Richie Rich! This man is getting rich day by day. Yes! I am talking about Bill Gates. And the hot news for today is that he is going to be World’s first trillionaire by 2042.

Oxfam announced that the Microsoft co-founder Bill Gates is most likely to become trillionaire by 2042.

Oxfam is an international organization that is working to alleviate global poverty. According to a report by the organization, in coming 25 years we our most likely to get the world’s first trillionaire.

And Gates is the one, who is the lucky person. He is on the top of the richest people since years now and his wealth seems to grow.

If the investments of Bill Gates continued to get 11% of profit, as nowadays, than in next 25 years we will need to introduce him a a trillionaire.

Forbes is of the view, “the tech-genius can certainly become the world’s first trillionaire. ”

Bill Gates has left Microsoft since 2006. At that time his worth was $50 billion. To the date, the worth has increased by $25 billion and has become $75 billion.  He is also a great charity worker . He is part of successful setups like Giving Pledge. Giving Pledge is a group of rich individuals that have taken oath to give half of their worth to poor. Still he has managed to remain on top for years now.

According to the report by  Oxfam,

“In such an environment, if you are already rich, you have to try hard not to keep getting a lot richer. The super-rich can achieve returns that are not available to the ordinary saver, helping the gap to grow between the wealthy and everyone else. The bigger the initial investment, the higher returns one can make as the initial costs of sophisticated advice and high-risk investments can be justified with the potential for super-lucrative returns.”

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Just a couple years back, development of entrepreneurs in Pakistan was difficult. To access mentors, business trainers and investors was not so easy for startups.

Now, however, the whole scenario has changed and startup founders have a choice to get incubation. There many Incubators and accelerators in the country making an impact on Tech industry of Pakistan.

Plan9

Punjab government Initiative, based in Lahore, Pakistan initially started in August 2012. Plan9 offer 3 month program to all startups in which it provides free office space, consultancy and mentoring. Another good thing, they don’t take any equity. Plan 9 has incubated more than 102 startups till now, and the numbers are increasing.

The Nest i/o

Based in Karachi, Associated with Pakistan Software House Association (PASHA), The Next i/o is a technology incubator launched in early 2015. The Incubator provides free office space and mentorship, while they are not taking any equity.

LUMS Center for Entrepreneurship

The LUMS Center for Entrepreneurship (LCE) is a tech incubator associated with the LUMS (Lahore University of Management Sciences), Pakistan’s topnotch university based in Lahore. The Incubator has four month program where it provides, free office space, counseling, mentoring and many other benefits.

It does take a small equity percentage for each startup accepted into the program.

i2i (invest2innovate)

Started in 2011, Based in capital city Islamabad, i2i (invest2innovate) is an accelerator for early and mid-stage startups looking to make a social impact. The program is spread over four months but it does not require startups to be present in-house. It has option of working remotely. Invest2Innovate features a total six in-person sessions spread across many cities in Pakistan. They take equity in the range of 1.5 to 3 percent from each startup accepted into the program.

PlanX

PlanX is the largest tech incubator in the country, also sister incubator of Plan9 (Initiative of PITB (Punjab Information Technology Board) Pakistan. Located in Lahore, program is six month longer but provides continuing support, free space and consultancy to mid-stage startups without taking equity.

Microsoft Innovation Center

The Microsoft Innovation Center primary concern to utilize technical skills by using Microsoft tools, It has programs in both Lahore and Karachi. Microsoft Innovation Center offers accepted startups a wide range of free Microsoft enterprise software products. And also provides coaches and mentoring to each startup.

Technology Incubation Center

The Technology Incubation Center is an initiative of the National University of Science and Technology (NUST), located in Islamabad. As its associated with technology university, most of the startups housed in the incubator have a focus on hardware, engineering, and big data.

It also offers startups free office space and mentorship, taking a small equity percentage in return.

DotZero Ventures

DotZero ventures started in August 2013. They are budding entrepreneurs and startups. It provides 24×6 space, mentoring and networking. It has raises funding for tech startups.

Its founding members recently launched an angel investment fund to encourage the growth of the investment landscape in Pakistan.

Basecamp

Basecamp operates an invite-only co-working facility based in Peshawar. There are a number of events, including Startup Weekend Peshawar and TEDx Peshawar, and it hopes to promote entrepreneurship through community-led efforts. KPK is lucky by having such kind of incubators.

Founder Institute

The Silicon Valley-based entrepreneur training and startup launch program, operating a local chapter in Karachi and Islamabad.

Founder Institute program structured over three and a half months, with startups meeting once a week. Each startup must contribute 3.5 percent equity to an “options pool” and pay a one-time fee of US$250 to be accepted.

Nspire

Founded in May 2015, A private tech incubator started by NetSol , A leading  software company in Pakistan. Recently many startups incubated in Nspire and going to be launch soon this year.

Tech Incubator

Located in Lahore, they claimed to be first privately-managed incubator in Pakistan. It functions on a rolling basis, accepting startups all year round.

The tech incubator takes a big amount of equity, though. Startups have to part with 10 percent just to use its co-working space and a lot more if they wish to get mentoring, consulting, and potential investment.

