Karachi, Pakistan – Alchemy has been shortlisted as one of the front runner Pakistani startups to compete in the MIT-CEF BAP (Business Acceleration Plan). The MIT-CEF countrywide competition aims to shortlist and discover promising startups in Pakistan, which are then offered support and advice from key individuals from institutions and organizations IT organizations such as OPEN and MIT. The winners of the competition will be aided by these organizations and individuals in growing their companies and profiles.

About MIT-CEF (Massachusetts Institute of Technology Club of Pakistan Enterprise Forum)
MITCEF objective is to improve the economic well being of the people of Pakistan through development of an Entrepreneurship Promotion Program for Pakistan MITCEF, OPEN (Organization of Pakistani Entrepreneurs) and MIT Alumni of Pakistan and other Pakistani well wishers have joined together to help in development of an Entrepreneurial Ecosystem in Pakistan (EEP).

About OPEN (The Organization of Pakistani Entrepreneurs)
The Organization of Pakistani Entrepreneurs of North America is a voluntary not-for-profit association dedicated to the promotion of entrepreneurship within the Pakistani community.

OPEN was formed in 1998 by a group of Pakistani-American entrepreneurs and corporate executives with the aim of nurturing entrepreneurship and professional excellence in the nascent community. OPEN, Inc, registered in the state of Massachusetts in the year 2000, is a not-for-profit organization with the charter to provide networking opportunities for Pakistani entrepreneurs and professionals.

About Alchemy Technologies
Alchemy Technologies is a leading provider of Basel II compliant Risk management and central bank compliance solutions for financial market participants. With customers and partners in Pakistan, Middle East and Asia Pacific, Alchemy has been growing at 100% year on year, for the last four years. The company’s flagship product, the “Alchemy Risk Manager” has won multiple industry awards and has been successfully implemented at multiple client sites including banks and insurance companies.

Headquartered in Karachi, Alchemy is expanding into Lahore, Bangkok and Singapore to better serve its customers.