What are the biggest challenges facing startups in Pakistan? The biggest challenges facing startups in Pakistan are the lack of high quality management education, lack of quality resources and lack of networking mechanisms. What makes a startup successful in its early stage? Good product idea, an enthusiastic team and an enabling environment. We are well prepared and motivated. What advice would you give other startups in Pakistan? Business leaders are the ones who can help not only Pakistan but the developing world make more money. Education and innovation for schools is the first step, business leaders can save lives. Great leaders have a great impact on the lives of others. I want to be one of them one day. Qarib Alaporia: When did you start your company? I started my company in September 2016 and because it is an e-commerce company selling electronics goods, my company had its prototype ready in February 2017. What are the biggest challenges facing startups in Pakistan? The biggest challenge for startups is the unavailability of a healthy pool of entrepreneurs to enter the market. It is not easy to get investment for the projects. What makes a startup successful in its early stage? It is necessary to have a passion to do business for the happiness of people. The product is something that we want to share to give a better life and I hope my company can make the right connections between the company, the government and the customer. What advice would you give other startups in Pakistan? I would suggest every entrepreneur to think over those things if the core values they shared were true and if they were acting as one will.
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Ebba Shama Khan: Earlier I was promoting my event at the Startup Festival with my brother. Therefore, I came to Islamabad for the first time, It was amazing. When did you start your company? I started my company in July 2016 with my brother. We work with clothing and electronicWhat are the biggest challenges facing startups in Pakistan? What if I did not mention e-commerce? Let’s start with what does “Founded” mean to a startup in Pakistan? Me: An app for all your problems Founder: A great product at a time when it is needed most Me: An online marketplace try this website you earn money and build wealth Founder: an innovative startup with huge potential that is currently not achievable for lack of awareness and funding For a startup, there is a lot more to it than a lot of money, a large amount of internet bandwidth and a lot of hope. You can buy all of them an Android phone, but at what price? The risk to invest is your sanity; you can lose your wife, your houses, your cars, your land, your family and possibly your memories as well. This article is a complete rip-off of interviews and writing done by other people to find out whether Pakistanis find it tough more tips here start their own business or not. The only attempt at a conclusion: “Startup” tends to indicate a new business venture, especially one that can have a huge impact on the entrepreneurial sector of the world. However, it can apply to any business. My startup journey started a year and a half ago, at the end of last year. And I tend to see Pakistan as a great place to start and reach out to Pakistanis around the world. According to Census [2011], Pakistan has a population of 175 million. The percentage of youth between 15 and 24 is 50.7%.
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If you calculate that (125 million x 50.7%) is 6,250,000. In just that one generation, 6,250,000 people have not heard about business investment. Never mind the thousands of people who started the ride ten years after leaving Pakistan; we are talking about a huge marketing disadvantage. Even if starting a business isWhat are the biggest challenges facing startups in Pakistan? For Indian startups which have been present in Pakistan for decade now, they have learnt the hard way – the only people who are likely to fund them now are angels. But what of those that were in India, which have a much larger pool of consumers? Since I started working as a serial entrepreneur in mid 2013, I found that at least 75% of all founders have not spent sleepless nights trying to raise a Series A. Almost never does the task get so challenging as in Pakistan where I regularly get propositions of 100-300K in angel funding, which is 10-15 times the actual fund needed. The problem is that the existing entrepreneurs just don’t know that they can get money in that amount. Their first idea has been launched successfully. They have developed a company that they now want to try to scale. Given that the founders are older, it is unlikely that angel investors will be interested in backing them. However, a closer look shows that the financial problems are actually quite different for India than in Pakistan. It is not nearly as harsh as I had thought it would be only due to the liquidity crisis that the country is going though, where the banks have stopped funding.
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In fact, the startup ecosystem in India is actually stronger and healthier than the one in Pakistan because people somehow survived the financial crisis that has swept through Pakistan for the last few years. But starting a series A and financing with banks is equally challenging if one remembers that bankers put so much pressure on founders. For Indian startups, the liquidity crisis facing the country is as bad as it is for Pakistan. But as long as the banks have funds with them, they are not so interested in the startups as much as they otherwise would be. In Pakistan’s case, they usually make founders wait at least a month for their money, usually 2-3 months. I was surprised to see that all startups that had spent money on marketing, hiring consultants