Startups raise $300m this year - The Express Tribune

ISTANBUL:
Rising investments in Pakistan’s technology sector show that the country has skilled entrepreneurs, said Minister of Science and Technology Shibli Faraz.
“Pakistani startups have raised around $300 million so far this year,” he said while virtually addressing the Pakistan Tech Summit in Istanbul on Monday. “The government is working to provide an environment where startups can grow and compete.”
According to the minister, startups do not exist in a vacuum and there is a need for Pakistan to make efforts and cover all aspects of the sector to realise the development journey.
Underlining the immense growth potential held by Pakistan’s technology sector, he said that the country had worked towards ease of doing business to invite investment in the sector.
He was of the view that increase in collaboration with Turkish counterparts could accelerate growth of the sector. “It will help showcase Pakistani talent at an international level and nurture the local technology ecosystem.”
Also speaking on the occasion, senior science official from Khyber-Pakhtunkhwa Atif Khan told event participants that the two countries needed to focus on the technology sector.
“Technology gives us the opportunity to get out of geographical boundaries and limitations,” he said. “It allows us to become a global citizen and compete in the international arena.”
The official underlined the need for offering proper training in this regard.
Pakistan’s IT exports rose 47% last year, Khan noted,...

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