The founders of BEC, Faizan Arafat and the late Abdul Basit, emerged as winners in an Entrepreneurial Competition called LyCorp, organised by a college in Karachi. Inspired by their success and driven by a shared vision, they decided to establish BEC with the aim of dreaming big and transforming those dreams into realities. Their entrepreneurial spirit led them to explore their own potential as entrepreneurs and embrace the challenges that came their way, taking calculated risks along the journey. With a passion for innovation and a determination to make a difference, Faizan Arafat and Abdul Basit laid the foundation of BEC, paving the way for their vision to flourish and impact the world of entrepreneurship.
The Journey
Over the years, BEC has experienced remarkable growth in terms of density, volatility, and participation. The organisation has expanded its offerings by adding new competitive modules to its portfolio. What started as a startup with three... rounds has now evolved into six modules, each comprising two rounds. Alongside module expansion, BEC has also witnessed substantial growth in its management team, expanding from three members in 2014 to 22 members in 2021. Similarly, participant numbers have soared from 20 in 2014 to over 100 in 2021, attracting students from across the city, including both O and A-level students. Venue-wise, BEC has progressed from three classrooms in 2014 to occupying an auditorium and the entire A-Level floor simultaneously in 2021. Notably, BEC has played a pivotal role in breaking stereotypes by engaging students from various academic backgrounds, leading to a significant 42% increase in science students' participation and a notable 51% increase in humanities students' participation since 2016.
Key Learnings
BEC has positively contributed to breaking the stereotypical notion of categorising entrepreneurship to a specific line of field, colloquially, for commerce groups in colleges.
42% increase in Science students’ participation from 2016.
51% increase in Humanities students’ participation from 2016.
The Impact
The core objective of BEC is to cultivate a mindset that creates employers rather than employees, nurturing individuals to become job creators rather than job seekers. By promoting entrepreneurship, the organisation aims to enrich the youth with the understanding of entrepreneurship as an art of experimentation and the importance of embracing risks. Through its initiatives, BEC strives to make a positive contribution to the economic growth and development of Pakistan. One of the significant impacts of BEC's work has been the realisation among students that entrepreneurship goes beyond the boundaries of formal education. By transforming mindsets from a focus on seeking employment to the drive for creating employment opportunities, BEC empowers individuals to become self-starters and contributors to the economy, fostering a culture of entrepreneurship that paves the way for personal and national prosperity.
Way Forward
BEC has established formal connections with Business Incubation Centres, facilitating collaboration and support for budding entrepreneurs. Additionally, BEC has also connected with the Kamyaab Jawaan scheme initiated by the Government of Pakistan. This partnership enables BEC to leverage the resources and opportunities provided by the scheme to further empower and assist young individuals in their entrepreneurial pursuits. Through these strategic alliances, BEC expands its reach and strengthens its ability to provide comprehensive support, mentorship, and resources to aspiring entrepreneurs, fostering an ecosystem that encourages and nurtures entrepreneurial talent in Pakistan.
Testimonial
“My passion for going towards entrepreneurship began when I took part in BEC 2.0; it helped me a lot, including but not limited to my graduate degree admission at Babson College on a highly competitive Dean’s scholarship.”
~Syed Arham Mehmood, President BEC 3.0
The Inspiration
The founders of BEC, Faizan Arafat and the late Abdul Basit, emerged as winners in an Entrepreneurial Competition called LyCorp, organised by a college in Karachi. Inspired by their success and driven by a shared vision, they decided to establish BEC with the aim of dreaming big and transforming those dreams into realities. Their entrepreneurial spirit led them to explore their own potential as entrepreneurs and embrace the challenges that came their way, taking calculated risks along the journey. With a passion for innovation and a determination to make a difference, Faizan Arafat and Abdul Basit laid the foundation of BEC, paving the way for their vision to flourish and impact the world of entrepreneurship.
The Journey
Over the years, BEC has experienced remarkable growth in terms of density, volatility, and participation. The organisation has expanded its offerings by adding new competitive modules to its portfolio. What started as a startup with three... rounds has now evolved into six modules, each comprising two rounds. Alongside module expansion, BEC has also witnessed substantial growth in its management team, expanding from three members in 2014 to 22 members in 2021. Similarly, participant numbers have soared from 20 in 2014 to over 100 in 2021, attracting students from across the city, including both O and A-level students. Venue-wise, BEC has progressed from three classrooms in 2014 to occupying an auditorium and the entire A-Level floor simultaneously in 2021. Notably, BEC has played a pivotal role in breaking stereotypes by engaging students from various academic backgrounds, leading to a significant 42% increase in science students' participation and a notable 51% increase in humanities students' participation since 2016.
Key Learnings
BEC has positively contributed to breaking the stereotypical notion of categorising entrepreneurship to a specific line of field, colloquially, for commerce groups in colleges.
42% increase in Science students’ participation from 2016.
51% increase in Humanities students’ participation from 2016.
The Impact
The core objective of BEC is to cultivate a mindset that creates employers rather than employees, nurturing individuals to become job creators rather than job seekers. By promoting entrepreneurship, the organisation aims to enrich the youth with the understanding of entrepreneurship as an art of experimentation and the importance of embracing risks. Through its initiatives, BEC strives to make a positive contribution to the economic growth and development of Pakistan. One of the significant impacts of BEC's work has been the realisation among students that entrepreneurship goes beyond the boundaries of formal education. By transforming mindsets from a focus on seeking employment to the drive for creating employment opportunities, BEC empowers individuals to become self-starters and contributors to the economy, fostering a culture of entrepreneurship that paves the way for personal and national prosperity.
Way Forward
BEC has established formal connections with Business Incubation Centres, facilitating collaboration and support for budding entrepreneurs. Additionally, BEC has also connected with the Kamyaab Jawaan scheme initiated by the Government of Pakistan. This partnership enables BEC to leverage the resources and opportunities provided by the scheme to further empower and assist young individuals in their entrepreneurial pursuits. Through these strategic alliances, BEC expands its reach and strengthens its ability to provide comprehensive support, mentorship, and resources to aspiring entrepreneurs, fostering an ecosystem that encourages and nurtures entrepreneurial talent in Pakistan.
Testimonial
“My passion for going towards entrepreneurship began when I took part in BEC 2.0; it helped me a lot, including but not limited to my graduate degree admission at Babson College on a highly competitive Dean’s scholarship.”
~Syed Arham Mehmood, President BEC 3.0
