Pakistan’s IT and IT-enabled services sector recorded $2.97 billion in export inflows during July to February FY2026, marking a 19.6% year-on-year increase. However, a steady drop in monthly receipts over the past two months has tempered expectations around the government’s $5 billion annual target.

IT Exports Hit $2.97 Billion in July to February FY2026

According to data from the State Bank of Pakistan (SBP), Pakistan’s ICT export earnings grew by 19.78% year-on-year, reaching $2.61 billion in the first seven months of the current fiscal year ending June 2026, up from $2.18 billion during the same period last year. Cumulative inflows reached $2.97 billion by the end of February 2026, compared with $2.48 billion in the same period of FY2025.

IT exports now account for over 10.8% of Pakistan’s total exports. This is considered a historic milestone, reflecting the country’s gradual economic shift from traditional goods like textiles and rice toward high-value digital services.

Monthly Receipts Show a Two-Month Decline

Despite the cumulative growth, monthly figures reveal a softening trend. The sector peaked at $437 million in December 2025, before declining to $374 million in January 2026 and $365 million in February 2026, a drop of over 16% in just two months.

Analysts project exports to grow 18 to 20% in FY2026, which could bring the total to around $4.5 billion. This figure still falls short of the ambitious $5 billion target set under the government’s national economic plan, Uraan Pakistan. At the current monthly run rate of approximately $365 million, full-year IT exports are likely to plateau around $4.4 to $4.5 billion.

Geopolitical and Regional Pressures Add Uncertainty

The slowdown in monthly inflows is partly attributed to broader global uncertainty. Ongoing regional tensions have prompted clients, particularly across the US and GCC markets, to delay digital transformation and expansion projects. This has reduced near-term order flow for Pakistani IT firms.

The growing tendency of international companies to outsource software development, cybersecurity, and digital transformation projects has boosted Pakistan’s profile as an affordable IT services provider. Even so, regional instability continues to introduce uncertainty into forward planning for many of these engagements.

Beyond export figures, Pakistan’s broader startup ecosystem reflects a market in a phase of cautious maturation, with genuine momentum tempered by structural funding constraints.

Ecosystem Value Surpasses $4 Billion

Pakistan’s venture capital-backed startups have surpassed a combined enterprise value of $4 billion, up 3.6 times since 2020, according to the January 2026 Pakistan Tech Report by Dealroom.co and inDrive. The growth rate outpaces larger ecosystems including India, New York, Paris, and Dubai, placing Pakistan among emerging “New Frontier” tech markets.

The country now hosts over 170 VC-backed startups, with roughly 17 “breakouts” that have raised between $15 million and $100 million, two scale-ups that have crossed $100 million in funding, and 13 “Colts” generating between $25 million and $100 million in annual revenue.

According to TechList Pakistan, which tracks startup funding activity across the country, deal flow in early-stage rounds, particularly pre-seed and seed, has remained consistent through Q1 2026. Fintech, healthtech, and B2B SaaS have emerged as the three most active verticals during this period.

Startup Funding Rebounds in 2025

Pakistani startups secured over $74.23 million in equity and hybrid financing in 2025, spanning pre-seed, seed, and Series A rounds across fintech, mobility, healthtech, and other sectors. According to Data Darbar, local startups raised about $36.6 million in equity across 10 disclosed rounds, a modest increase from $22.5 million the previous year, though deal volume slipped slightly from 15 to 14 transactions.

Fintech and Healthtech Lead Investment Activity

The fintech sector continues to dominate investment activity, with startups such as Haball and Metric securing sizeable Pre-Series A and seed funding rounds. Analysts say fintech’s appeal lies in its ability to integrate with banking infrastructure, simplify payments, and tap into an underserved market of SMEs and digital consumers.

Haball secured a $52 million Pre-Series A funding round led by Zayn VC and backed by Meezan Bank. The company has scaled its platform to handle over $3 billion in payments, disbursing more than $110 million in financing while supporting thousands of SMEs and multinational clients.

Healthtech is emerging as the second major growth engine. MedIQ’s $6 million Series A and Xylexa’s $1 million seed round highlight strong investor appetite for solutions that address healthcare accessibility, a critical need in a country of over 240 million people.

No Unicorns Yet: The Capital Gap Remains

Despite the momentum, no Pakistani startup has yet reached unicorn status or surpassed $100 million in annual revenue. Limited domestic capital is widely identified as the primary bottleneck holding the ecosystem back from the next level of scale.
Globally, venture capital investment reached $512.6 billion in 2025, up 30.8% from 2024, with artificial intelligence alone accounting for $270.2 billion. For Pakistan, these global trends highlight the structural challenge of competing in capital-intensive sectors like AI without matching infrastructure or investment scale.

