The New Pakistani Startup Anthem
Simply put, entrepreneurship has almost become a religion all over the world. Every individual is trying his level best to work out his idea on some concrete surface and earn some tangible profits. However, there have also been start ups or initiatives driven by necessity. The situation is no different in Pakistan now. The article intends to trace the development of start ups in Pakistan and how the country has accepted the entrepreneurial development on this front. Start ups are primarily being borne out of the ideas and enthusiasm of the young Pakistanis. The situation now is that there are startups mushrooming in every nook and corner in Pakistani urban stretches offering different services and expertise in the areas of health, education, online cash payment, etc. To name a few, we have promising start ups such as Appography, Eyedeus, Eatoye, etc. In Pakistan which have made their presence felt on the landscape. These business ventures actually promote the country which is mostly mired in socio-political turmoil in good and positive light.
Looking from a different perspective, these start ups also go a long way in finding alternative perennial solutions in respect of infrastructure and other materials required. For example, InteraCta, has developed technology to make all TV and radio broadcast interactive without the need of additional hardware, thereby only requiring smartphones.
Not only this, there are start up magazines and websites which aim at providing information about the fundamentals to the general public about how to begin with the business. These also give full coverage to their progress and plan. One such website is Starup.org. In addition, there are start up expos and other events organized annually to help people with investment opportunities. This scenario however, is much like India.
Funding is one area where Pakistani start up culture is lagging behind. Unlike India, Pakistan does not have too many options for Venture Capitalists firms. However, seed funding is something which has kick-started the journey’s of these start ups. There are other NGOs such as Educative which are running on investment from friends and family. Therefore, it is speculated that the Pakistani start up sphere will also address the problem of unemployment among Pakistani youth. The entrepreneur evangelists are thus giving boom to the Pakistani economy as well.
Entrepreneurs are brimming with innovative ideas and solutions but to continue this advancement, there is one proposal to add here, how about India and Pakistan using the power of Internet, start running a start up on any of the sectors. Collaborations and associations should be welcomed across the borders. The citizens of both the nations, will, thus, enjoy uninterrupted services. Hopefully, along with the political dialogues in place, start up dialogues will also help create a cordial and conducive environment for both the nations. Similarly, lot of cooperation is required among the local start ups to realize their potential so as people in Pakistan derive benefits out of them.
Disclaimer
This article discourages any projected competition between the India and Pakistan’s start up culture. The idea is to promote and disseminate the entrepreneurial education equally in both the places. The start ups in India also are thriving as in Pakistan. There can be incidental encroachment on business ideas in both countries but inventiveness does exist too. Both countries must learn from each other and the same can be implemented in the two countries. Pakistan is now pacing up on the same trajectory as India was a few years ago. Nevertheless, off-shoring in Pakistan grapples with few issues. Vocational training, issues with equity infusion in the economy, dearth of Angel investors, no concrete start up plan, lack of good infrastructure such as Internet, land, education etc are few issues which demand consideration by the nation. Albeit, limited public awareness about the initiatives is also a crucial factor that stifles the growth in this regard. Notably, local startups such as Karachi Snob, Pak Wheels, Home Shopping have fared quite well but their operating costs are much more and not economically benefiting. Further, their reach is also restricted to peripheries of the cities in Pakistan. The villages of Pakistan are pretty clueless of about what start ups are, let alone the benefit one can get. The author opines that Pakistan has a tremendous talent pool which needs some kind of recognition. Government can also play a major role by relaxing stringent laws and regulations on start ups as India has done recently.