If and when the history of Pakistan’s technology sector is written, 2021 will be a standout year that saw the space emerge from a niche followed only by those working in it to the mainstream, well on Twitter at least. The key reason for that was obviously money finally started pouring in, and not just a handful of million dollars.
Total investment crossed $330 million, making it more productive than all previous years on record combined. Following the dollars came government officials, including the Prime Minister Imran Khan himself, with their congratulatory tweets, either telling us the potential of tech in transforming the country or wherever possible, mooching off some credit. Anyway, that’s what politicians (or military often in our case) do: take credit for positive developments even when they happen despite their policy and blame predecessors when things go south.
Read more: Pakistani startups on a roll as they rake in $120 million in first half of 2021
As for startups, with great money comes greater responsibility. Not just to raise subsequent rounds at higher valuations but to actually scale beyond the posh hotbeds in Karachi, Lahore and Islamabad. Is 2022 finally going to be that year where we see young, home-grown companies achieve that and build a sort of user base the likes of Careem once boasted and Foodpanda currently enjoys? Unfortunately, I am no Saruman with a Palantir.
However, what one can say with a reasonable level of certainty is that the capital...
Read Full Story: https://www.dawn.com/news/1667243
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
