ISLAMABAD
\nFederal Minister for IT & Telecom Syed Amin-Ul-Haque has said that $355 million investment was mad under Start-ups echo system in year 2022. To facilitate startup ecosystem, we have drafted policy recommendations for State Bank, SECP, FBR, and Intellectual property Organizations.
\nThese recommendations will ease up the regulatory processes for startup ecosystem. Ignite is also developing a startup portal which will help investors to review startups under different sectors or thematic areas. And eventually this will help investors do their shopping.
\nSecondly startup can also interact with investors and pitch their proposals through that portal. So it\u2019s a business matchmaking portal which will help startups and investors to build a relationship.
\nHe was addressing the Investment Conference as Chief Guest in local Hotel organized by USAID and Organization of Pakistani Entrepreneurs (OPEN) Silicone Valley.
\nThe conference\u2019s primary focus was to discuss the global investment climate, as well as the challenges and opportunities present in Pakistan\u2019s investment landscape and how we as foreign investors, can increase investment in Pakistan.
\nThe Organization of Pakistani Entrepreneurs (OPEN) is a network of thousands of Pakistani entrepreneurs and professionals all around the world, working and leading some of the most innovative companies of our time. OPEN Charter members have a net worth of over $2 billion and have had exits of more than $12 billion.
\nFederal IT Minister appreciated the efforts made by Mr. Junaid Qureshi of OPEN Silicon Valley and USAID of doing a roadshow around Pakistan to promote US investment in Pakistan. He welcomes entrepreneurs and business people to Pakistan from the US to bring their investments. He said Ministry of IT & Telecom efforts in last four years made Pakistan a Paradise of Investment in IT & Telecom Sector.
\n\u201cOn my recommendation Government of Pakistan offered various facilities and relief to both the Industry, recently, Finance Minister officially announced to resolve the main issues facing by IT Industry regarding 35% repatriation of the foreign Exchange and setup FBR special Desk in Islamabad, Karachi & Lahore\u201d, IT Minister added.
\nHe said Eight incubation centers of ignite has created an entrepreneurial vibe in the country which is helping in establishing new startups in almost every sector. The start-ups of the National Incubation Centers established in the country, received investment of $20 million from various sources last year.
\nSyed Amin-Ul-Haque said under the National Freelance Training Program initiated and funded by Ministry of IT, 20 training centers were established across the country. 8,647 graduates were trained through International standard IT courses, and these students contributed to the country\u2019s economy by earning $23 million through freelancing after training.
\nDuring the year 2022, 1638 new IT companies got registered with Pakistan Software Export Board, while 761 call centers and 1463 freelancers also registered with the PSEB.
\nWe are also establishing specialized incubation centers in agriculture & textile, aerospace technologies and gaming & animation to create more businesses in these areas and boost exports. For the provision of early stage investment, ignite is starting an accelerator program so that early age startups can sustain their businesses.
\nIgnite is collaborating with international partners like Plug & Play, orbit, DMZ , 500 global and hub 71 so that local startup ecosystem can be exposed to international investors.
\nAmin said that the 33 Million People have registered for freelancing courses under DG Skills Programs of Ignite, which is 75% more than the target. By June 2022, freelancers trained with DG Skills have earned a whopping $290 million, adding to the country\u2019s foreign exchange reserved.
\nThe Conference was attended by Chief Secretary Sindh Dr. Suhail Rajput, US Counsel General Mr. Nichole Theriot, CEO Ignite Mr. Asim Shehryar, Ms. Jahan Ara of Katalyst Lab, Mr. Junaid Qureshi OPEN Silicone Valley, Dr. Farah Essa and prominent Personalities from Pak-US IT Industries.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Federal Minister for IT & Telecom Syed Amin-Ul-Haque has said that $355 million investment was mad under Start-ups echo system in year 2022. To facilitate startup ecosystem, we have drafted policy recommendations for State Bank, SECP, FBR, and Intellectual property Organizations. These recommendations will ease up the regulatory processes for startup ecosystem. Ignite is […]<\/p>\n","protected":false},"author":2,"featured_media":314785,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-314781","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-national"},"yoast_head":"\n