Latest news with #PakistanInvestorSummit2025
Business Recorder
26-05-2025
- Business
- Business Recorder
Startups can get up to Rs5m with new acceleration program: NIC Karachi
National Incubation Centre (NIC) Karachi has launched its 'first-ever structured acceleration program' in partnership with Orbit Startups, a Singapore-based investor in emerging markets. According to a press release, through this three-month accelerator, 10 high-potential startups will receive up to Rs5 million in milestone-based grants and training by global experts from Orbit Startups. 'With a young, digital-first population, Pakistan is going through a technology-driven economic transformation,' said William Bao Bean, Managing General Partner of Orbit Startups, which has backed over 300 startups. Govt's Pakistan Startup Fund will help entrepreneurs raise up to $1m, says official 'We're excited to team up with NIC Karachi to bring Orbit's global ecosystem and hands-on support to this next generation of founders who can lead in Pakistan and win globally,' he said, adding that 'we believe Pakistan is one of the most overlooked startup markets in the world, and that's about to change.' The program signals NIC's 'evolution from a startup launchpad to a growth-stage acceleration powerhouse, fully aligned with national economic priorities and global innovation trends,' the release said. 10th iteration of Pakistan Investor Summit kicks off in Karachi The goal of the program is to fast-track companies that are ready to scale, raise capital and create market impact, locally and globally, explained Ali Sohail Tabba, Chairperson Governance Committee NIC Karachi and Director at Yunus Brothers Group. He said the program targets startups that are already showing traction, with revenue models in place and a product in the market. Startups belonging to sectors like fintech, cyber security, industrial automation, agritech, climate tech and logistics are encouraged to apply. Startups will be monitored through a milestone-based evaluation framework developed. All grant disbursements are tied to verified deliverables across business, product and investor readiness metrics. Earlier this month, NIC Karachi hosted the Pakistan Investor Summit 2025 – Summer Edition, where it announced the Pakistan Startup Fund and an initaitive called BridgeStart, aiming at giving startups international exposure. According to a press release, both initiatives 'marks a pivotal step in institutionalizing startup investment infrastructure in the country.'
Business Recorder
21-05-2025
- Business
- Business Recorder
Govt's Pakistan Startup Fund will help entrepreneurs raise up to $1m, says official
The Pakistan Startup Fund, backed by the Ministry of IT & Telecommunication (MOITT), was announced at last week's Pakistan Investor Summit 2025 – Summer Edition, hosted at National Incubation Center (NIC) Karachi. Syed Azfar Hussain, Project Director NIC Karachi, explained to Business Recorder that if a startup raises venture capital money, the government will add funds on top of this to bring the total round to as much as a million dollars. So for instance, if a startup is able to raise $700,000, the government will top this with $300,000. Similarly if someone raises $900,000, the government will add $100,000, he said. 'The government will inject up to 30% of a million dollars,' Azfar explained, 'with 30% being the ceiling and 10% being the floor.' It is hoped 'this will encourage VCs to complete a bigger round for startups,' he added. According to MOITT's website, PSF is aimed at promoting the growth of startups in Pakistan through encouraging investments in Pakistan by global as well as local VC funds. 'The grant is positioned as the final piece of the financial puzzle, providing startups with additional support after after venture capitalists have conducted their due diligence and the startup has secured funding from the private sector, the website states. 'The grant from the Pakistan Startup Fund will only be disbursed to the eligible startup as the 'last cheque' in the ongoing funding round. This means that the startup must secure the full investment from the investor or VC before receiving the fund's grant,' the website explained. Another initiative, called BridgeStart, was also launched at the summit. Azfar explained that it aims to give startups international exposure and help with financing for those that get accepted into incubators and accelerator programmes abroad. According to a press release, both initiatives 'marks a pivotal step in institutionalizing startup investment infrastructure in the country.' 