7th of July 2022 – National Incubation Center Karachi (NIC Karachi) hosted U.S. Department of State’s Special Representative for Commercial and Business Affairs, Dilawar Syed for a special Promoting U.S – Pakistan Innovation and Investment event.
The event was attended by the chief guest, Federal Minister for the Ministry of IT & Telecommunication, Syed Amin Ul Haque, Executive Director of IBA Professor Dr. Syed Akbar Zaidi, Chief Executive Officer of Ignite – National Technology Fund, Asim Shahryar Husain, Chief Executive Officer of LMKT, Atif Rais Khan, General Manager at Ignite – National Technology Fund Muhammad Bilal Abbasi and U.S Consulate General Karachi, Mark Stroh, amongst other prominent guests from the public and private sphere.
The purpose of the event was to build conversation around the current state of technology and innovation in Paksitan, the role the U.S has played in the past to promote it and what the future holds for this partnership.
In his address, Special Representative Dilawar Syed reiterated the U.S’ commitment to the partnership,
“The United States is committed to expanding our bilateral trade and investment relationship with Pakistan.”
The proceedings began with an address from Project Director of NIC Karachi Omar Abedin, where he summarized the progress that has been made by the startup ecosystem and the incubator’s role,
“Despite the current state of the global economy, Pakistani startups have continued to thrive. From the $103 million investment raised in the second quarter of the year by Pakistani startups, $11.3 million was raised by NIC Karachi startups.”
The headliner of the event was a panel discussion hosted by Economic and Business Journalist at Profit Pakistan, Ariba Shahid. The discussion perfectly encapsulated a critical need for a cultural shift towards entrepreneurship and the role that global bilateral partnerships play in facilitating that. For Atif Rais Khan, partnerships have been a key part of his entrepreneurial career,
“One of our earliest projects was done in collaboration with USAID and in many that kicked off a cycle of events that has enabled us to create transformational technologies at home and abroad.”
The shift is already taking place with a growing demand for relevant education according to Syed Akbar Zaidi,
“At IBA, we have had to increase our intake sizes and even offer new globally recognized programs such as the Bachelors in Mathematics. Young people want to pursue entrepreneurship and we have to empower them.”
Gender inclusion was another focus area of the event and has been top priority for the Ministry of IT and Telecommunication in all facets of its work particularly Ignite’s incubation programmes. The Federal Minister expressed his delight at the growing number of female co-founders at NIC Karachi.
“Having over 30% female co-founders is a significant improvement but now the goal should be 50%. Women are a key part of the economy and we must ensure they’re given all the resources and avenues to succeed.”
As the event drew to a conclusion, Asim Shahryar Husain reflected on the outcomes of the evening.
“This event was evidence of the fact that we’re all on the same page, the government, the private sector and partners like Mr. Dilawer. The goal from here on is to keep building the infrastructure and teams needed to facilitate technological entrepreneurship in the country.”