Female-Founded Startups Gain Ground

One of 2025’s notable trends is the rise of female-led startups, which raised $8.8 million in disclosed equity, accounting for more than 24% of total funding. Startups including Shadiyana, BusCaro, Metric, MedIQ, and Lean Outset were among the female-founded or co-founded ventures contributing to this shift. TechList Pakistan has closely documented this trend through its founder coverage and funding trackers.

Policy Reforms Supporting Export Growth

The State Bank of Pakistan raised the permissible retention limit in Exporters’ Specialised Foreign Currency Accounts (ESFCA) from 35% to 50%. This allows IT exporters to retain a larger share of their dollar earnings, a reform that has provided greater liquidity for companies reinvesting in global operations.

Pakistan’s 5G spectrum auction, conducted in March 2026, is expected to unlock new product categories in healthtech, edtech, IoT, and industrial automation that have remained structurally inaccessible on existing infrastructure. Building quality talent, empowering grassroots entrepreneurship, and accelerating local AI adoption are identified as the three pillars needed to position Pakistan as a competitive global IT export hub.

Long-Term Target: $10 Billion by 2029

National long-term targets foresee $10 billion in annual IT exports by 2029, a goal that requires a significant acceleration from the current growth trajectory. IT exports now constitute over 40% of Pakistan’s total services exports, supporting foreign exchange stability, high-value employment, and entrepreneurship. This cements the sector as a core pillar of Pakistan’s broader economic strategy.

Closing the gap between the current pace and the $5 billion FY2026 target will require reversing the recent monthly decline, broadening client geographies beyond the US and Gulf, and continuing to scale startups into globally competitive businesses. The structural groundwork is being laid, but sustained execution remains the sector’s defining test going forward.

Sources: State Bank of Pakistan (SBP), Ministry of Information Technology and Telecommunication, Data Darbar, Dealroom.co / inDrive Pakistan Tech Report (January 2026), Topline Research, Pakistan Software Houses Association (P@SHA), TechList Pakistan.

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In a landmark moment for Pakistan’s startup ecosystem, Myco, the country’s fastest-growing video streaming platform, has clinched the top spot in Season 9 of Meet the Drapers — a global startup reality show hosted by legendary Silicon Valley investor Tim Draper.

The win comes with a Rs420 million ($1.5 million) package — comprising $500,000 in equity investment and a $1 million SaaS services contract — making it the highest outcome achieved by any startup in the season.

This marks the first time a Pakistani-origin startup not only reached the finale but also emerged as the leading winner in the show’s history. Myco was selected from over 2,000 startups worldwide.

From Pakistan to the World Stage

The journey began when Paklaunch founder Aly Fahd convinced Tim Draper to dedicate an episode to Pakistani startups in October 2024 — a first in the show’s nine-season run. Out of multiple local contenders, Myco stood out, progressing through the semi-finals as the most-voted global startup and a fan favorite.

The finale was filmed in California in April 2025, followed by an intensive due diligence process. The deal was finalized in July 2025.

A Silicon Valley Endorsement

Tim Draper — known for early bets on Tesla, SpaceX, Skype, Coinbase, and Baidu — praised Myco’s innovative blend of storytelling, sports, and Web3 economics, calling it “the future of streaming.”

“Myco is one of the top Pakistani startups that PakLaunch has enabled within our network over the past three years,” said Aly Fahd. “This achievement proves the quality of Pakistani entrepreneurs on the global stage.”

Myco’s Rise and Reach

Founded in the UAE in 2021 by Umair Masoom, Myco has rapidly grown into a 20 million-user platform in just 18 months in Pakistan alone.

The platform offers more than cricket — although it holds rights to ICC events, PCB, PSL, and English Premier League — expanding into sports like MMA, Karate Combat, Padel, Squash, and Volleyball, alongside university and local tournaments.

Key Stats:

• 20M+ users in Pakistan within 18 months

• 100M+ monthly video impressions

• Active users in 100+ countries including UAE, KSA, Egypt, and North America

• Backed by Aptos Labs for its Web3 wallet and reward token system

• Targeting 50M+ users by end of 2025

Next Steps

With the new funding and SaaS deal, Myco plans aggressive expansion into North America, MENA, and South Asia, deepen its sports partnerships, launch its Watch & Earn rewards token, and form fintech alliances to drive creator and user monetization.

About PakLaunch

Founded in 2020 by Aly Fahd, PakLaunch is a global community of 350,000+ members in over 30 countries, connecting the Pakistani diaspora with local startups, investors, and global markets. It runs events such as the Paklaunch Unconference and digital accelerator programs.

About Myco

Myco is a Web3-powered video streaming and sports media platform combining premium sports rights, entertainment, and creator monetization. Its Watch & Earn ecosystem rewards users for their attention, bridging the gap between content consumption and real-world value.

Following its Meet the Drapers victory, Myco is positioning itself to become the world’s leading Web3 entertainment super app — where content meets commerce.

