SMEs, startups, entrepreneurship

The IT industry of Pakistan has been flourishing since last year. However, the numbers from 2021 were an unbelievable surprise. In 2021 alone, the Pakistani startups have raised $240 million. Dawai, a Pakistani startup, reached $8.5million in investments. Another startup, FinTech, attained $5.5 Million. Since youngsters have taken over the startup market with a storm, business is booming and thriving and the numbers continue to rise. In 2020, Pakistan’s investments reached 66 million. 

The tech industry of Pakistan has gained significant acknowledgment from the government as well. President, Arif Alvi, was part of an event organized by the Paklaunch industry, known as “Pakistani startups: the next big thing”. Many investors and people were a part of this conference where the president stated,” Pakistan is capturing itself in the new digital era”.

Related: Paklaunch to Host Conference on Pakistani Startups

Prime Minister Imran Khan spoke,” Pakistan has huge potential and we are open for business”. Multiple other federal ministers and public figures have assured that the Pakistani tech startup industry; is predicted to improve significantly. 

Since COVID, the country has moved towards digitization rapidly; schools, offices, and registration of systems. NADRA – the most significant office in Pakistan, switched online as ordained by the minister of health. Airlift took advantage of this new market, with more people wanting to stay at home for their safety, delivering groceries, food, and other supplies was a smart decision. Previously AirLift had managed to raise $85 million in series-B financing; as a startup. This new chapter looks promising for Pakistan.

Related: Ignite and JS Bank Collaborate to Support the Young Entrepreneurs of Pakistan