What is the startup ecosystem like in Pakistan? We’ve talked with an entrepreneur who wants to start a business in South Asia and understand some of the hurdles in doing so. The government believes in the power of having a strong startup ecosystem. And much like how the government supports a strong banking sector, it views entrepreneurs as crucial to economic growth. Founded sites 1991, at the initiative of liberal politician, Benazir Bhutto, the Growth and Management Sciences International, or GMSI, has a clear aim: to allow entrepreneurs across the country a ‘one stop’ solution to develop their business in the most efficient manner. It aims to build a unified and progressive business, research and social environment through its six pillars. The first two of these are supporting the entrepreneurial ecosystem, and helping entrepreneurs meet their goals. As part of its entrepreneurial environment, GMSI has made Pakistan a special zone for the promotion of entrepreneurship. The organization is also providing a platform for entrepreneurs to receive financial assistance from the government and the private sector for starting new enterprise. Through its offices in Islamabad and Lahore, a vast network of specialists including accountants, bankers, business consultants, lawyers, and others, helps the entrepreneur be successful in its pursuit. With this article, Techstory spoke with an entrepreneur, who doesn’t want to disclose exactly what kind of business they are looking to start in Pakistan. “We’ve faced a lot of struggles and opposition, especially when it came to raising money. Luckily, we’ve made it to first hurdle (raising the capital). However, we’re yet to close business”, the entrepreneur commented.
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They did, however, voice concerns about the government and its attitude towards foreigners seeking to run business – despite foreign currency and economic reforms taking place. “There are fewer banking institutions in Pakistan. Moneylenders are not legally allowed so entrepreneurs who wish to raise funds consider a family friend or neighbor. Funding businesses fromWhat is the startup ecosystem like in Pakistan? If you are reading this, you must already know that there is no startup ecosystem in Pakistan. Ok, let me rephrase that and give a clear statement. There is a startup community in Pakistan which can be described as a vast ocean where the water is all over the place. The word “ocean” is intentionally used because people who are working in the ecosystem say there is one, when there is none. Another reason for using ocean, an official governmental statement was made by our Telecommunication Authority Chairman that “Pakistani start company website are actually the core of the global startup market and they have immense potential”. A senior leader from Intel in Karachi provided proof of this statement, while he was giving an interview to the CEO of a prominent website and mentioned that “Pakistani start ups are actually the core of the global startup market”. Other reports were made by top businessmen as an example, someone mentioned that the population under the age of 20 is largest in Pakistan, and thus the world’s largest number of youth entrepreneurs is right here. At one point of time, the Minister said that we have more than 10 start ups. Ok, that was a true statement most of the time. In 5-10 days, 5 or more things, which you did not hear about a month ago, can make it to the top headlines.
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Even big projects have seen their sudden and quick takeoff. “ As far as the ecosystem is concerned, there are two fundamental problems which keep this ecosystem from more information its full potential. The first is that nobody puts the system in place to make people aware of the startup ecosystem. The second is what the media does. Even the government has its difficulties, it can also be an impediment. According to one senior journalist, you can barely find good journalism in the first few months of every year as an editor receives a hefty report which requires time and effort to cover or you can have a politician to cover one eventWhat is the startup ecosystem like in Pakistan? Which areas of business are most promising? Would you like to work with others in a good startup community? We are pleased to announce a series of interviews designed to get inside the startup ecosystem in Pakistan. The first interviews will be conducted with the co-founders of the startup platforms, while the second set of interviews are with some startup founders and investors who are currently working in Pakistan. This is the first interview in the series and we will be interviewing: Dawn.com A blog aggregator that pulls news from regional and international sources. I first came across Dawn.com when it was searching for an intelligent news aggregator. After working for a while as a site admin, they turned to me because the admin section of their software needed some fixing. Since then, I’ve been helping them not only with their admin system, but also by doing design, writing, and management all the way from start to finish.
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I got in touch with Sam Smith, Dawn’s founder, by e-mail and described their mission and opportunity. He set up a meeting with Dawn.com, organized by Shemali from Myra, where we talked at great length about the project and their end goal. It’s a great story of a Pakistani co-founder team who didn’t give up on a great idea even when they were up against an entrenched incumbent. I hope the story inspires some budding entrepreneurs in Pakistan to take a more entrepreneurial challenge. I got the impression that Sam and his team, ranging from the in-house IT employees to a small team in Brooklyn, have very ambitious goals. It’s clear that they’re confident that the Pakistan Bloggers Social Network would be a success. Despite receiving funding from a variety of sources, Dawn.com has a clear vision and they’re hard at work towards it. The team has grown over the