The Master of Finance Graduate Using Innovation to Solve the World’s Challenges

What makes a good entrepreneur? Is it someone willing to work into the night and put in long hours at the office? Or is it someone who looks to make a change in the world? Someone who dreams of leaving it in a better state than when they joined it?

Sufyan is one of those people. Born in Pakistan, he felt an internal tug towards Europe after spending much of his school life in the UK. When his family later returned to Pakistan, he missed the lifestyle he had experienced in England. With Europe in his sights, Germany presented an affordable and safe environment for his further studies. He left his home country to study for his bachelor's degree at a public university. He was eager to explore entrepreneurship, in all its facets, further.

“I saw a lot of hopelessness, where there's no room for people to dream.”

"Becoming an entrepreneur was never about money for me," he says. "I loved science and math as a child. I saw a lot of suffering growing up in Pakistan, and I knew I was privileged; I wasn't hungry, and I could read and write. People there still die from lack of sanitation, lack of medical access, or dirty water. It didn't seem fair, and I wanted to make it a more equitable world. 

From a young age, I knew I wanted to have a more significant impact on the world and not spend my life trading time for money. It made sense to me that if I was to solve the larger problems in the world, I needed a living wage so my brain would be free to think. And that is why being an entrepreneur was so attractive to me—to have a business that solves a societal problem while offering financial independence."

“I wanted the best of both worlds: finance and entrepreneurship at WHU.”

But how did Sufyan end up with a Master of Finance degree at WHU? Simple: It combined WHU's reputed entrepreneurial ecosystem and Sufyan's love for numbers. “I didn't know people who wanted to start companies. As a foreigner, I was lacking that network. People I met told me WHU was the heart of entrepreneurship in Germany, and the stories of successful founders inspired me. As I love finance, it was the best of both worlds.”

While at WHU, Sufyan participated in the CFA Institute Research Challenge, an annual global equity research competition. It was through this challenge that Sufyan met his now co-founder, Nikolaus. They joined another WHU event, 3 Day Start-Up, which simulates launching a company from start to finish. They won this, too, gained vital mentorship, and were accepted into the WHU accelerator with their first investors. “There's a lot of confidence to be gained being part of a network that supports you. WHU played a major role in launching our company, which gives us an advantage—every little helps.”

“HonestDog should help prevent suffering in pets, whatever path it takes.”

Sufyan is the co-founder of HonestDog. A company that came to fruition after weeks of market analysis, research, and ideating on existing challenges. This research discovered that selling pets online is Europe's third most profitable illegal market. This is a problem that impacts shelters already at capacity, where people find themselves with a dog with behavioral or health issues and are unable to cope. 49% of all animal shelters in Germany are reported to be full or overcrowded. This is a growing issue, with almost 11 million dogs in Germany alone—a number that exploded during COVID-19.

However, the impact of this illegal market is not just on animal shelters but on the health of dogs. "In the last 150 years, the lifespan of domestic dogs has halved," Sufyan explains. "Much of it is due to human greed because of bad breeding. This issue could be prevented if we go back to the source and control the breeding of pet dogs. How can we promote responsible breeding and educate buyers to make responsible decisions? HonestDog was born out of this desire to ensure potential dog owners can find responsible breeders who truly care for the wellbeing of their animals." 

And how has start-up life been for Sufyan so far? "It's pretty challenging," he admits. “It is difficult to achieve the impact you want to create and monetize simultaneously. So, we're trying to decide which route is best. Many important choices need to be made, but it's crucial that we keep going and don't lose sight of our vision.”