The xiQ Campus Drive 2020 was held on Tuesday, March 3, 2020 at LUMS. xiQ, a Silicon Valley based startup, uses AI to redefine B2B sales and marketing, and provides cutting-edge technology packaged in an award-winning user experience. Their aim is to build the next generation AI-based sales and marketing platform.
The session started with Mr. Adeel Chaudhry, Product Manager xiQ and LUMS alum, introducing himself and sharing his experience of working at a multinational corporation in comparison to his time at the startup xiQ. He talked about a technological revolution in sales and marketing, the core revenue generating departments for any business. He also spoke about the difference between the B2B (Business to Business) and B2C (Business to Consumer) model and explained that xiQ’s focus is on B2B.
Mr. Chaudhry then invited the CEO of xiQ, Mr. Usman Sheikh to speak about his diverse experience of having worked with SAP and various Global fortune 500 companies. Mr. Sheikh talked about how through its software technology, SAP generates an annual revenue of USD 100 million per customer from its top 60 customers. He elaborated on how the rate of change in AI and the amount of change that occurs will be quantum.
He also informed the audience about the difference between selling a product versus a service. He explained the meaning of the company name, which stands for multiply your IQ, and how the startup is built around design thinking, mobility and AI. Mr. Sheikh wants to bring the Silicon Valley mindset to the youth in Pakistan so that they are encouraged to come up with innovative ideas. He also told the audience about the xiQ’s app, the high rating they have from their clients and that the xiQ received the 2020 ABM Leader and High Performer Recognition.
Later, Ms. Bilal, Marketing Communications Manager xiQ and also a LUMS Alumnae joined Mr. Sheikh to conduct a chat session where she asked him questions regarding the idea of building a startup, and the opportunities and challenges of operating in Pakistan. Mr. Sheikh then briefly explained the process of applying to the startup.
The session ended with an interactive Questions and Answers session.