Syed Amin-Ul-Haque, the federal minister for IT and telecom, stated that $355 million was invested under the Startups echo system in 2022.
We have created policy proposals for State Bank, SECP, FBR, and Intellectual Property Organizations in order to support the startups ecosystem.
The regulatory procedures for the startup environment will be made simpler by these recommendations.
Ignite is also creating a startup platform that will assist investors in evaluating firms under several industry or topical categories. Investors will eventually benefit from this when shopping.
Also, startups can use that gateway to communicate with investors and present their ideas.
Steps For Startups and Investors
Therefore, it’s a business matching website that will aid in the relationship-building process between investors and startups.
He was the keynote speaker at an investment conference held at a local hotel sponsored by Silicon Valley’s Organization of Pakistani Entrepreneurs (OPEN) and USAID.
The main topics of discussion at the conference included the general investment climate, Pakistan’s investment environment’s prospects and problems, and how international investors might boost their investment in Pakistan.
The Organization of Pakistani Entrepreneurs (OPEN) is a global network of thousands of Pakistani businesspeople and professionals who work for and run some of the most cutting-edge organizations of the modern era.
Members of the OPEN Charter have exits worth more than $12 billion and a net worth of over $2 billion.
The efforts made by Mr. Junaid Qureshi of OPEN Silicon Valley and USAID to promote US investment in Pakistan through a roadshow around Pakistan were commended by the Federal IT Minister.
He encourages US-based company owners to bring their investments to Pakistan.
According to him, the Ministry of IT and Telecom’s efforts over the last four years turned Pakistan into a haven for investors in the IT & Telecom sector.
“On my recommendation Government of Pakistan offered various facilities and relief to both the Industry, recently, Finance Minister officially announced to resolve the main issues facing by IT Industry regarding 35% repatriation of the foreign Exchange and setup FBR special Desk in Islamabad, Karachi & Lahore”, IT Minister added.
According to him, eight Ignite incubation centers have sparked an entrepreneurial spirit in the nation that is assisting in the creation of new enterprises in practically every industry.
In the past year, diverse sources invested $20 million in the start-ups housed in the nation’s National Incubation Centers.
20 training facilities have been constructed across the nation, according to Syed Amin-Ul-Haque, as part of the National Freelance Training Program, which was started and supported by the Ministry of IT.
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