'Hosting the regional launch of the Pakistan Startup Fund and BridgeStart Pakistan in Karachi is not just symbolic, it's a declaration that Karachi's talent and energy are central to Pakistan's innovation future,' said Hussain. Google Cloud Startup Foundry Day Another highlight of the summit was the Google Cloud Startup Foundry Day where Esna Ong, Regional Startup Success Manager, Google Cloud, highlighted the service's growing footprint in Pakistan and its commitment to supporting local startups with tailored cloud solutions, mentorship, and scale-enabling technologies. Meanwhile Kathleen Chiu, Data & AI Specialist, Google Cloud, delivered a deep dive into AI platform Gemini, showcasing how machine learning is transforming startup decision-making and business modeling from the ground up. 'Our collaboration with Google Cloud unlocks global expertise for local entrepreneurs,' said Azfar. 'It bridges the knowledge gap and ensures our startups have access to the best tools and mentorship available anywhere in the world.' Demo day Over 25 emerging ventures - from FinTech and edtech to AI, SaaS, sustainability, and consumer tech - pitched their businesses to local investors at the summit. According to a press release, several investors scheduled follow-up calls and office hours with founders whose pitches sparked interest and alignment. Investor Ashraf Kaleem from Magnus Ventures engaged in discussions with startups including: Atfaal - a startup dedicated to empowering women in the garment industry Biomic - which works on advanced prosthetic technology Blinq - a B2B Fintech, offering services in bill and payment aggregation space Chaajao - digital learning platform Haprow - which has created an educational robot companion for children She6 - a fashion startup that aims to empower women through stylish and affordable hijabs and abayas. One interesting announcement that came post-event was that energy consulting firm ENERLYTICS said it secured a project with PSO Renewable Energy Company (PSORE) for the real-time monitoring of their solar power plant. 'This milestone marks a significant step forward in our mission to accelerate the digital transformation of Pakistan's energy sector,' it said. As part of the project, ENERLYTICS will deploy its energy monitoring platform to provide PSORE with real-time insights, performance analytics, and preventive maintenance alerts for their solar assets. The system will be integrated with payment gateways, enabling energy tracking and billing functionalities — 'setting a new benchmark for smart energy infrastructure in the region.'
Business Recorder
21-05-2025
- Business
- Business Recorder
Govt's Pakistan Startup Fund will help entrepreneurs raise up to $1m
The Pakistan Startup Fund, back by the Ministry of IT & Telecommunication (MOITT), was announced at last week's Pakistan Investor Summit 2025 – Summer Edition, hosted at National Incubation Center (NIC) Karachi. Syed Azfar Hussain, Project Director NIC Karachi, explained to Business Recorder that if a startup raises venture capital money, the government will add funds on top of this to bring the total round to as much as a million dollars. So for instance, if a startup is able to raise $700,000, the government will top this with $300,000. Similarly if someone raises $900,000, the government will add $100,000, he said. 'The government will inject up to 30% of a million dollars,' Azfar explained, 'with 30% being the ceiling and 10% being the floor.' It is hoped 'this will encourage VCs to complete a bigger round for startups,' he added. According to MOITT's website, PSF is aimed at promoting the growth of startups in Pakistan through encouraging investments in Pakistan by global as well as local VC funds. 'The grant is positioned as the final piece of the financial puzzle, providing startups with additional support after after venture capitalists have conducted their due diligence and the startup has secured funding from the private sector, the website states. 'The grant from the Pakistan Startup Fund will only be disbursed to the eligible startup as the 'last cheque' in the ongoing funding round. This means that the startup must secure the full investment from the investor or VC before receiving the fund's grant,' the website explained. Another initiative, called BridgeStart, was also launched at the summit. Azfar explained that it aims to give startups international exposure and help with financing for those that get accepted into incubators and accelerator programmes abroad. According to a press release, both initiatives 'marks a pivotal step in institutionalizing startup investment infrastructure in the country.' 