Daily Times

London Tech Week 2023, a global celebration of tech, uniting the most innovative thinkers and talent of tomorrow in a week-long festival, is being held at Queen Elizabeth II Centre in London.

It brings together industry leaders, innovators, entrepreneurs, investors, and policymakers from around the world to explore the latest advancements and trends in technology, said a news release on Wednesday. Continuing with its tradition of powering Pakistan’s startup ecosystem, Ignite National Technology Fund, a public sector company with the Ministry of IT & Telecom, participates in London Tech Week 2023, showcasing six exciting startups from its different National Incubation Centers (NICs).

NIC startups participating include Xylexa (NIC Islamabad), CricFlex (NIC Islamabad), EyeSmarty (NIC Peshawar), CalCart Technologies (NIC Islamabad), Gridizen (NIC Karachi), and SLOSH AI Solutions (NIC Islamabad). Pakistan’s High Commissioner in the UK, Moazzam Ahmad Khan, met Pakistani startups at the event and appreciated their work and passion to generate new leads for sales and investments in the future.

Xylexa (www.xylexa.ai) has Artificial Intelligence (AI)-powered algorithms that assist radiologists with accurate, timely and cost-effective medical image interpretation and diagnosis for their patients. CricFlex (www.cricflex.com) has a wearable sleeve for the performance analysis of bowlers in cricket. It tracks arm angles, force, speed, spin, action time, run-up speed, distance and time to provide feedback on improving performance. EyeSmarty (www.eyesmarty.com) is an AI-based platform to monitor and evaluate employee productivity and performance, offering an unmatched tool for in-depth work record analysis.

CalCart Technologies (www.cal-cart.com) is an AI-powered smart cart product bringing the best of online shopping to brick-and-mortar grocery stores. Calcart has recently signed a pilot test with a major global supermarket chain. Gridizen (www.gridizen.co.uk) is a SAAS-based end-to-end property management solution helping housing associations, property managers, agents and landlords manage their properties. It is also the only ESG report provider for properties in the UK. SLOSH AI Solutions (www.slosh.ai) is an AI-powered teleradiology solution to help in triaging chest x-rays between normal and abnormal.

Asim Shahryar Husain, CEO of Ignite said, “Over the last two years, Pakistani startups have raised investments of $733 million. Considering that Pakistani startups have raised more than $800 million over the last 5 years against average equity of 25%, the total valuation of Pakistani startups is estimated to be around $3.2 billion at present which is expected to reach $10 billion by 2030 or earlier.”

The upward trajectory of foreign investments in Pakistani startups during 2021 to 2022 is a testament to the interest of foreign investors in our startups. Two founders of Pakistani startups, Bioniks (healthtech) and Kalpay (fintech), made it to the Forbes 30 under 30 Asia list this year which reflects the young entrepreneurial talent of Pakistan. Events like Londontech Week provide an opportunity for startups to showcase their products to find partners, customers, and investors. London Tech Week is a hub for innovative innovation and visions of future tech frontiers. UK entrepreneurship, enterprise solutions, and inclusion are the mainstays. It covers various sectors within the technology industry, including artificial intelligence, cybersecurity, fintech, health tech, digital transformation, smart cities, and more. The event is very valuable for Ignite’s NIC startups and serves as a platform to connect, collaborate, and explore new business opportunities globally to find partners, customers, and investors.