Pakistani Startups Boom NIC-Image

In recent times there is a Pakistani startups boom. The Covid-19 pandemic makes many people jobless and ultimately forces people to initiate startups for earning. Due to the rapidly changing dynamics of the world, e-commerce gained huge fame in Pakistan. The novel coronavirus pushed people online and forced them to introduce new ideas according to modern-day business.

Some fine stats pertaining to Pakistani Startups Boom

Huge investment made in automobile, agriculture, health, hotel industry, food, sports, and technology industry to boost Pakistani economy. Mckinsey & Company foresee that economy will grow at 6% in the year 2026. Recent research shows that small-scale investment in the year 2021 is at an all-time high in Pakistan. Investment is not only seen in Islamabad and Karachi but investors have shown investors in each industry of the country. The youth has started to show interest in doing business at the national and international levels.

To understand the world in a better way, what is happening just see Airlift company as an example. The company earned $85m from delivery service in a short time. There are countless businesses that started from zero and rapidly growing. There is many more startup opportunity but the biggest hurdle is the country law. Many startups looking for investment from abroad but there is a legal issue in the law. Due to security issues, not all foreign companies are allowed to invest in Pakistan and only domestic companies can support Startups, therefore, required revision in law and policies.

People have skills and ideas but due to a lack of support from the government, they are unable to convert them into realities. There is also a shortage of the latest technology, infrastructure, and mentorship in the country. It needs time that government should introduce state of the art technology in the country from other countries and support creative young talent financially.

Lack of Talented Human Resource & Gender Inequality

In addition to the above, another big challenge faced by startups is that they are unable to find the best human resource. Research shows that many talented people prefer to opt for well-reputed and established organizations. That causes a scarcity of talented manpower. Talented women are very good at office work but they are not provided a comfortable environment and equal opportunities that create gender disparity.

The future of the country seems bright as the Government is also backing this Pakistani startups boom. Come, book a room in Islamabad and witness things by yourself.

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