'Hosting the regional launch of the Pakistan Startup Fund and BridgeStart Pakistan in Karachi is not just symbolic, it's a declaration that Karachi's talent and energy are central to Pakistan's innovation future,' said Hussain. Google Cloud Startup Foundry Day Another highlight of the summit was the Google Cloud Startup Foundry Day where Esna Ong, Regional Startup Success Manager, Google Cloud, highlighted the service's growing footprint in Pakistan and its commitment to supporting local startups with tailored cloud solutions, mentorship, and scale-enabling technologies. Meanwhile Kathleen Chiu, Data & AI Specialist, Google Cloud, delivered a deep dive into AI platform Gemini, showcasing how machine learning is transforming startup decision-making and business modeling from the ground up. 'Our collaboration with Google Cloud unlocks global expertise for local entrepreneurs,' said Azfar. 'It bridges the knowledge gap and ensures our startups have access to the best tools and mentorship available anywhere in the world.' Demo day Over 25 emerging ventures - from FinTech and edtech to AI, SaaS, sustainability, and consumer tech - pitched their businesses to local investors at the summit. According to a press release, several investors scheduled follow-up calls and office hours with founders whose pitches sparked interest and alignment. Investor Ashraf Kaleem from Magnus Ventures engaged in discussions with startups including: Atfaal - a startup dedicated to empowering women in the garment industry Biomic - which works on advanced prosthetic technology Blinq - a B2B Fintech, offering services in bill and payment aggregation space Chaajao - digital learning platform Haprow - which has created an educational robot companion for children She6 - a fashion startup that aims to empower women through stylish and affordable hijabs and abayas. One interesting announcement that came post-event was that energy consulting firm ENERLYTICS said it secured a project with PSO Renewable Energy Company (PSORE) for the real-time monitoring of their solar power plant. 'This milestone marks a significant step forward in our mission to accelerate the digital transformation of Pakistan's energy sector,' it said. As part of the project, ENERLYTICS will deploy its energy monitoring platform to provide PSORE with real-time insights, performance analytics, and preventive maintenance alerts for their solar assets. The system will be integrated with payment gateways, enabling energy tracking and billing functionalities — 'setting a new benchmark for smart energy infrastructure in the region.'
Business Recorder
12-05-2025
- Business
- Business Recorder
10th iteration of Pakistan Investor Summit kicks off in Karachi
National Incubation Center (NIC) Karachi's 'Pakistan Investor Summit 2025 – Summer Edition' kicked off on Monday. It is set to feature some 20 high-growth startups, and bring together more than 100 investors, startups, policy makers, and industry professionals, it said in a statement. The idea is to create space for 'strategic partnerships and transformative funding opportunities', it added. According to a post on LinkedIn, the judges of Day 1's Pitch Fest will be 'none other than the NIC Karachi alumni who've walked the founder journey themselves.' This includes Muhammad Ghayas Ahmedani, CEO of Zaaviaa Solutions, Anusha Shahid, Co-Founder of Muhammad Furqan Karim Kidwai, Director of ASF Tech Partners, Aurangzaib Alamgir, Founder of Porter Pakistan, Sidra Shakeel, Co-Founder of Fortify and Mirza Saad Baig, Founder of Rawts. 'These exceptional individuals have built impactful ventures, raised capital and navigated the startup grind and now, they are back to guide the next generation of founders,' NIC Karachi said in its post. It also said that a high-impact roundtable will feature investors, founders and finance experts exploring early-stage investing, portfolio planning, and risk management. The workshop will feature insights from the, COO of YB Holdings on how smart capital is reshaping investment returns and Farhan Bashir Khan, CEO of Alpha Beta Core on understanding investor risk appetite and return expectations. The event is Funded by the Ignite National Technology Fund under the *Ministry of Information Technology and Telecommunication. According to its statement, over the past six years, NIC Karachi has incubated 376 startups across fintech, edtech, healthtech, agritech, and industrial tech. These ventures have raised Rs12 billion in investment, generated RsPKR 10 billion in revenue, and created over 1 million jobs, it said. Syed Azfar Hussain, Project Director of NIC Karachi, said: 'This summit reflects our belief that local innovation deserves global capital. We are building bridges between visionary founders and the investors who can help accelerate their journey.' Summit highlights include:
