GeniTeam - Removing barriers to innovation

GeniTeam:- Removing Barriers to Technological Innovation
www.geniteam.com
Traditionally technology companies have relied on importing skills, and outsourcing services. Outsourcing was lucrative for cost advantage and savings on opportunity cost. Indian companies were quick in identifying the need, and responded with a strong off shoring model. As a result, by mid 1990’s India emerged as leading offshore service provider, and its IT sector contributed significantly to the Indian economy. Indian companies have climbed up the ladder by making presence in advanced countries. Thus, as of date, many Indian companies like Tata, Infosys and Birla are competing for consulting business with American and European companies. The progression from off shoring to innovative technology companies is gradual but well consistent with growth models suggested by various developmental economists.
Many people ponder on a question that Can Pakistan follow footsteps of Indian technology sector? Few established companies like Techlogix, Netsol, KalSoft, LMLR etc are following similar model and are getting their share of pie in global market of outsourcing. Considering barriers to entry in services industry, a proven success record, it’s harder for later entrants to make an impact in a saturated business process outsourcing industry. However, the current surge in demand for skilled IT resources has definitely created an opportunity for Pakistani IT industry as India, China & Philippines are unable to respond to demands demand for skilled resources and looking into other markets. According to Gartner Inc.
Indian organizations facing the challenge of an IT skills shortage and “second-class” treatment from local service providers must consider offshore outsourcing to obtain high-end IT services.
Responding to the opportunity, GeniTeam (www.geniteam.com) , a Lahore-Pakistan, based startup differentiates itself by taking a slightly different direction to traditional outsourcing model. The company specializes in working with high tech startups, a totally untapped segment in high tech market. The company helps high tech startup in meeting their human capital need, by hiring resources in virtual team model. The virtual team members work devotedly for customers from Lahore office and communicate with customers using internet. The apparently simply model, has its inspiration from open source community and successful consulting of its founders. The founders have helped CambridgeDocs, a company founded by MIT graduate serial entrepreneurs, to expand their product line using virtual team concept. The company’s virtual team presence in Lahore started from founders’ room, and within a year the company moved to 15 engineers in a prestigious office in Lahore. Refining the business model, Khurram and Umair Javed launched GeniTeam to provide virtual teams to various startups by mid 2006. According to Founders, the company is getting rave response from all across globe and foreseeing tremendous growth. They believe their risk is minimized due to a large and well diversified portfolio of partners / customers. Their ambitions and business model is well reflected in their company’s name – GeniTeam is abbreviated from Generation Internet Team. The term, Generation Internet is used for people grown up using internet services like myspaces for collaboration. The company is run by graduates of LUMS; best IT and business university of Pakistan and 80% of its workforce pool consist of LUMS graduates.