Going at full pace with the rise of more startups, transactions and investors, Pakistan’s entrepreneurial ecosystem is growing at the speed of light. As discussed hushly within the Endeavor network, Pakistan is a gold mine that the world may be sleeping on.
Currently, the e-commerce sector of Pakistan is experiencing maximum growth, followed by health tech, finance, and ed-tech sector. Other sectors that have a scope for further improving its position are transportation and the automotive sector along with the agri-tech business.
With its abundance in natural resources, Pakistan has a strong advantage over other countries that need to import natural resources to produce required goods. The effective utilization and exploitation of natural resources helps Pakistan to create a pool of raw-material which is locally available. This hence, helps to bring down the cost of production, where entrepreneurs will be able to innovate and supply beyond demand. Startups and enterprises are also working with the government and educational institutions to make Pakistan’s entrepreneurial scene a modern, worldwide success.
According to research, Pakistan’s economy is growing at a rate of 2.9% since 2007. However, experts claim that it needs to grow by 7% in order to absorb two million tyros in the job market. The dichotomy is clear as water that Pakistan has potential however can the gap between potential and its maximum and effective utilization be attained?
Endeavor Expands To Pakistan
Leading the game, Endeavor is dreaming bigger, scaling faster and paying it forward to the land of aptitude. An entrepreneurship ecosystem is like a macrocosm with several microcosms operating with it. The survival and expansion of this macrocosm in the end, is dependent on how its parts function individually and collectively. Endeavor is looking into creating an environment which is conducive to entrepreneurs where his/her companies’ success follows. Endeavor is augmenting our efforts to elevate the entrepreneurial ecosystem in Pakistan where effective utilization can be attained.
Pakistan is one of the last untapped economies in the world with the fifth largest population and an emerging ecosystem of tech entrepreneurs who are passionate and hungry to make an impact. Endeavor PK will work with founders and companies that have passed through the initial start-up phase and demonstrate the potential for rapid expansion and scale. Several founding Endeavor Pakistan board members, along with Endeavor’s Head of Expansion attended Pakistan’s Future Fest to announce the expansion. Endeavor Pakistan is anchored by a strong founding Board of Directors, including Ali Mukhtar (Founder and GP of Fatima-Gobi Ventures), Amir Paracha (Chairman & CEO of Unilever Pakistan), Mudassir Sheikha (Co-Founder & CEO of Careem and an Endeavor Entrepreneur), Osman Rashid (Chairman & CEO of Convo SOAR Schools & Khoj Resorts) and Tania Aidrus (Co-founder of Rayn Group). The operation of the Endeavor Pakistan office will be self-funded by its Board of Directors, with a long-term funding plan.
Leading the office there, we will have Ali Samir Oosman as the Managing Director of Endeavor Pakistan! Ali has held a number of leadership positions across Pakistan and MENA. In his last role, he led strategic partnerships and deal flow for the global Microsoft for Startups Program (Founders Hub) across 10 countries in MENATP. Furthermore, he led partnership engagements with key ecosystem stakeholders which included regional VCs, Hub71, Intelak Hub, 500 Global and accelerators/incubators to drive startup deal flow across the region and support founders with Microsoft’s programmatic benefits.
At Endeavor PK, Ali will work with high-potential founders and companies that have passed through the initial start-up phase and demonstrate the potential for rapid expansion and scale. Endeavor Pakistan will be Endeavor’s 40th office to launch since its founding year in 1997. Endeavor has helped 2,286 entrepreneurs build 1,420 companies in 40 markets throughout North America, Latin America, Asia, the Middle East, Africa, and Europe. To date, companies led by Endeavor Entrepreneurs have created 3 million jobs in their local economies and often go on to mentor and invest in the next generation of founders. They operate in a wide range of industries, including enterprise software and services, fintech, food & beverage, education, healthcare, agriculture, retail and consumer tech, and smart cities.
Entrepreneurs interested in learning more about Endeavor Pakistan can visit endeavor.org or contact us at email@example.com.