Government of Pakistan has announced to support start-ups and entrepreneurs to facilitate self-employment opportunities in the country. Pakistan is an emerging star of the technological horizon, the 4th largest industry of freelancing and 161 million cellular subscribers. About 60% of the Pakistani population is under age 35, that makes it much potential online market. New minds bring new ideas, that further open ways to advancement and opportunities. Many start-ups showing interest in the same field. The current Pakistani government has sensed this opportunity and decided to help start-ups in the country.
New Incubation and Innovation plan
Software’s are ruling the world, although reasons for today’s technological development manifolds. Pakistan is not new on the horizon of technological development, but this sector was not on the priority list of Government gurus in the past. Current Government of Pakistan Tehreek Insafe (PTI) has successfully launched of PKR 100 billion finance program to support technological development and innovation in the country. The government negotiated support required in the field with the IdeaGist, the world’s largest incubator. IdeaGist announces an additional $100 million to support government vision on entrepreneurship and innovation in emerging technologies.
State Bank of Pakistan set aside money to support start-ups and SMEs to create self-employment opportunities in the country. In addition to this, being the world’s biggest and renowned technology incubator IdeaGest will support the Prime minister’s vision. They will provide both technical and financial support to set up Five Hundred Ninety (590) incubators and accelerators across the country.
In total, seven (7) different information technology fields are chosen to make investment and bring self-employment opportunities. This joint venture is an excellent opportunity for newcomers in the field of entrepreneurship and start-ups.
Good News for new Pakistani entrepreneurs and Start-ups
Wake up, If you have an idea, skills, and dedication to flourish on the arena of technology, this is for you, for the betterment of this country and future generations.
Topics of the program are:
3. 3D Printing
5. Smart / Intelligent Vehicles
6. Smart Robotics
7. Internet of Things (IoT)
If you want to learn about the listed technology, please visit here.
Looking at the list above, we can see other sectors of development has ignored. they only chose the IT industry to provide support, while other fields could have been selected too. As the first step of the journey, this is welcoming but hoping to start programs in other sectors as well. they have selected a very new form of technological industry, that is interesting but challenging.
The current economic situation and educational level of the entrepreneurs are bigger barriers to make this dream come true. Young and fresh blood requires free air to breathe, that is not limited in this world of technology.