Observer Report Islamabad
2021 has been a remarkable year for Pakistani startups as far as investments are concerned.
In whole of 2020, Pakistani startups had received investment of $77 million whereas in just 8 months of 2021, investments in Pakistani startups have crossed $258 million according to Ignite.
That is a growth of more than 3 times over 2020 with another 4 months still to go. If the momentum continues like this for the next couple of years, annual investments in Pakistani startups can reach billion dollars by 2025.
Speaking at the International Conference on Innovation and Entrepreneurship which had been organized by Federation of Pakistan Chambers of Commerce & Industry (FPCCI), CEO Ignite, Asim Shahryar Husain stated, “Over the last five years or more, government, academia, and industry have launched many incubators which have produced more than a thousand startups in different verticals.
Many of these startups are generating revenue and are ready for acceleration.
When you have leading VCs like Kleiner Perkins and 20VC investing in Pakistani startups, then it means that you are getting ready for the global stage. Pakistani startups are the next big thing and many are ready for acceleration and lift off now.”