pakistan, world The fifth most populous country, the Internet economy has been slow to adapt. Unlike other emerging economies such as China, India and Indonesia, which have embraced digitization and technology, Pakistan has outpaced the sector in technology adoption and startup formation.
Despite this, investors dream of huge opportunities to unlock Pakistan’s potential as a digital economy. As a country of 220 million people, about two-thirds of whom are under the age of 30, Pakistan naturally draws comparisons to Indonesia – which is increasingly emerging as one of the most vibrant technology ecosystems outside the US and China. emerged as
In 2021, Pakistani startups are on track to raise more funds than in the previous five years.
After years of lag, over the past 18 months, Pakistan’s technology ecosystem has come alive at an unprecedented level. In 2021, Pakistani startups are on track to raise more funds than in the previous five years. What is even more exciting is that a substantial portion of this capital is coming from international investors, from well-known investors across Asia, the Middle East, and even Silicon Valley.
The rapid emergence of Pakistan’s technology ecosystem on the international stage is no accident – it is the result of a confluence of changing facts on the ground and changing dynamics in the world of startups and investments as a result of the pandemic.
Unlocking Pakistan’s Potential
The sudden emergence of Pakistan’s tech ecosystem on the international stage is driven by three major factors: improving security conditions, rapidly growing mobile connectivity, and significant legal changes and regulation.
As a leading state and coalition partner in the United States invasion of Afghanistan, Pakistan saw deaths from terrorist violence in 2001 peaked at more than 11,000 in 2009. This climate of instability and violence scared international trade and investors out of Pakistan for much of the first two decades of the 21st century.