Saudi-Backed Wafi Energy Sponsors Pakistan Startup Competition

Wafi Energy Pakistan has sponsored the Pakistan regional round of the World Startup Championship, partnering with NED University of Engineering and Technology to bring more than 300 student‑led startups from across Sindh together for pitches, feedback and competition for a place in the national finals. The sponsorship was delivered through Wafi Energy’s social investment programme, Tameer, and highlights a growing flow of Gulf capital into Pakistan’s entrepreneurship ecosystem — notable because Wafi Energy Pakistan is majority‑owned by Wafi Energy Holding, an affiliate of Saudi Arabia’s Asyad Group, which in 2024 acquired an 87.78% stake in the former Shell Pakistan.

“Pakistan’s young entrepreneurs have the ideas, ambition and resilience to solve some of our country’s most pressing challenges,” said Imran Qureshi, director of corporate and government affairs at Wafi Energy Pakistan. “We are committed to giving them access to the platforms and opportunities they need to transform those ideas into sustainable businesses. Our collaboration with NED University and SEE Pakistan reflects our belief that investing in young innovators today is an investment in Pakistan’s future economic growth.”

Event scale and format

The regional competition formed the Pakistan leg of SEE Pakistan’s World Startup Championship, an annual international entrepreneurship contest. Organisers say the event brought more than 300 teams from universities across Sindh to pitch business ideas to industry leaders, receive mentoring and compete for advancement to national rounds. The format emphasized student‑led ventures and early‑stage concepts, aiming to connect classroom innovation with real‑world investor and industry feedback.

Corporate and financial context

The sponsorship forms part of Wafi Energy Pakistan’s broader expansion in the country. The company reported a 148% jump in quarterly profit in April, with profit after tax reaching Rs2.16 billion. Wafi Energy has been adding retail fuel sites, expanding convenience store operations, and has launched a lubricants partnership with Indus Motor Company. Chief executive Zubair Shaikh framed these moves as long‑term commitments to sectors that support Pakistan’s development.

• Sponsor: Wafi Energy Pakistan (majority‑owned by Wafi Energy Holding, affiliated with Saudi Asyad Group)
• Event partner: NED University of Engineering and Technology
• Competition: SEE Pakistan’s World Startup Championship (Pakistan regional round)
• Participants: more than 300 student‑led startups from universities across Sindh
• Corporate results: 148% jump in quarterly profit; profit after tax Rs2.16 billion

Outlook

The move underscores a wider trend of Gulf capital diversifying into Pakistan beyond traditional energy and infrastructure deals and into youth entrepreneurship and innovation programmes. While sponsorships and accelerator events create visibility and networks for early‑stage founders, the critical question remains whether these platforms will translate into funded, scalable companies. For Wafi Energy Pakistan, the sponsorship both amplifies its Tameer social investment profile and signals the Asyad affiliate’s willingness to deploy commercial and social capital in ways that intersect with Pakistan’s startup ecosystem.