Tech Desk 
Nov 08, 2024
KfW Development Bank, the Aga Khan Foundation (AKF), Aga Khan Rural Support Programme (AKRSP), and Accelerate Prosperity (AP) have jointly launched the "Startup Pakistan" initiative, aiming to support the growth and development of startups and small and growing businesses (SGBs) in the country.
The initiative funded by the Federal Ministry for Economic Cooperation and Development (BMZ) of Germany aims to scale up Accelerate Prosperity’s (AP) existing model to foster innovation, job creation, and economic resilience in Pakistan’s startup landscape.
Startup Pakistan initiative
The Startup Pakistan initiative will empower startups across diverse sectors, including education, health technology, sustainable tourism, and green building, with a focus on youth and women entrepreneurs.
Read more: Building a better tomorrow — Youth-driven startups focus on profitability and purpose at SOT Event
It will provide technical support and financing to businesses in Punjab, prioritising digitisation and environmental sustainability.
At the launch event, Special Secretary for the Minister of State for Information, Technology and Telecommunications, Azfar Manzoor, emphasised the government's commitment to creating job opportunities for youth through entrepreneurship.
“Pakistan, with its substantial youth population, is ideally situated to harness entrepreneurship as a key for economic growth. Prioritising the development of small and growing businesses will not only foster a stronger entrepreneurial culture but also open up more employment opportunities,” Manzoor stated.
However, the Head of Development Cooperation at the German Embassy, Dr Sebastian Paust, noted: “Start-ups are catalysts for innovative economic growth, but they need a conducive business climate which is still a big challenge here in Pakistan.”