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The rise of startups in Pakistan brought hope for innovation and economic growth. However, many promising ventures have shut down. What causes these failures? We will explore the downfall of 4 notable Pakistani startups. By examining their journeys, we will discuss common pitfalls and valuable lessons for future entrepreneurs. Dive into the challenges and insights behind these closures.

4 Pakistani Startups That Failed

In Pakistan, numerous ventures started and thrived, only to eventually fail. The reasons behind their failure included a lack of funds and poor allocation, lack of transparency between founders and investors, poor business and revenue models, inaccurate forecasts, weak supply chains, and much more.

Here are top 4 startup failure stories. They provide lessons to entrepreneurs who plan to launch their ventures. The stories offer insights into the common pitfalls and challenges faced by startups. They help entrepreneurs make informed decisions as they start and grow a business.

1. Airlift

Airlift Express Team

Airlift set out to revolutionize urban transportation in Pakistan when it launched in 2019, founded by Usman Gul, Ahmed Ayub and Meher Farrukh. Focused on offering a reliable bus-hailing service, it targeted customers seeking an alternative to traditional public transport. With its efficient service and user-friendly app, Airlift swiftly gained popularity, making commuting easier for many people in major cities like Lahore and Karachi.

Transitioning to Quick Commerce

The challenges brought about by COVID-19 significantly impacted public transportation services. In response, Airlift strategically shifted its focus from transportation to quick commerce (Airlift Grocer). This involved delivering groceries and essential goods directly to customers’ doorsteps, with a promise of delivery within 30 minutes. Leveraging their existing logistics network, the aim was to capitalize on the surging demand for online shopping and home delivery.

Funding Success

Airlift’s pivot attracted significant investor interest. The company raised over $85 million in funding from global investors. This capital influx let Airlift expand. It lets them build a strong infrastructure and grow across cities. Investors like First Round Capital and Indus Valley Capital led the funding round. It was one of the largest in Pakistan’s startup history.

Operational Challenges

Despite its initial success, Airlift faced several operational challenges. The quick commerce model required a vast inventory of products. It also required managing complex logistics and ensuring timely deliveries. High operational costs became a significant burden. The need for many vehicles, many warehouses, and much manpower added to the expenses.

Market Competition

Airlift’s quick commerce (Airlift Grocer) venture entered a competitive market. Daraz, GrocerApp, and many local stores established themselves. They had already captured much of the market. Airlift had to compete with these giants. This needed not only lots of money but also a unique value proposition. But Airlift often failed to deliver one.

Pakistan’s economic situation further exacerbated Airlift’s challenges. Rising inflation, currency depreciation, and fluctuating fuel prices increased operational costs. These economic pressures made it hard for Airlift to keep its low-cost promise. They also had to ensure profitability.

Closure and Aftermath

In July 2022, Airlift announced its decision to shut down its operations. The company cited two main reasons for its closure. They were a lack of lasting funding and rising costs. However, when its main investor withdrew support, Airlift found itself without the necessary funds to continue operating, leading to its sudden closure. The shutdown led to big layoffs. It affected hundreds of employees. They had been part of the company’s journey.

Lessons Learned

Airlift’s story offers several important lessons for startups:

• Transitioning can be smart. But it needs thorough market research and a solid plan.
• Controlling costs is crucial. This is especially true in high-burn business models.
• Having a competitive edge is vital. It means standing out from established competitors. This is the key to gaining and keeping market share.
• Startups must be ready for economic changes. These changes can impact their operations. Covid-19 was one of the reasons behind their failure.

2. CarFirst

Launched in late 2016, CarFirst operated as a mediator, purchasing cars from consumers and then selling them to dealers through online auctions, following a classic consumer-to-business-to-business model.

The online platform streamlined the process for car sellers, allowing them to get their cars inspected and sold within an hour, including the time taken for payment processing. CarFirst’s online auction platform for used cars also included an app, which provided partners and a network of buyers with a convenient way to find the cars they needed.

The Vision of CarFirst

CarFirst set out to make the used car transaction process simpler. They did this for both sellers and buyers. CarFirst aimed to remove the hassles of selling used cars the old way. They did this by offering instant quotes, free inspections, and quick payments. The company’s goal was to create a trustworthy, efficient marketplace.

Initial Success and Growth

CarFirst gained traction due to its innovative approach. The company set up a network of inspection centers. They expanded to major cities in Pakistan like Karachi, Lahore, and Islamabad. Customers could bring their cars for a free inspection. They would get an instant offer and get paid within hours if they accepted it. This convenience and transparency appealed to many car owners. They wanted to sell their vehicles without the usual delays and uncertainties.

Funding and Expansion

CarFirst attracted significant investment from both local and international investors. The company raised a lot of money in many investment rounds. This money let the company expand. It improved its technology and increased its marketing. The funding let CarFirst grow its network of inspection centers. It also lets them improve their services.

Operational Challenges

Despite its initial success, CarFirst faced several operational challenges. Scaling the business required big resources. They were for managing many inspections. They were also responsible for maintaining a logistics fleet and ensuring good customer service. Operations became more complex as the company expanded. This made it hard to keep them efficient and profitable.

