Hints of Regulating Startup Funding
The government might want to regulate the funding process for the startup ecosystem in Pakistan.
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The Prime Minister's aide and the head of Pakistan's Strategic reforms unit, Salman Sufi hinted via a Tweet yesterday shared his opinion that 'ventures which solely rely on raising funds and then fail due to a lack of a robust corporate mechanism must be discouraged'.
There was no encouragement for Salman Sufi’s idea on Twitter as many notable users questioned him for sharing an idea that can actually impede the progress of the startup industry in Pakistan.
In 2021, 83 Pakistani startups raised USD 350 million according to Invest2Innovate, a Pakistani consultancy firm. And so far this year (CY2022), the sector has already raised USD 322 million.
GRAPHIC OF THE DAY
Startup funding in Pakistan during the past three years with the year 2021 being an inflection point indicating an increase of 438% in funding compared to 2020
INSTAGRAM POST
Pakistan improved its ranking by 9 places in the Global Talent Competitiveness Index 2019-2021 — www.instagram.com
⚫ Pakistan’s rank in the dimension of ‘growth’ (which includes formal education, lifelong learning and access to opportunities) and ‘retain’ (which includes sustainability and lifestyle) was better in 2021
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