Yusuf Hussain, a prominent figure in Pakistan’s technology landscape, recently participated in a Tech Drive episode. The discussion revolved around his journey, milestones achieved, and his vision for the future of Pakistan’s tech ecosystem.
A Career Dedicated to Empowering Pakistan’s Tech Industry
Hussain’s dedication to Pakistan’s tech scene began early in his career. He recounted his experience working in the US during the 90s, where Pakistani companies competed effectively against global giants like India. Witnessing India’s subsequent growth to a multi-billion dollar market, Hussain emphasized the need for Pakistani companies to rise to the challenge. He highlighted companies like Mr. Imran’s as potential leaders in this endeavor.
Ignite: Nurturing Innovation and Meritocracy
Hussain discussed his role at Ignite, a government initiative to promote technology entrepreneurship. He acknowledged the ministry’s crucial support and his focus on meritocratic practices. He highlighted promoting deserving individuals and removing those who weren’t delivering results.
Celebrating Milestones and Witnessing a New Generation of Tech Talent
Hussain expressed his pride in being part of Pakistan’s first IT export company in the early 90s. He acknowledged the challenges faced during the dot-com bubble burst but noted the valuable lessons learned. He lauded the emergence of a new generation of passionate entrepreneurs, many from local universities, who are driving innovation.
NIC: Enabling Growth Across Pakistan
Hussain explained the rationale behind establishing the National Incubation Centers (NICs). He emphasized the need to foster a supportive ecosystem that empowers founders with high aspirations. He highlighted the importance of respecting founders’ visions and providing spiritual encouragement rather than exerting control. NICs, established under the leadership of Minister Anusha Rehman during her tenure, were instrumental in achieving this goal.
Building a World-Class Tech Industry: The Importance of Human Resources
Hussain stressed the national significance of developing world-class programming resources. He advocated for promoting mass participation in innovation and highlighted NIC’s efforts to enable access to growth for a broader segment of society. He expressed his admiration for Minister Anusha Rehman’s initiatives, including the STZA ordinance, which he believes will be a game-changer for Pakistan’s tech industry.
Learning from the Past, Building for the Future
Hussain acknowledged the challenges faced by Pakistani companies in the past, citing the importance of consistent leadership and learning from mistakes. He expressed his belief that Pakistan could have achieved significant growth earlier if not for political instability.
Equipping the Next Generation: Programming Skills and Startup Essentials
Hussain identified the lack of skilled programmers as a critical supply-side issue. He emphasized the importance of learning programming as a foundational skill for various tech fields. He highlighted the provision of training courses and the significance of open-source resources.
HBL VC Fund: Strategic Investments and Learning
Hussain explained the purpose of the HBL VC Fund, which aims to support HBL’s digital transformation journey and explore opportunities in FinTech, online education, and healthcare platforms. He emphasized the importance of a win-win approach for both startups and investors.
Scaling Startups: The Importance of Unit Economics
Hussain highlighted the need to learn from both successful and unsuccessful startups. He cited Daraz and Bykea as examples of successful ventures and Sabzi.Pk as a case study in unit economics. He emphasized the importance for founders to understand their business model and financial viability.
Looking Ahead: Deep Tech and Innovation
Hussain expressed his excitement about emerging technologies like AI, deep tech, augmented reality, blockchain, and cloud computing. He identified deep tech as an area of particular interest, reflecting his engineering background at Cornell University.
A Message for Young Tech Aspirants
Hussain concluded by offering valuable advice to aspiring entrepreneurs. He acknowledged the challenges but emphasized the fulfillment and value creation associated with innovation.
