Invest2Innovate’s entrepreneurship ecosystem report looks at the challenges mounting for startups
It’s been a little over three months since the year 2022 started and Pakistan’s startups have announced raising investments worth $130 million. Just yesterday, B2B startup Bazaar announced a hefty $70 million raise in Series-B round. The momentum seems to be steady for startups after a joyous year, and as startups enter into a new stage of growth, new challenges mount. A recently launched “Pakistan Entrepreneurship Ecosystem Report 2021” by venture capital and insights firm Invest2Innovate (i2i) discusses what these new challenges look like.
According to Kalsoom Lakhani, the co-founder and general partner at i2i, initial challenges for startups were an overall lack of funding, no support space and lack of regulations. “That’s changed now for the better,” says Kalsoom. As the startups enter a new phase of growth, the ecosystem has to worry about new problems that come at this stage. Lack of access to growth stage capital, for instance.
Pakistan had an exceptional last year, with startups collectively raking in $352 million in 2021. This amount is exceptional in a seven year context: since 2015, Pakistan’s startups have in total raised $563.5 million. A multitude of factors explain last year’s boom: Pakistan is the last big untapped market for foreign venture capital investments which peaked globally last year; increasing cell phone and broadband penetration accelerated growth...
Read Full Story: https://profit.pakistantoday.com.pk/2022/03/16/whats-ahead-for-pakistans-startup/
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