A fascinating look at the innovation ecosystem in Pakistan in a free download from UBI Global
With 140 million people under the age of 30, Pakistan is one of the youngest country demographics in the world – with one of the fastest-growing economies in Aisa. As the country experiences population growth, the question is who will employ all these new workers?
Consequently, the potential for entrepreneurship is at an all-time high, based on unprecedented numbers of young people hungry to make their mark on the country’s economy and, indeed, on the needs of their people. The government is paving the way, structuring incubators, and providing incentives in the way of tax relief and other investments in innovation. But how healthy is the innovation landscape in Pakistan? That was the query posed to the UBI Global research team by our valued strategic partner, the PEP Foundation. Our research team was only too happy to answer by combing through the World Benchmark Study 2019 – 2020 and the rich field of data it contains. Before we commence the next iteration of the World Benchmark Study 2021 – 2022, let’s take a look at the innovation ecosystem in Pakistan.
Who is the PEP Foundation?
With offices in New York City and Islamabad, the PEP Foundation was founded to ensure the right of every young man and woman in Pakistan to have access to quality higher education. A registered 501(c)3 non-profit organization, the PEP Foundation has a mission that includes the mandate, “through academic excellence, Pakistan will be able to produce outstanding professionals and leaders and bring economic prosperity to its masses.”
The Report
Through our open network partnership with the PEP Foundation, the report studies 74 business incubators and accelerators currently active in Pakistan. Incidentally, 59 of these programs are UBI Global members, and 31 participated in the World Benchmark Study 2019 – 2020. This report includes a snapshot of the state of the country’s economic innovation ecosystem in its entirety, focused on university-based incubators. The report measures the capacity of the existing programs, analyzes strengths and weaknesses in a regional and global context, and provides key takeaways on how to improve, support, and accelerate entrepreneurship.
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What are the key takeaways?
The business incubators and accelerators in Pakistan, though young, are on par with their regional and global peers as far as providing value for themselves, their client startups, and their local innovation ecosystem. Continuing to assess and benchmark themselves is one recommendation for the programs to further improve their processes and success rate as they continue to serve their client startups. Diversification of the financing structure is another recommendation for the programs in Pakistan, as the programs gain traction they should strive to supplement government support and public funding with revenue from corporate partnerships and alumni startups. For more key takeaways and recommendations, download the report.
Who should read the report?
Activating Entrepreneurship in Pakistan offers valuable insights for incubator and accelerator managers on best practices in action as well as how to overcome many obstacles faced by programs worldwide. Government innovation seekers as well as researchers, investors, and corporations on the hunt for vibrant ecosystems to form partnerships with will also discover valuable insights within the pages of this report.
Become a member of our innovation intelligence community and interact with the programs featured in the Activating Entrepreneurship in Pakistan report and all over the world! Click here to become a Pro or Premium member to participate in the next World Benchmark Study 2021-2022 – begins Spring of 2021!
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