Market Competition

The used car market in Pakistan is competitive and fragmented. CarFirst faced stiff competition. It came from traditional dealerships, informal networks, and other online platforms. These competitors had deep customer connections and local market knowledge. This made it hard for CarFirst to get and keep market share.

Economic Factors

Pakistan’s economic conditions played a critical role in CarFirst’s struggles. The country had economic instability. Inflation, currency loss, and changing interest rates hurt consumer spending power. These economic factors led to a decline in car sales. This decline affected CarFirst’s business volume and profitability. Also, the costs of importing car parts and running a large network increased. This strained the company’s finances more.

Trust and Transparency Issues

Building trust was hard. Traditional dealers and informal networks dominated the market. CarFirst worked to be fair and clear. But, it had to keep working to gain trust and overcome doubt. Ensuring consistent quality in inspections and offers was critical. But, any differences or bad customer experiences could erode trust.

Closure and Aftermath

In October 2021, CarFirst announced its decision to stop operations in Pakistan. The company cited economic challenges as the main reason for its closure. They also cited operational inefficiencies and intense market competition. The shutdown led to the closure of inspection centers. It also led to layoffs. It left many customers looking for other places to buy or sell their cars.

Lessons Learned

CarFirst’s journey in Pakistan provides several important lessons:

• Operational Efficiency: Scaling operations in a complex and competitive market requires careful planning. It also requires managing resources well.
• Market dynamics are key. Understanding local markets and customers is crucial. It helps in gaining and retaining market share.
• Economic Adaptability: Building resilience against economic fluctuations can help startups navigate challenging times.
• Building and keeping customer trust is essential for long-term success. It requires continuous work.

3. Cheetay

Cheetay, launched in 2015 by brothers Ahmad Khan and Majid Khan, made its mark as a well-known startup in Pakistan. Initially established as an online food delivery platform, Cheetay quickly found itself in competition with industry giants like FoodPanda. However, the company expanded its scope over time, venturing into the realm of grocery delivery, a move that gained significant traction, particularly during the COVID-19 pandemic.

Evolution of Services

As the demand for groceries surged, Cheetay initially employed a dropshipping model, facilitating the direct delivery of goods from stores to customers’ homes. Subsequently, the company pivoted to a quick commerce model, establishing dark stores to expedite deliveries and enhance overall customer experience.

Funding Milestones

In April 2021, Jabberwock Ventures, the parent company of Cheetay, secured $20 million in Series-B funding, underscoring investor confidence in the startup’s potential. While there were rumors of a larger investment specifically allocated for Cheetay Logistics, it was clarified that the funds were intended for all startups under Jabberwock Ventures, rather than solely for Cheetay Logistics.

Operational Challenges and Tough Decisions

Despite initial successes and significant investments, Cheetay found itself at a critical juncture after three years of operations. Facing operational challenges and economic headwinds, the company made the difficult decision to wind down its operations. This decision was precipitated by the inherent challenges associated with Quick Commerce’s high-burn business model and the limited demand for immediate grocery services.

Market Dynamics and Competition

Cheetay also encountered stiff competition in its restaurant aggregation business, particularly from FoodPanda, backed by substantial funding from DeliveryHero. The intense competition, coupled with economic uncertainties, exacerbated Cheetay’s struggles, ultimately leading to the cessation of its food delivery operations and the impending closure of all its services, including quick commerce.

Lessons Learned

The journey of Cheetay offers valuable lessons for startups:

• Operational Efficiency: Scaling operations in a complex and competitive market requires careful planning and resource management.
• Understanding Market Dynamics: Gaining insights into local markets and customer preferences is crucial for gaining and retaining market share.
• Economic Adaptability: Building resilience against economic fluctuations can help startups navigate challenging times.
• Trust and Transparency: Establishing and maintaining trust with customers is essential for long-term success and requires continuous effort and commitment.

4. Jugnu

Jugnu, a Pakistani startup founded in 2019 by ex-Unilever executives Sharoon Saleem and Yasir Suleman Memon, ventured into B2B e-commerce with the aim of digitizing and empowering small retailers. Building on their experience with Salesflo, a retail automation tool, the founders envisioned Jugnu as a platform to streamline inventory management and access to capital for retailers.

Vision and Services

Jugnu’s platform provided retailers with the tools to order and manage their inventory, offering a wide range of products from various suppliers. The startup’s services aimed to simplify supply chain management and enhance retail efficiency.

Funding and Expansion

With a total funding of $25.7 million across three rounds, including a significant Series A round of $22.5 million led by MENA-based e-commerce marketplace Sary, Sarmayacar, and Systems Limited in March 2022, Jugnu experienced rapid growth. At its peak, the startup had onboarded over 30,000 retailers across Islamabad, Rawalpindi, and Lahore.

