Washington D.C., 2 November 2022 (TDI): According to Pakistan’s ambassador to the United States, the nation’s young entrepreneurs are catalysts for development and the strategists behind Pakistan’s promising future.
He said, through their unique and creative entrepreneurship capabilities, youth are influencing the burgeoning startup ecosystem in Pakistan.
The Ambassador believes that Pakistan offers the perfect environment for US investors and entrepreneurs to explore, invest in, and grow their businesses.
Pakistan has the fifth largest population in the world, is close to 230 million people, has a median age of 22, one of the fastest-growing middle classes, over 110 million mobile broadband subscribers, and a young human capital that is tech savvy.
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These comments were made by Ambassador Masood Khan to a group of young entrepreneurs from Pakistan who are now in the country as part of the State Department’s Professional Fellows Program (Entrepreneurship), which is run in collaboration with the University of Okhlamaha.
By giving them the access and opportunities necessary to further their careers, the programme empowers, connects, and supports the upcoming generation of young entrepreneurs from the four South Asian emerging economies (Bangladesh, India, Pakistan, and Sri Lanka).
The fellows collaborate with business owners in Oklahoma who concentrate on comparable industry sectors and exchange best practices with one another.
Out of a total of 20 competitors from 4 different nations, five (05) successful, inventive, and young entrepreneurs from Pakistan were chosen this year.
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The delegation included Mr. Ali Bin Masood, CEO of GOHO Rooms, Ms. Yumna Iftikhar, Manager Business Incubation, Balochistan; Zeeshan Khan, Founder of Celebrity Soul; Ms. Rabbia Iqbal, Senior Manager, Organizational Development & Total Rewards; and Ms. Zeeshan Khan.
These business owners ran ventures in hotel management, tourism, business-to-business supply, incubation and acceleration, and travel blogging.
Masood Khan congratulated the youth entrepreneur on being chosen for the programme and receiving the chance to represent their nation on a global platform.
The Ambassador acknowledged the value of such exchange programmes and counselled the participants to take advantage of the occasion to expand their networks and create strong professional ties.
While praising Pakistan’s exports to the US market, Ambassador Masood Khan recognized that the country’s digital startups alone have made $1.5 billion in the last 18 months, with 60% of that money coming from venture capital firms based in the US, especially in San Francisco.
Successful entrepreneurs in Pakistan are now receiving funding from renowned American venture capital firms like Kleiner Perkins, Tiger Global, and Sequia at the pre-seed, seed, and incubation phases.
He stressed the necessity for sustained engagement between Pakistan and the United States to advance trade and investment between the two nations as well as to strengthen collaboration in the fields of technology, agriculture, and health.
Ambassador Masood claimed that significant efforts were being made to forge solid connections at all levels, including between governments, businesses, and most crucially, between individuals.
In response to the group’s inquiries, the ambassador stated that Pakistan is simplifying its tax structure in order to draw more tech businesses.
It was also making further efforts to develop tourism infrastructure that was ready to receive foreign visitors.
The ambassador also found a number of business prospects for the businesspeople to connect with possible partners.
An entrepreneur delegation from Pakistan paid a visit to the US during National Entrepreneurship Month. In his proclamation, President Biden stated that we honour the “we celebrate the doers, dreamers and job creators whose vision and grit fuel our economy.”
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