Telenor Velocity, the premier startup accelerator program of Telenor Pakistan, in collaboration with the Special Technology Zones Authority (STZA) and Invest2Innovate (i2i), successfully hosted a thought-provoking roundtable discussion at the prestigious +92Disrupt 2024 conference. The session, titled “From Idea to Impact: Closing the Funding Gap in Pakistan’s Startup Ecosystem,” addressed critical challenges facing Pakistan’s startup ecosystem, particularly the funding gap, and focused on building a more robust and sustainable funding environment for startups in the country.
The roundtable gathered 36 thought leaders from diverse sectors, including investors, startups, corporate entities, entrepreneurial support organizations, and policymakers. The discussions revolved around key strategies to attract both domestic and foreign investment, highlighting the need for policy consistency, tax incentives, and regulatory reforms to create a favorable environment for startup growth. The participants underscored the importance of diversifying funding sources and enhancing the investment readiness of startups by fostering skilled talent, improving infrastructure, and offering comprehensive business support. Collaboration among various stakeholders, including the public and private sectors, was identified as a critical element in driving economic growth and creating a sustainable entrepreneurial ecosystem.
Areej Khan, Chief People Officer at Telenor Pakistan, emphasized the importance of addressing the funding gap to support the growth of Pakistani startups. “At Telenor Velocity, we understand that startups are the backbone of innovation and economic growth. By hosting this Roundtable, we aim to address critical challenges, such as the funding gap and bring together key stakeholders to create actionable strategies that empower Pakistani startups to succeed on a global scale,” she said. Her words highlighted Telenor Velocity’s ongoing commitment to supporting the startup ecosystem and fostering innovation in Pakistan.
Sarah Munir, CEO of Invest2Innovate (i2i), one of Pakistan’s leading early-stage investors and incubators, also emphasized the significance of the roundtable and its focus on solving funding challenges. “Platforms like this roundtable are key to spotting and addressing the funding challenges in Pakistan. At i2i, we aim to connect and collaborate with different stakeholders to build a more sustainable and inclusive future for entrepreneurship,” she stated. Her insights reinforced i2i’s pivotal role in connecting investors and startups to drive sustainable growth in Pakistan’s entrepreneurial landscape.
Hamza Saeed Orakzai, Chief Market Development Officer at the Special Technology Zones Authority (STZA), which is responsible for fostering technology-driven industries in Pakistan, echoed the importance of collaboration. “The STZA is committed to fostering a conducive environment for startups by providing incentives, regulatory support, and access to infrastructure. This roundtable exemplifies how collaboration among government, corporate entities, and the private sector can accelerate Pakistan’s innovation-driven economy,” he noted. His remarks highlighted the STZA’s pivotal role in creating an enabling environment for startups, where regulatory frameworks, infrastructure, and incentives support innovation and technological development.
The roundtable discussion took place within the context of the larger +92Disrupt 2024 Conference, which served as a dynamic platform for uniting entrepreneurs, investors, industry leaders, and policymakers. The conference enabled participants to exchange ideas, showcase innovations, and explore potential collaborative opportunities for driving growth and transforming Pakistan’s startup ecosystem. Telenor Velocity’s active participation in the conference reaffirmed its commitment to nurturing Pakistan’s entrepreneurial landscape and driving impactful change within the country’s startup ecosystem.
In addition to the funding challenges, the discussions at the roundtable also focused on how to scale up impactful startup solutions and foster sustainability in the ecosystem. The need for creating policies that encourage long-term growth and the importance of aligning various industry and governmental players to a common vision were key takeaways. The roundtable was seen as a pivotal moment in bridging the gap between the demand for innovative startup solutions and the necessary financial and infrastructural support to scale these innovations.
As Pakistan’s entrepreneurial ecosystem continues to evolve, the collaboration between Telenor Velocity, STZA, and i2i exemplifies the power of partnerships in addressing systemic challenges and unlocking new opportunities for growth. These partnerships are crucial in closing the funding gap, empowering entrepreneurs, and ensuring that Pakistan remains at the forefront of innovation in the region.
This event highlighted the increasing importance of collaboration between public, private, and non-profit organizations in Pakistan, with the aim of creating an ecosystem where startups can thrive. Through continued engagement, innovative policies, and collaborative efforts, the future of Pakistan’s startup landscape looks promising, with enhanced opportunities for both investors and entrepreneurs alike.