The Downfall

Despite substantial funding and initial success, Jugnu encountered numerous challenges that ultimately led to the cessation of its core operations:

1. Investor Withdrawal: A significant setback occurred when an investor withdrew support from Jugnu, leading to financial difficulties that proved insurmountable.
2. Profitability Hurdles: The FMCG sector’s slim profit margins and high operational expenses posed significant challenges for Jugnu’s profitability.
3. Internal Mismanagement: Internal inefficiencies and mismanagement resulted in notable losses in inventory, primarily due to internal theft.
4. Work Culture Issues: Former employees highlighted a toxic work culture and unprofessional conduct from senior management as contributing factors to Jugnu’s downfall.

Transition and Closure

In response to these challenges, Jugnu announced a pivot away from its self-managed fulfillment centers, logistics, and inventory model. Instead, the company planned to leverage its tech and data suite to facilitate commerce and financial inclusion. However, this transition resulted in layoffs and ultimately led to the shutdown of the startup.

Lessons Learned

The story of Jugnu underscores the volatility of the startup landscape, where external factors like investor sentiment and internal issues such as management and efficiency play significant roles. Jugnu’s closure serves as a poignant reminder of the importance of sustainable business practices and the need for startups to adapt to shifting economic realities.

Conclusion

The stories of Airlift, Cheetay, and CarFirst highlight the blend of innovation and potential inherent in Pakistani startups, alongside the multitude of challenges they face. These ventures underscore the importance of adaptability, cost management, and a deep understanding of market dynamics. Economic instability, fierce competition, and regulatory hurdles often pose significant obstacles to their success.

Despite receiving substantial funding and experiencing strong initial growth, these startups ultimately succumbed to a myriad of operational issues and external pressures. However, their closures offer valuable lessons for future entrepreneurs.

Future startup founders can glean important insights from these failures, emphasizing the necessity of establishing a robust business model, differentiating themselves from competitors, and remaining prepared for economic fluctuations. While the closures are undoubtedly disappointing, they provide invaluable lessons that can guide future startups towards success in Pakistan’s dynamic startup landscape.

Achieving success in Pakistan’s startup ecosystem necessitates meticulous planning, meticulous execution, and a steadfast focus on addressing market needs. By internalizing the lessons learned from these closures, future startups can navigate the challenges more effectively and increase their chances of long-term viability and success.

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Google Launchpad Accelerator now open to Pakistani startups

Google has open up the Launchpad Accelerator platform for to interact with the developers who with all the efforts are trying to solve the technology problems and sorting out major challenges all around the world.

It has opened the doors for the developers who have been streamlining digital commerce across Africa, providing access to multimedia tools that support special needs education, or using AI to simplify business operations.

The joined efforts are leading to the great opportunities and fruitfully the results are evident. The program launched is now open for its next class and it has offered more countries to join in. The list of countries who have been offered to send their developers for the new class of program is shared below:

• Asia: Bangladesh, Pakistan, Sri Lanka & Myanmar
• Central and Eastern Europe: Estonia, Romania, Ukraine, Belarus & Russia
• Latin America: Costa Rica, Panama, Peru & Uruguay
• Africa: Algeria, Egypt, Ghana, Morocco, Tanzania, Tunisia & Uganda

There are countries who are already the part of the running Google Launchpad Accelerator program. These countries include Argentina, Brazil, Chile, Colombia, Czech Republic, Hungary, India, Indonesia, Kenya, Malaysia, Mexico, Nigeria, Philippines, Poland, South Africa, Thailand, Vietnam and the Czech Republic.

The deadline for the application submission is  October 2, 2017, at 9 PM Pakistan Standard Time.  After reviewing the applications the developers will be shortlisted and selected. These shortlisted developers will be than called to Google Developers Launchpad Space in San Francisco for 2 weeks of all-expense-paid training.

What are the benefits?

It is the best platform to interact will the people o mutual interests. This will help widen the imagination and develop skills. It will bring an opportunity to interact with the  expert mentors from top technology companies and VCs in Silicon Valley. The participants work closely with Google under observation of experts throughout their stay.

Hear from some alumnus about their experiences here.

What does Google look for when selecting startups?

There are always  certain criteria of selection. Google Launchpad Accelerator has those criteria as listed below:

The criteria for the startups is that they must:

• Be a technological startup.
• Be targeting their local markets.
• Have proven product-market fit (beyond ideation stage).
• Be based in the countries listed above.

Google Launchpad Accelerator also checks the nature of startup. It is interested in knowing:

• The problem you are trying to solve. How does it create value for users? How are you addressing a real challenge for your home city, country or region?
• Does your management team have a leadership mindset and the drive to become an influencer?
• Will you share what you learn in Silicon Valley for the benefit of other startups in your local ecosystem?

Google plays a vital role n daily life of people and it has always looked forward to bring technological revolution ans thus is determined in its aims.

