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Five Reasons How Startup Fever engulfed Pakistani Entrepreneurs

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Startups changing the world with the innovations in every type of business . The Entrepreneurs around the World have gathered to rock the World with their innovative ideas . When world is inclined to change then Pakistan cannot be an exception . The Entrepreneurs like Asad Omar and man behind the source of inspiration and CEO of Naseeb Networks , Mr Moonis Rahman have already left the world How a Developing country like Pakistan could tap the resources and Entrepreneurs who are doing wonders in their fields.

There are several reasons for the inspiration of Pakistani Entrepreneurs to come up with innovative ideas and help build the Small Business Company that fuel the Economy of Pakistan at large . let’s see what inspired the Pakitreneurs to emerge on the pages of Inc , Forbes and Entrepreneurs Magazines .

1.Business & Management Institutes :

The Business Institutes such IBA Karachi , Lums , IBA Sukkur , KITE , KSBL etc have nurtured the business graduates and their entrepreneurial institutes have brought out the creative genie among them and provided them with the platform to create ideas and turn them into reality through incubation and acceleration Centers Such asLUMS center of Entrepreneurship , The Center for Entrepreneurial Development (CED) -IBA Karachi are some of the prominent centers where business graduates are groomed and Ideas are turned into reality through trainings and Grants .

 2.Global Startups Impact :

Startups such as Amazon ,Mashable , Box.net , Google ,Inc , yahoo, MicroSoft etc have really played the key role to attract the young Entrepreneurs . Their Sales , Marketing ,Finance and profit details prompted the Entrepreneurs including Pakistani Entrepreneurs to start their own E-Businesses .

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3.Government-backed Incubation Centers :

Finally , Offical launch of Plan9 & Plan X has surfaced . Plan9 is the Pakistan’s first technology startup incubation program which is being run by the Punjab Information Technology Board (PITB). Plan9 is the greatest Program to provide space, mentor ship, electricity (yes, electricity), and legal support for startups who are incubated. Like Business institutes IBA ,LUMS , Plan 9 & Plan X have attracted the Youth and they (youth) successfully launched their Startups .

 4.Private or Independent Incubators :

Before the Official launch of Government backed incubators ,there were only the Private Sector or Independent incubators who really fueled the Startups and helped the entrepreneurs to Start their business . There are Several Independent incubators but the prominent incubators are : Ivest to innovate I2I is the great Incubator having Startups Savaree , Dheere etc .Net I/O [email protected]’s Incubator supported by Global partners such as Google for Entrepreneurs .

5.The Smartphone Market and Broadband Revolution :

Pakistanis are lucky to have 3G and 4G Spectrums at last . The Next generation Internet Services have transformed the nation and the focus has been shifted to the Technology Driven Startups , IOS and Android APPs etc . With rising demand of Smartphones Android and IOS , Startups have already started reaping the benefits and the figure is expected to go up as the time goes by and with permission from Google Play store to allow Wallet accounts for Pakistani to Sell their APPs globally . With over 14 crore Mobile phone users , the figure is go up and will facilitate the the Small business Investors to reap benefits as 3G and 4G grounds all over Pakistan in next couple of years .

ALSO READ :  6 Six inspiring Entrepreneurs of Pakistan

It is high time for Government specially the Ministry of IT and Telecom at Federal Level and IT departments at Provincial , Division and District Level to devise policies to help boost Startup culture and Establish Business Incubation and Acceleration Centers to encourage young Entrepreneurs of Colleges and universities or Even Schools to Turn their Dream into reality and help the country in Economic Development , Eradication of Poverty and Unemployment .The Startups will help in creating jobs and contribute to Social and Economic Development .

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Economy

Sania Approves Cognitive API Architecture For Ehsaas’ One Window Socioeconomic Registry

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 Islamabad: The Cognitive API architecture for Ehsaas’ National Socio-Economic Registry 2021 is one of the six main pillars of ‘One Window Ehsaas’. With the survey, which is building the registry currently 90.5% complete nationwide, Ehsaas is firming up its plans to open data sharing and data access services for all executing agencies under Poverty Alleviation and Social Safety Division (PASSD).

Data sharing will be done through the Cognitive API Architecture approach. The deployment of Ehsaas API architecture for data sharing will allow executing agencies to access data from the unified registry in real-time to validate beneficiary information. This will empower them to ascertain eligibility of potential beneficiaries. The benefits which each family and individual is receiving from each organization will be visible to all agencies across all Ehsaas programs.

There will be two-way data sharing; agencies with whom data will be shared will also be required to update the registry with their own information, hence the registry will become more robust over time. A final presentation was made to Dr. Sania Nishtar who closely oversaw this process. She praised the technical team working on Ehsaas Cognitive API Architecture approach and congratulated them. Later, this service will be extended to provinces and other government agencies implementing Ehsaas programs as well.

The API architecture for data sharing will facilitate adoption of the Ehsaas One Window targeting Policy. The objective of this policy is to make targeting predictable, evidence based, transparent and effective in the Ehsaas ecosystem. Under the same architecture, the Utility Stores Corporation has also been linked with the Ehsaas database, which will underpin execution of a commodity subsidies program. This approach is being adopted for the first time and will usher in transparency. Previously, there was no way of one government agency knowing what support an individual or a family was getting from another government agency.

