Pakistan Destined to Become Tech Hub of Region, Paklaunch Membership Climbs to 350,000
By Elaine Pasquini
Washington: “The tech industry of Pakistan has witnessed exponential growth during the past few years with our IT products and services making their way to the United States and other parts of the developed world,” Masood Khan, Pakistan’s Ambassador to the United States, said at an April 26 gathering of more than 30 Pakistani-American businesspeople and entrepreneurs.
The large group included CEOs and founders of leading tech startup companies owned by members of the Pakistani diaspora based in the US that have now grown into multimillion-dollar entities offering technological and IT solutions in almost every field including cyber security, IT, healthcare, education, retail and other critical sectors.
“Pakistani tech startups are being supported by the leading US venture capitalists and our tech-savvy youth is making its mark in the global market with its immense entrepreneurial skills,” the ambassador averred. “We have become an integral part of the tech ecosystem of the region and are destined to become the tech hub of the region in the near future.”
Aly Fahd, CEO and founder of Paklaunch (PL), in his well-received comments, noted Paklaunch’s vision is to “help build Pakistan into the top 10 tech ecosystems in the world by 2030.”
Paklaunch is a platform driving growth in the Pakistani entrepreneurial and investment ecosystem by showcasing the accomplishments and achievements of distinguished Pakistanis. In addition, it helps Pakistani entrepreneurs through advisory services, training, or fundraising, and enabling discussions on global investment opportunities including, but not limited to, stocks, real estate, and startups. It also facilitates networking and collaboration through group discussions and events, both virtual and in-person.
Founded in San Francisco in April 2020 with only seven members, Paklaunch now has 350,000 members in its global community of investors, professionals, and startups. So far, the platform has helped 90 startups and has successfully raised over $90 million to support the nascent entities with a vision. Paklaunch will be hosting a conference in San Francisco this year, he related, with plans to connect the top 50 Pakistani founders with 100 investors. The organization is also planning to launch a television program similar to the popular American business reality series Shark Tank to promote entrepreneurship in Pakistan.
Calling Paklaunch a momentous and consequential initiative to support budding entrepreneurs, Ambassador Khan lauded the efforts of Aly Fahd and wished Paklaunch success in its endeavors.
“Aly Fahd is a trailblazer who started from scratch and has developed the platform to a strength,” he enthused. “The way this initiative has succeeded in supporting tech startups in Pakistan has built our confidence.”
Other companies represented in the meeting included Breshna.io, American Institute of Artificial Intelligence, Dingman Center Angels, Capitol Technology, SnappRetail, Accenture, Capital One, Beaj Education, Unboxx Technologies, ioSENTRIX, Nurse Next Door, Teach the World Foundation, Zigron, Gepeto, XtremeLabsLLC, among others. CEOs and founders of various companies also shared their experiences. They applauded Ambassador Khan’s initiative to bring them under one roof for better networking, sharing experiences, and broadening their outreach.
“Pakistan is a country with a destination,” Ambassador Khan said, noting it is a nation with one of the largest reserves of human capital.
He also highlighted the critical role the Special Investment Facilitation Council is playing in promoting foreign investment, especially in IT, agriculture, energy and extractive industries.
In the discussions, it was agreed that the Embassy of Pakistan would act as the nodal point to connect Pak-American entrepreneurs and tech companies with relevant ministries and departments in Pakistan for ease of doing business.
While urging the CEOs and founders of tech companies to enhance their investments in Pakistan, the Ambassador assured them of all possible facilitation and support by the Embassy of Pakistan in their important endeavors.
(Elaine Pasquini is a freelance journalist. Her reports appear in the Washington Report on Middle East Affairs and Nuze.Ink.)