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Pakistani startup wins Global Cleantech Innovation Award

It is another proud moment for Pakistan. Pakistani startup are nowadays in the tech news for its competitive nature. These startups are moving up to international platforms to gain popularity, reorganization and pride for the nation.

A Pakistan based CleanTech startup has recently won a Global Award in the category, “Waste to Energy”.

9th February, 2017 marks the winning of this startup at a global level. The awards were held at Silicon Valley in San Francisco. During the CleanTech week the startups participated from India, Malaysia, Morocco, Pakistan, South Africa and Turkey.

Global CleanTech Innovation Program holds this competition annually to recognize the efforts of entrepreneurs and startups. It aims to create a platform that accelerates the progress of clean technology innovations.

Among the five teams that were selected from Pakistan by UNIDO was “Green Team“. The Green Team utilized perilous waste material from industries to make coal like substances called “clay stoves”. They made this aiming to reduce air pollution as these will not emit any harmful carbons.

Global Environment Facility supports GCIP financially. The initiative was taken and maintained by United Nations Industrial Development Organization (UNIDO).

The program has been established in six countries and is a great success. The tech accelerator, The CleanTech Open is also associated with the program so that it runs successfully.

The website of the program reads, “In Pakistan it focuses on promoting developing and commercially operable clean technology startups to propel green industrial surge in the country.”

In a video uploaded by Philippe R. Scholtès who is UNIDO Managing Director he praises the participants. He said,

“The continued extension of the Global CleanTech Innovation Program family affirms and strengthens our vision of building an innovation and entrepreneurship ecosystem for clean technologies around the globe.”

These kinds of wins are really important for the people of Pakistan at this critical moment. These encourage people to achieve more and it delivers a very positive image of Pakistan. We hope good for Pakistani Startup.

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Karandaaz Pakistan and the three winners of Fintech Disrupt Challenge Pakistan signed grant agreements. The grant agreement of $100,000 with each Ricult Pakistan, Paysys Labs and PublishEX Solution was signed. That makes a total of US $300, 000. Karandaaz Pakistan is a great financial support for the growing companies.

The three companies were bit selected randomly but after a long process. In November last year during the Fintech challenge 61 applications were received only 28 were selected for challenge. The event was held at LUMS Center for Entrepreneurship. Than the 10 finalists were shortlist, finally these three managed to achieve top three positions.

Ali Sarfraz the CEO of Karandaaz Pakistan said,

“This competition showcased an incredible display of talent from startups across the nation. We have now completed the first step in the process with these awards. The next and more vital piece of this challenge will be getting the deals completed, and setting up a soft landing for winning startups who aspire to disrupt FinTech industry. We look forward to expediting that process and helping these startups gain traction in the Pakistan market,”

Rehan Akhtar the Director Digital Financial Services of Karandaaz Pakistan added,

“The initial mobilization amount will give the winners a kick-start to their projects. With this grant, we intend to provide them with capital inflow for the next one year so the startups remain focused on ope-rationalization of their products/services rather than worrying about lack of finance. We expect these Fin Techs to be sustainable in the long run and create an impact in the digital financial services industry.”

Ricult Pakistan:

Farmers are one of the major assets of Pakistan. Ricult wants to make it easier for farmers by a digitized method. This would help to reduce inefficiency in the farming system. It enables the farmers to register for free by phone. In Ricult the can order supplies and can get easy loans.

The Ricult gets a small amount of each money transaction. Ricult plans to integrate a mobile-wallet in their platform which will seamlessly disburse amounts to the farmer’s account.

Paysys Labs:

This is a technology startup. Karim Jindani believes, “Secure & friction-less identity verification is one of the major challenges in DFS space.”

It aims to introduce a biometric ID verification solution that will use a Smartphone camera. This will allow easy authentication anywhere.

PublishEX Solutions:

The startup wants to use the amount in building a platform named Direct Carrier Billing. It aims to provide secure yet fast way of money transfer.

Salim Karim and Yassir Pasha want to build a platform fir convenience of merchant. According to them this will be, “A payment channel which enables merchants to seamlessly monetize digital goods and services for their users on a global scale.”

About Karandaaz Pakistan

KARANDAAZ PAKISTAN, a not-for-profit company registered under SECP in August 2014, promotes access to finance for small businesses through a commercially directed investment platform, and financial inclusion for individuals by employing technology enabled digital solutions.

The Company has financial and institutional support from leading international development finance institutions; principally the United Kingdom Department for International Development (UKAid) and the Bill & Melinda Gates Foundation.

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The four talented graduates of  NED University, who are successfully running their startup, WrapKar, proved that their business remains un-affected by the ban on billboard advertising in place. They have devised a new way to promote business and have set a remarkable example that success can not be hindered by temporary bans.

Yes, This Pakistani startup WrapKar is a big hit. With this, now advertisements are more effective. They reach more people and are more efficient than stationary billboards. It is also providing platform for people to make some money.

