Pakistan may be the next big Asian Market for Tech startups. Over 220 million people and an increasing number of local capital are creating opportunities for tech entrepreneurs, as Miriam Partington reports in DW.
“Pakistan’s tech ecosystem has been slowly gaining momentum in the last few years,” says Hena Husain, founder of London-based communications startup The Content Architects. “It’s home to a strong tech talent base and it’s still competitively affordable, which makes it ideal for early-stage founders like myself.”
Pakistan has been named one of the fastest-growing economies in Asia in McKinsey and Co’s latest report on the Pakistani ecosystem, DW said
Iskandar Pataudi, a Pakistani-born tech professional working in Berlin suggests that the increase in interest in Tech around the world has led investors to show interest in Pakistan, which is an emerging market, said DW.
He says: “A few Pakistani tech startups have raised huge funding rounds at a time where our economy is just keeping its head above water,”
“This makes sense, considering we have a huge market of young, digitally-savvy consumers and increased 3G and 4G connectivity.”
Pakistan’s tech ecosystem has been slowly gaining momentum in the last few years,” says Hena Husain, founder of London-based communications startup The Content Architects.
PM Imran Khan launches the‘ Digital Pakistan’ initiative. It aims to introduce modern technology for public welfare. The DW article said that Egyptian ride-hailing company, Swvl, has recently disclosed plans to invest $25 million in Pakistan’s tech sector over the next two years to fund pre-seed startups and create 10,000 jobs. The article further said that the startup industry “is central to government plans to create an enabling environment and stimulate economic growth.”
In the latter half of 2019, Pakistan passed six reforms focused on creating a better environment for Tech-based businesses in the country. According to DW, these reforms seem to be effective as “Pakistan’s position in the World Bank’s Ease of Doing Business report jumped from 136th place in 2018 to 108th place in 2019.
According to Rabeel Warraich, founder of Pakistan-based venture capital fund Sarmayacar, a stable political landscape provided by President Imran Khan has encouraged companies to invest. “Tech startups that were once considered risky investments are more commonly looked upon by venture capitalists as ‘high-yield opportunities,'” said Warraich.
The best Tech startups found in Pakistan are filled with innovative ideas, innovative routes to market, and innovative products. They have exceptional growth and exceptional growth strategy.
- MedzMore
- Bazaar technologies
- Trellis housing finance limited
- Best online grocery store
- Hungly
- Tenthwheel
- Chatty
- Dastgyr technologies
- YPay financial services
- PostEx and many more.
