ISLAMABAD: Wafi Energy Pakistan, part of Saudi Arabia’s Wafi Energy group, recognized young entrepreneurs at its 13th Tameer Awards, the company said on Friday, with applications rising to more than 700 from over 450 last year.

The program, which the company says has supported young entrepreneurs for over two decades, is run by an affiliate of Saudi Arabia’s Asyad conglomerate that became majority shareholder of Shell Pakistan in November 2024. Pakistan’s Finance Division said in February the company was considering investing up to $100 million over two to three years, as Islamabad seeks to draw Gulf investment and sustain its economic recovery.

“Pakistan’s future economic growth will depend, in part, on young entrepreneurs building businesses that solve real problems and create opportunities,” said Zubair Shaikh, the company’s chief executive officer in a statement. “By connecting entrepreneurs with expertise, networks and opportunities, we want to help promising young innovators and businesses progress and build lasting value for Pakistan.”

The company said 30 finalists were selected across six categories and presented their businesses to judges from Pakistan’s corporate, business, investment and academic sectors.

“The diversity of ideas presented by our finalists shows that young Pakistanis are developing solutions across energy, technology, sustainability and artificial intelligence,” said Habib Haider, the company’s director of retail.

Winners included As Sammak Farm, a biofloc fish-farming business, in Clean Energy Solutions; HAS Handicrafts, which turns textile waste into fashion and lifestyle products, in Circular Economy; and Dastaan-e-Rumaan, which works with women artisans to weave plastic packaging into durable products, in Empowering Women.

PAKHYDRO, a locally developed hydrogen-generation system, won Bright Ideas award, while VM Nebula’s Sarkit, an AI-powered, voice-first retail platform for bazaar merchants, won the Technology Innovation award. Sarai by Thingsty, an electric vehicle charging platform, won in the Transportation & Mobility section.

The Tameer Awards are held to support young entrepreneurs. Since its inception, the program has supported more than 1,200 startups and reached over 1.5 million young Pakistanis through entrepreneurship initiatives.