The startup puta the advertisements on cars and than these cars are moved around the city. Till date about 300 drivers and owner of these vehicles are associated with startup. Also seven to eight companies are reported to have been engaged with the startup so far. These companies deal in food and fashion.

One of the co-founder of WrapKar, Mubashir Sakhi has said,

“We have successfully run our pilot project with PakWheels’ advertisements displayed on three cars through October-November 2016.”

According to stats claimed by startup the three cars was able to cover a  combined distance of 2,962 kilometers on Karachi roads.

This way is effective and easy. This is helpful for people, company, car owners and even the drivers. The owners of cars usually get  Rs 5,000-18,000 a month.

The aim of formation of startup was to share advertisement-generated revenues.

Interview: WrapKar by idgwebstudio

Not all times are suitable to run the cars on roads. Each car should at least cover 35 km /day. It should be well maintained and the car should run on roads while the roads are full of traffic.

About, car monitoring, the co-founder has to say ,

“We monitor the car’s mileage, location, and time of driving with the help of the app and the sensor.”

He further added,

“Advertisements would achieve the desired results as long as the cars cover the required mileage.”

The co-founders have all graduated from NED University in the year 2015. Then they all graduates from NEST I/O in 2016.  The Nest i/o is a technology incubator in Karachi, Pakistan launched by P@SHA with global partners Google for Entrepreneurs and Samsung.

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The Pakistan Mobile App Awards is an annual competition governed by Pakistan Telecommunication Authority (PTA) in collaboration with Ministry of IT and Telecom Pakistan, Special Talent Exchange Program (STEP) and Telenor.

The program has been developed to promote new ideas and push innovation in technology its accessibility. This year the participants were challenged to work on digital inclusion, embracing the needs of people with disabilities, the theme was hence titled as “Embracing Mobile Accessibility”.

Representing Orient Electronics and its technology wing BlueEast Pvt. Ltd., the team of Smart Devices entered the competition with a home automation product and a disability application for visually impaired individuals.

Their solution which won the first prize in the Pakistan Mobile App Awards was based on a smart switch board and an accompanying application that allows you to remotely control your switches and plugged in appliances.

“We utilized the Google Talkback function in Android to design a user interface for visually impaired people,” explains the team leader for Orient Smart Devices, Abdul Ghaffar,

“The application hence comes with vibration and audible feedback that enables disabled people to control their living spaces through their mobile phones.”

The team is also working on voice enabled commands to further enhance their application accessibility.

The idea stemmed from the team’s personal motivation to address day-to-day challenges for disabled persons,

 “In 2014, a close friend was involved in terrible accident that disabled him. When I went to see him, I realized how difficult life was for him. He could not sleep because the lights and the air conditioner were on and he could not switch them off without help,”

explains Abdul Ghaffar,

“I wanted to do something to change that. This is why I developed Smart Devices and now with BlueEast we can focus on making this a reality.”

While the scope of Smart Devices has evolved considerably after acquisition, the focus of improving accessibility is still at the organization’s heart, albeit now reinforced by BlueEast’s backing and product vision.

“We are now working on multiple fronts. We want to be home, offices, automobiles, healthcare and even the industry,”

says a spokesperson from BlueEast Pvt. Ltd.

The award winning team has already furnished a ready for market product in collaboration with Orient Electronics which will hit the market soon.

“It’s been a crucial couple of months as the BlueEast team has been involved in product prototyping and its market ready eComfort component. However, we are committed to deliver on our goals of improving accessibility on a global scale,”

commented the CEO of the company, Abdul Rehman Talat,

“We are proud to have won the Pakistan Mobile App Awards and our excited to have Ghaffar lead the development in this segment from the front.”

About Smart Devices

Smart Devices, a former incubate of Plan9 is among the first Pakistani startups intends to focus on home automation and make the life easier for people with disabilities. It allows you to control your home appliances from any corner of the globe. Recently, Smart Devices has been acquired by Orient’s Internet of Things (IoT) division.

The post Orient Smart Devices wins First Place at Pakistan Mobile App Awards appeared first on Techlist.

Nearpeer bagged an investment at 6 figure (USD) valuation from Shopistan.pk. Nearpeer is incubated by Ilm Ideas 2 and is Plan9’s startup. It is a platform for Massive Open Online Course. It offers a wide range of online video courses. These online courses are institution-specific.

The MOOC wants to promote education system in Pakistan via Al. Ammar Ali Ayub and Shahrukh Swati are behind this revolutionary idea. The two are talented alumni of LUMS. They are also its co-founders.

Ammar seemed really happy and positive about the investment. He said,

“Half a million students graduate from university annually in Pakistan but not enough jobs are created to absorb all of them. My team always had a motto; instead of becoming a burden on an overburdened economy of Pakistan, we are going to create opportunities within our economy by introducing more jobs.

Before even graduating from LUMS, we had created new opportunities for almost 22 people. Now this partnership with Shopistan will help us further this motto as we’ll be expanding into more universities and markets at an accelerated rate.”