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Some families with connections and influence were getting multiple benefits and other more deserving ones were getting none. Now, with the data integration, Ehsaas agencies will be able to see what benefits an individual or the households is getting. But more importantly, it will also reflect their entitlement in terms of various Ehsaas programmes and initiatives, because the data sharing is pegged with the Ehsaas One Window targeting Policy.

The integrated registry and the cognitive API Architecture for the registry is one pillar of the One Window Ehsaas, which will be launched this week. It has six main components: one-stop-shop centers; an integrated digital interface facing the office; a digital information and services platform; a mobile app; an integrated database comprising of cognitive API architecture; and the standardized beneficiary targeting policy.

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Digital

Karachi-based digital bookkeeping startup, CreditBook raises $1.5 million in seed funding

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The Karachi-based digital bookkeeping startup CreditBook, which is trying to ensure that tracking of transactions goes digital, has announced that it has raised US$1.5 million in seed funding from international and local investors.

Key investors included Pakistan’s BitRate Venture Capital, VentureSouq from the United Arab Emirates, US-based Better Tomorrow Ventures, Ratio Ventures, Quiet Capital, Toy Ventures, and i2i Ventures.

Established in June 2020 by Hasib Malik, Iman Jamall, and Hisham Adamjee, CreditBook strives to help microentrepreneurs digitalize and track their transactions.

CreditBook aims to utilize the funding to scale its user base and diversify its product offerings. As indicated by the startup, its registered client base grew 5x in the last six months to reach 500,000.

“Before the launch in June 2020, we had planned to use a mix of digital marketing and offline acquisition. But with lockdown restrictions, we pivoted to a purely digital strategy. We were surprised when we saw thousands of users come onto the platform in the first month with less than $1,000 in total spend,” Malik told Tech in Asia. Via TechinAsia

ALSO READ :  3 Three Best Startup Incubators to apply For Seed Funding & Mentoring
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Digital

Pakistan Moves Closer to Train One Million Youth with Digital Skills

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Enabling people to bring at least an additional US$1 billion each year into the Pakistani economy through E-Commerce skills by 2025.

Pakistan Moves Closer to Train One Million Youth with 100+ eCommerce and Digital Skills

Karachi, Pakistan, February 05, 2021  ………Pakistan has a large labour force that stands among the top 10 largest labour forces in the world, and it’s growing day by day. To create adequate employment opportunities for them is a huge challenge. On the other hand, employers frequently keep saying that they are unable to find workers with the appropriate skills necessary for their businesses. This obviously shows that there is a mismatch between the demand and supply of skills.

The International Labor Organization (ILO) has shown that skills development can play a major role in the alleviation of poverty, when carefully planned and implemented in the context of the available and emerging employment and income-generation opportunities. This multiplies many folds when the skills are acquired in the digital spheres. It not only widens the work opportunities but also opens up avenues for entrepreneurial ventures as well.

Extreme Commerce, Pakistan’s largest and renowned E-Commerce capacity building platform has excelled in its mission of making Pakistan a hub of entrepreneurial opportunities. Under the guidance of Sunny Ali, thousands of aspiring individuals from Pakistan have successfully initiated global e-commerce businesses.

Extreme Commerce, Pakistan’s largest e-commerce skill development and the entrepreneurial platform has achieved yet another milestone with the expansion of 100+ skills training courses through the “Video Boot Camp (VBC).” The Video Boot Camp includes virtual sessions and videos encompassing around 100 essential e-commerce and digital skills required to excel in the spheres of online businesses. The Video Boot Camp training program is specifically tailored to facilitate the budding entrepreneurs and businessmen and freelancers.

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According to Ali, “E-commerce has skyrocketed after the pandemic and is estimated to grow to a whopping $4.3 trillion within this year.” He further adds, “There is a huge potential for growth in eCommerce both domestic and international, and that is why Extreme Commerce has pledged to enable people to bring at least an additional $1 billion each year into the Pakistani economy through E-Commerce skills by 2025.”

The Video Boot Camp includes over a 100 plus income generating E-Commerce skills (income streams) which an entrepreneur needs to skyrocket their businesses. Some skills offered through the VBC include: Selling through Fulfillment by Amazon (FBA) model, Virtual Assistant and FBA Freelancing, online store management of international and local E-Commerce marketplaces, bookkeeping account management services, digital and social media marketing, content writing and graphic designing, 3D designing & modelling, data science and analytics and more.

This initiative of Extreme Commerce will be immensely fruitful in helping their trainees become leading entrepreneurs of the country. Ali, contented with his vision states, “At Extreme Commerce, we offer a multitude of digital skills that are categorized into 100+ courses/income streams under the umbrella of Video Boot Camp (VBC 2021). These skills are pivotal to reducing unemployment and enhancing the capital of our country.” Sharing his focus and goals, he adds, “Skills that actually help you succeed as an online freelancer and even in the real-life environment plus increase your income thereby, are our prime focus right now.”

Earlier, Extreme Commerce and Mishal Pakistan, the Country Partner Institute of the World Economic Forum had signed a partnership to mainstream e-commerce in Pakistan, this includes capacity building initiatives for the media and industry players, including trainings, seminars and workshops.

ALSO READ :  Digital Pakistan Vision and Challenges

The government of Pakistan has estimated digital skills global industry, often referred to as online outsourcing, is expected to generate gross service revenue between $15 billion and $25 billion in 2021.

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