WeCreate Pakistan

WeCreate Pakistan is an entrepreneurial community center exclusively for women looking to start or expand an existing business. The program based over 15 weeks and is backed by the US Department of State.

Telenor Velocity

Velocity is Telenor Pakistan’s initiative. The digital incubator selects startups from their network partners, who are usually other incubators, and help the selected startups get access to market, distribution, payment gateways etc.

Jazz’s ‘National Incubation Center

Mobilink and TeamUp to Setup National Incubation Center in Islamabad,  under the National ICT R&D Fund and will be aligned with the government’s vision of a Digital Pakistan. The service provider Teamup will run this incubation under the direct guidance of Zouhair Khaliq and Parvez Abbasi leveraging mobilink’s connection and resources.  Mobilink has collaborated with LUMS Center for Entrepreneurship (LCE) to provide support and mentorship.

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The man behind most successful software company in Pakistan

If you know anything about Pakistan’s tech circles then the name Salim Ghauri has probably crossed your ears more than once. As the CEO and Founder of successful software company Netsol, he possesses decades of experience working in the IT industry. This entrepreneur founded the company in 1995 and to this day it is one of the most successful software development firms in Pakistan.

But like many others, Salim did not experience instant success. His journey required arduous testing times and he used some unconventional methodologies to make his way to the top. Salim’s ascension into the higher parts of the tech ecosystem is the result of years of hard work.

Salim returned to his home country after working as an IT consultant in Australia with a plan and an idea. His beginnings were humble; his team composed of a meager four people whole together in a small room in Lahore. But despite this, Salim had big plans. Grand ideas and ambitions.

Smooth Sailing

In the 1990’s, the Internet was still a thing of fantasy in Pakistan at least, but there was growing interest in it. For Salim, getting clients on board with his ideas was a difficult task to accomplish, but he embraced the challenge wholeheartedly.  With no sales team the first five years of his business, he had to reply on his own charisma to build a good rapport with potential clients. His work paid off and Salim got his first breakthrough after a Germany luxury car manufacturer signed with Netsol in 1991 for enterprise solutions for its finance department.

Salim’s first deal proved to be just what his company needed to get itself off the ground. This contract gave him a unique opportunity to get to know the customer’s psyche and focus on building solutions that suited the client’s particular needs.

By the time 2000 rolled around, Netsol signed a USD $2 million dollar contract. It was another big break and another success for Salim, as more and more companies began to be impressed with Salim’s work and ability to deliver what they needed.

However, a combination of unfortunate and tragic events like the 9/11 terrorists attacks and the dotcom crash in 2001 meant bad news for Salim. Companies were wary of working with a company considered to be the home of terrorists. Consequently, Salim was told to move his firm to another country in Southeast Asia, like the Philippines, for that very reason. But Salim stuck to his guns, intent on building a world-class company from Pakistan despite his fears and uncertainty about what the future held for his firm.

Captivating a niche market

In the middle of the 2000’s, Netsol decided to focus on products. Prior to that point, the firm possessed and provided a wide variety of services, such as software, call centers, and business process outsourcing. But for the aim of creating a strong, recognizable brand and boost the value of the firm worldwide, Salim realized he needed to license and market Netsol’s own products.

While this new idea was taking shape, he obtained a certification for quality standards. After gaining the capability maturity model integration (CMMI) certificate, the company was vaulted to success, joining the upper ranks of society. CMMI Level 5 is the highest level a company can reach and Pakistan’s successful software company Netsol did just that in 2006. It has been obtained by less than 150 companies around the globe, according to the firm.

Multiple IPOs

Netsol was now in front of the world and people were watching them positively. Both NASDAQ and the Karachi Stock Exchange (now known as the Pakistan Stock Exchange) listed Netsol, and they now had a huge roste of clients. They had their “foot” in Japan, Thailand, Croatia, China, and Australia and had over the years been able to keep many automobile manufacturing firms loyal to them.

Today, the company excels in its production of enterprise products Mobility and Ascent. They focus in leasing sectors and financial services, aiding companies in making smart business decisions that can benefit them.

Last month, Netsol got a huge deal in the amount of USD $100 million dollars with a firm. Salim would not reveal the name of the company, but did admit it was an existing client, and a multinational firm that has plans to upgrade its systems in twelve countries. For Pakistan’s tech industry, these kind of contracts are completely unheard of.

Prior to this deal, Netsol’s largest contract was in the amount of USD $20 million contract for a company in Thailand.

What’s next for Netsol?

Just like Infosys and other IT firms help create the current group of budding tech entrepreneurs in India, Netsol strives do the same thing in Pakistan. This successful software company is dedicated to speeding up this process as much as it can and aims to help up and coming entrepreneurs take advantage of its global connections and reach, while giving them access to much needed mentors and free office space.

Salim desires to help entrepreneurs who have ideas they believe can impact the world. He doesn’t specify what exactly catches his attention, but it’s clear he desires to be more than just an investor.

As for Netsol, Salim is continuing to accelerate its growth in the next months and even years. Despite its slow start and growth, he’s seen unprecedented success. Overall, he is optimistic about the bright future of Pakistan’s IT industry and looks forward to seeing in grow in the new several years.

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