 

There is a long list of online courses available but there is no such platform where you can find all the online courses. The problem is solved and Shahrukh was of the view,

“As a student at College and university level, I always felt the gaps in the education system. Monotonous classes, little complementary resources outside the classroom, and irrelevant and scattered online resources used to make the process difficult. Expensive MCAT/ECAT academies used to be a huge burden on my parents.

In the era where things like booking a cab, and ordering the food have been made simpler, why can’t education process made easier too? I tried, and Thanks to Allah Almighty, I succeeded. With this technology partnership we’re going to introduce Artificial Intelligence (AI) into the education system and generate great content for markets of MCAT, ECAT, O/A’Levels, FSc, and similar markets in coming two years.”

Ali Aziz also spoke about the partnership. He said,

“We are making an investor syndicate and this is our first investment in a startup. We are aiming to promote education and health in Pakistan’s ecosystem. Our main purpose is to help startups with their technology in order to enable them to focus on their business side and make the next round of raising investment easier for them.”

According to the buzz Nearpeer claims to promote O-levels, A-levels, and MCAT and ECAT markets in Pakistan. They also plan to provide free courses to the university market. The cities under research are like Multan, Bahawalpur, Sargodha etc.

Dr. Umar Saif is supporting the investor community. He said,

“It is heartening to see investors putting faith in young entrepreneurs. One after another news of investment in a startup is the validation of the fact that this startup culture is growing and will reach heights of success in near future.”

Since 2015 the Nearpeer has gained a lot of popularity. When it started it had only 1200 paying customers and 3000 users overall. Now the stats have risen to 2500 paying customers and 6200 online users.

Nearpeer is offering 55 courses and plans to offer more in the time to come. They have branches in LUMS, LSE and Chartered Accountants Market. They plan to set their feet in GIKI, PIEAS, NUST, ITU and FAST soon.

The post Plan9’s Startup Nearpeer raised investment from Shopistan appeared first on Techlist.

Momentum Pakistan is perhaps the perfect platform right now for all those who are looking forward to start a company.

Momentum Pakistan is startup conference that will last for two days. It is a great opportunity for young people to learn and interact with people of mutual interest. It will provide greater range of ideas and vast knowledge on running the company successfully.

The event will be held on February 6th & 7th 2017 at Expo Center Karachi.

Conference Offerings

The major meet up of people associated with different field s of technology, Momentum Pakistan is the first of its kind in Pakistan.

Top entrepreneurs, investors, incubators/accelerators, academic institutions, Mobile network operators, financial institutions, tech companies, government officials and media from all across the Pakistan will be present at the event.

It is expected that total 5000 attendees will be there and 175+ startups are planning to promote, showcase and inspire other young people who are interested to join the field.

Taking Pakistan towards prosperity

Some previous years have not been good for Pakistani entrepreneurs due to image issue. The funding landscape dropped to a shocking level. There have been gaps and it has remained flat for most of the time.

The time does not remain same. The changes are coming. We know the change is slow but it surely is approaching. This is all because of  improved security profile, GDP growing at a healthy 4.7 percent, over 35 million 3G and 4G connections, and sprouting accelerators and incubation centers all over the country. Now the country is becoming a hot destination for the investors.

Along with training and financial support service the Momentum Pakistan aims to bring together the innovative minds of young generation for a real big success.  The authorities want that the people should learn to help Pakistan prosper in every possible manner. It aims to bring about Tech-revolution for the benefit of the country.

Regulatory Support towards building an aggregated platform

According to the buzz, the startups have been discouraged because of the policies that include heavy taxes and fee.  The program promotes transparent system in business registration.

Authorities are of the view,

“Collaboration among all stakeholders is key. Thus ‘one-window’ facility where all legal registration, memberships, and taxations could be conducted in a single day would encourage new, small startups and truly bring about a real and systemic change for Pakistan.”

The event is brought to you by State Bank of Pakistan, Pakistan Telecommunication Authority and Security and Exchange commission of Pakistan.

Access to Global Support Services

Momentum Pakistan has joined hands with Amazon, IBM, Microsoft, Acumen and Enclude. Their partnership means that there will be more global support for the startups.

Syed Amir Jaffrey who is Momentum Pakistan’s Co-founder and CEO said,

“We are excited to bring these partnership and support from Silicon valley entrepreneurs to Pakistan to increase global support to Pakistani startups. Our strategic partnership will help leading startups working on innovative products and services succeed within and outside Pakistan”.

If you are willing to participate in the Momentum Pakistan than don’t wait for the perfect moment, take the moment and make it perfect by simply visit official Facebook Page Momentum Conference or email them at: info@momentum.org.pk. And make yourself registered for the amazing chance.

The post Pakistan’s Leading Startup Conference Momentum 2017 to be held on 6th & 7th February in Karachi appeared first on Techlist.