KARACHI: Travoney, Pakistan’s first P2P crowdshipping application, will represent Pakistan’s startup culture in this year’s Startup Istanbul from October 20-23. Startup Istanbul is the leading startup event that brings together founders, investors and executives in the region. It’s a gathering of leading startups, internet companies, business angels and venture capitalists from Asia and Europe. Travoney claims to connect travellers and senders for fast, secure and hassle-free deliveries. The company proclaims to be the first sharing economy application to come out of Pakistan and termed as a disruptive technology, challenging logistics industry by giving a process flow which includes less emission and more sharing of the resources. It is said to take nearly half as much time as the courier companies to send urgent deliveries. Travoney is being covered by MIT Pakistan Economic Review and was recently highlighted on Business Plus TV’s talk show Livewire. Its protocols and measures ensure on-time deliveries through a network of trusted travellers. Thus, making it a go-to choice for millennial and smartphone users. The P2P model allows travellers to earn cash and cover costs by delivering parcels en route to their intended destinations. Travoney CEO & Co-Founder Operations and Strategy Saad Iqbal said, “At Startup Istanbul, we hope to find lifelong mentors, peers and exciting startup concepts that are disruptive and vision to achieve greater things in life. The team is inspired, motivated and ready to introduce a game-changing idea to the global audience at the event. In return, we look for exposure, recognition and networking opportunities. However, getting an investment is equally vital for its aspirations, hard work and dedication put over a year.” The company said that currently, there was no direct competition in the $300 million courier express and parcel (CEP) market with regards to a one of a kind P2P model. Travoney prides itself to introduce an economy-sharing model that is great for the environment and even better for the people. In Pakistan, a more significant number of people earn Rs 15,000 to Rs. 25,000 per month. If we consider Rs 20,000, an in-between salary account, urgent delivery through courier companies costs Rs. 1,009/kg from Karachi to Lahore. This extortionist rate is approximately 5% of the household income, which skyrockets up to 30% on bulk deliveries, the company said. Published in Daily Times, October 18th 2017.