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The number of startup companies in Pakistan is rising steadily, especially in the IT, communications, retail and HR sectors. Here are five reasons why this is the best time to consider launching a startup in Pakistan:
Ecosystem. Now more than ever before, there is a lot of support from government and private investors for funding as well as opportunities to co-share spaces and incubators. Furthermore, due to the fact that internet rates are relatively low and 3G internet service is around the corner, tech support is set to become more efficient and cost-effective, which can facilitate startups effectively.
Human resource. With so many IT, engineering and business graduates, you can choose from a variety of employees with a diverse range of skill-sets. You can collaborate with all types of professionals, who can add to your strengths and make up for your weaknesses. Furthermore, there are plenty of knowledge-sharing incubators who can help your startup grow.
Recognition. There are several successful stories of locally created applications, mobile games and retail websites. Consequently, Pakistan is being looked at as a hot-spot for startups and is believed to be evolving into a hub of innovation. Pakistani professionals are aware of the global space for home-grown products and services that can be adapted for any user in the world.
Low-cost, merit based work. If you have your own startup, it is easier to bootstrap your career. You can invest money, time and energy into your idea, and see how much it can grow. You get fulfillment, which at a regular workplace, you may have to wait years to achieve.
Employability. Running your own startup gives you valuable experience and skills which can eventually lead to an edge in a competitive job market if you choose to sell your startup. If you have run a successful startup, it usually means that you know how to create a product out of thin air and manage its functionality and operations.
– Sadya Siddiqui
The writer is a branding consultant.
First published in the Careers Section of The DAWN National Weekend Advertiser on March 23, 2014.