Saturday, July 20, 2024

K-Electric Shaping the Future With 7/11+ Innovation Challenge

Focused on building a sustainable future, K-Electric conducted the finale of 7/11 Innovation Challenge which was designed for entrepreneurs, startups, researchers, and university students to promote and accelerate strategic innovation. This is one of the major initiatives taken by the utility to help resolve issues being faced by the society at large.

Over 300 teams from various scholastic backgrounds took part in this Innovation Challenge at the start of the year and then went through intervals of pitches, capacity-building sessions, and focused mentoring. Only 10 teams made it to the finals.

After a rigorous and competitive journey, the Energy Informatics Company of LUMS emerged as the winner for their Data Analytics based Prediction and Forecasting model, while ezBike’s Electric bike and charging infrastructure was awarded first runner up and NUST PNEC’s was the second runner up for their LoRaWan based meter retrofit technology capable of incorporating smart technology on conventional electricity meters. The winning team was rewarded with Rs. 1.5 million and the two runners-up were rewarded with Rs. 750,000 cash prize each.

These innovations bring into limelight technological advancements and eco-friendly solutions under the United Nations Sustainable Development Goals which is not only a move forward for KE (UNSDG) but also for the nation’s power sector.

Through this challenge, 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.

K-Electric’s 7/11+ Innovation Challenge succeeded in bringing together the best minds in the country by creating a platform where people help better their own society and come up with new and interesting ways to facilitate the common man for the overall goal of collective change! The real game changers were those who worked towards sustainable development, user-friendly solutions, longevity, and well-being as a whole.

The jury panel was made up of dynamic profiles in the current Pakistani innovation and ecological sphere such as Seher Abbas, Co-Chair, Karachi Hub Women in Energy & IFC, Sheikh Imranul Haq, Energy Expert, Shehryar Hydri, MP, Deosai Ventures, Shaista Ayesha, CEO of SEED Ventures and Naeem Zamindar, Founder of Neem Financials.

The chairman of Pakistan’s National Electric Power Regulatory Authority (NEPRA) also spoke at the event and emphasized that we have a “tremendous responsibility” towards society and must support the community through constant innovation and development. Under his leadership, NEPRA has transformed the socio-economic landscape of Pakistan to impact over 21 million lives and created over 41,000 jobs.

His speech was then followed by K-Electric’s Chief Executive Officer, Moonis Alvi, who stated that K-Electric’s 7/11+ Innovation Challenge aims to create operational excellence and enhance customer experience in Pakistan in the power sector.

A thought-provoking joint panel discussion between Afia Saleem, an environmental journalist and Wasif Rizvi, President of Habib University, took place about the growing need for innovation and sustainability in the power sector.

The need for this platform could not be more clearly outlined throughout the event, with the gathering of student researchers and industry experts all collectively making ideas come to life for a better future!

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