The Serena Hotel in Islamabad played host to a landmark event on December 5, 2024, celebrating the successful conclusion of the European Union-funded AP Asia project. Organized by Accelerate Prosperity, an initiative of the Aga Khan Foundation, the event brought together entrepreneurs, innovators, and experts from across Pakistan, Afghanistan, Kyrgyzstan, and Tajikistan to reflect on the impact the project has had over its four-year tenure. The AP Asia project’s mission was to catalyze entrepreneurship, and by all accounts, it has exceeded expectations, empowering thousands of entrepreneurs and creating thousands of jobs across the region.
Throughout its duration, the AP Asia initiative directly supported over 2,800 entrepreneurs, fostering the growth of more than 1,900 businesses. These ventures have not only contributed to the local economies but have also been key in driving employment, with over 4,700 full-time equivalent jobs created. Notably, 38% of these roles were filled by women, and 48% were occupied by youth, highlighting the project’s emphasis on inclusive growth. The AP Asia project also played a vital role in promoting regional trade, providing a platform for innovative business solutions and fostering cross-border collaboration.
The event itself was a celebration of these accomplishments, with key highlights ranging from personal stories of entrepreneurial journeys to discussions on the future of startups in the region. One of the standout moments was the “Startup Spotlight” session, where four entrepreneurs shared their inspiring stories. Hallar Azad from Mixeal, Shohina Gadaybaeva from Nasli Solim, Sayed Naqib Anwari from Rayan Manufacturing, and Iskender Suleimanov from Spark App took the stage to talk about their businesses, the challenges they faced, and how the AP Asia project helped them overcome these hurdles. These entrepreneurs provided firsthand insight into the impact of tailored support and the power of entrepreneurship in driving local economies.
Ambareen Baig, the Deputy PMU Manager of AP Asia, took the opportunity to present a summary of the project’s key results. She highlighted how the initiative had not only empowered individuals but had also built a robust entrepreneurial ecosystem that will continue to thrive long after the project’s conclusion. Imran Shams, Executive Director of Accelerate Prosperity, shared his reflections on the transformative nature of the AP Asia project, emphasizing how it had sparked growth and resilience in the region’s startup scene. Meanwhile, Bibinur Alibaeva presented the innovative tools developed to further empower startups, showcasing how these resources are set to continue supporting entrepreneurs.
The event also featured a Reverse Panel Discussion, where experts explored the future of startups in the region. Key figures such as Barbara Riksen from the EU Delegation to Pakistan, Javaid Iqbal from the Special Technology Zones Authority (STZA), and Faisal Aftab from Zayn VC discussed the challenges and opportunities facing startups and how future initiatives could build on the momentum created by AP Asia. A particularly moving segment was “The Founders’ Circle,” which focused on empowering women entrepreneurs. Hosted by Maria Umar of Women’s Digital League, this session celebrated the achievements of women in business and underscored the importance of fostering gender-inclusive entrepreneurship.
As Jeroen Willems, the Head of Cooperation for the European Union in Pakistan, remarked during the event, “With EU-funded programs like AP Asia, we can unleash the full potential of startups by combining young talent with expertise and resources. An excellent example of being stronger together!” This sentiment encapsulated the essence of the day—collaboration, empowerment, and the collective drive to build a brighter future through entrepreneurship.
In reflecting on the broader impact, it is clear that the AP Asia project has set a lasting example of how international partnerships, innovative solutions, and inclusive support systems can fuel economic development. Powered by the energy and innovation of women and youth entrepreneurs, the AP Asia initiative has not only transformed individual lives but also helped lay the groundwork for a more sustainable and inclusive entrepreneurial ecosystem in South and Central Asia. The project’s legacy will continue to guide future efforts by Accelerate Prosperity as it works to replicate this success in the years to come.
