Founded by the youngest entrepreneur on the Pakistan100, Exceed rose to prominence for its historic restoration of Saidpur Model Village, redeveloped as an 18th Century city-museum with 5,000 residents.
Pakistan also had the most number of women entrepreneurs of any AllWorld list at 8 percent, and 7th ranked Luscious Cosmetics of Pakistan topped the list of the fastest growing women entrepreneurs with growth of 392 percent and 82 employees. The Pakistan100 entrepreneurs have built globally competitive businesses with one quarter of their revenues coming from international markets and companies such as ROZEE.PK (#12) having secured VC investment from Silicon Valley.
Commenting on the success of Pakistan100 at the Awards Ceremony, AllWorld co-founders Deirdre Coyle and Anne Habiby urged the Pakistan100 to go further "When no one expected much, the Pakistan100 broke records for growth, transparency, and competitiveness. They are the personification of what every country dreams of having. Now raise the bar higher and build Pakistan as a leading entrepreneurial nation."
Pakistan100 Founding Director Malik Ahmad Jalal said "As the Pakistan100, you send a signal to everyone in Pakistan and around the world that Pakistan is open for business. There is no more important message to secure peace and prosperity."
The Pakistan winners were in Lahore for the two-day Pakistan100 Awards & Summit from March 9-10.