Startup Fund
Caretaker IT Minister Dr. Umar Saif announced the official launch date of the Pakistan Startup Fund on January 9 during an interview with private TV channels. Dr. Saif expressed confidence in the vast potential of Pakistani youth, underscoring that Pakistan boasts the world’s second-largest online workforce.
Highlighting the success of Pakistani startups, the minister revealed that these ventures have attracted nearly $800 million in foreign investment over the last four years. Pakistan, according to Dr. Saif, ranks as the seventh-largest market for mobile phones globally, with an impressive 75 million broadband users. He also noted that the number of social media users in Pakistan exceeds the total population of Canada.
Discussing initiatives aimed at promoting IT education, Minister Saif emphasized the government’s commitment to nurturing talent and innovation in the technology sector. He pointed to ongoing efforts, such as conducting tests for IT scholarships, as indicators of the dedication to fostering a skilled workforce in the country.
The launch of the Pakistan Startup Fund on January 9 represents a significant step towards boosting entrepreneurship and innovation in the country. Dr. Umar Saif’s remarks underscore the government’s recognition of the pivotal role played by the technology sector in Pakistan’s economic landscape and its commitment to empowering the youth to contribute to the global digital economy.
As the fund prepares to roll out, it is anticipated to provide crucial support to emerging startups, fostering a conducive environment for innovation, and further establishing Pakistan as a notable player in the global technology ecosystem. The announcement aligns with broader efforts to position the country as a hub for technological advancements and entrepreneurial endeavors, leveraging the immense talent and potential within the Pakistani youth.
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