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PNIP Invites Startups with Promise of Rs. 50 Million in Funding

Morpheus

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PNIP Invites Startups with Promise of Rs. 50 Million in Funding

Posted 1 hour ago by Syeda Masooma

startup funding


Pakistan National Investor Portal (PNIP) issues invitations for start-ups from across all sectors, offering Rs. 50 million in funding for each start-up.


“We’re seeking start-ups from around Pakistan across any sector with the potential to deliver impact and returns to investors,” said a statement issued by PNIP.
They said they will provide start-ups the tools they need for successfully raising capital, including developing a professional business plan that helps stack up against investor expectations, valuation model, transaction structure, term sheets, and a range of other support services and resources.
PNIP will select 20-25 startups depending on the quality of applications, which will then be provided access to a global award-winning investment readiness program.
Up to five finalists will be selected for the accelerator and receive Rs. 50 million in funding.

In case you are wondering, PNIP is Pakistan’s first and only crowd source VC fund, approved by SECP. More details can be found here: https://pnip.com.pk/

Application Process:

First, complete step 1 of the application by signing up on PNIP, which takes about 2 minutes. You’ll then receive an email to begin the full registration and profile building for listing on PNIP, which can take up to a few days to complete. You can also save and come back to it as you work, and PNIP advisors are there to support you along the way.

All applications must be submitted by March 31, 2021.

Visit www.pnip.com.pk and start the application process without delay. In case of queries, email info@pnip.com.pk.


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Morpheus

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10 VC Funds Ready to Invest in Pakistan’s Digital Landscape

Posted 7 seconds ago by Syeda Masooma



In order to boost digital transformation in Pakistan and to facilitate investors and protect their capital with tax incentives for ten years, the government has amended foreign exchange regulations for special technology zones.


These changed regulations aim to boost investment and promote digital transformation, and a billion-dollar fund was in the works for the same purpose, reported Arab News quoting Special Technology Zones Authority Chairman, Amer Hashmi, at the event “Connecting Pakistan: COVID-19 Lessons for Digital Policy” – organized by the policy think tank, Tabadlabb, in Islamabad.

He said, “We have gotten ten venture capital funds now finally ready to come to Pakistan,” adding that “The state may think about going fifty-fifty with them, and create the first billion-dollar fund.”
Hashmi said that the government does not have cash, but is making efforts to raise revenue and employment. He said that digital initiatives would be accelerated in the next two years as Prime Minister Imran Khan was supervising the digital transformation process.

CEO Jazz, Aamir Ibrahim, said, “This is the inherent disconnect between the three key stakeholders: the investors or operators, the governments, and the end-users, who want the best service for free.”

High taxes are one of the major obstacles to the rapid adoption of fintech and digital payments despite initiatives such as the government’s instant payment system, Raast, Tez Financial’s co-founder, Naureen Hayat, said. Adding, “Cash from a customer’s perspective is still cheaper than digital. This perception comes as a result of taxes and extra charges.”

However, the CEO Telenor, Irfan Wahab, believed that while global demand for digital access during the COVID-19 pandemic and solutions to overcome obstacles increased manifold worldwide, in Pakistan, the same could not be adequately captured due to suboptimal government support and lack of preparedness by the industry.

In many other countries, regulators expanded the spectrum during the pandemic to allow smoother access to high-speed Mobile internet. However, in Pakistan, the government’s focus remained maximizing revenue from spectrum sales, he said.

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Morpheus

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Pakistani startups launch Chikoo platform to boost digital presence of SMEs

  • Chikoo, a new ecommerce tool enables businesses to start selling online, through this partnership both companies will work together to co-market and co-sell the Chikoo platform to affiliates of both companies to help them get their store online in under 3 minutes.

Ali Ahmed 23 Feb 2021

In order to provide digital growth to micro SME business, Pakistani startups namely; Brandverse and eOcean have signed a MoU to work together via the new Chikoo platform.

Chikoo, a new ecommerce tool enables businesses to start selling online, through this partnership both companies will work together to co-market and co-sell the Chikoo platform to affiliates of both companies to help them get their store online in under 3 minutes.

Raza Matin, CEO & Co-founder, of Brandverse, Pakistan’s largest content creation and distribution business said on the occasion “our organizations share a common goal of democratizing access to otherwise out of reach technology for small businesses, so that they too can build their digital future.

"Chikoo is our first step in helping every Pakistani business exercise what we believe is their fundamental right; to sell online. We have seen world over, the power of technology to uplift and are incredibly excited to see what Pakistani entrepreneurs, in all sectors, male and female, achieve when we finally give them the tools to compete on an even footing with everyone else.”

Amir Jafri, CEO of eOcean, Pakistan’s leading enterprise grade cloud communication provider added “as of one Pakistan’s largest cloud communication providers, we have had the opportunity to see first-hand, how businesses, medium and large, traditional and disruptive, have all benefited tremendously from the use of our cutting-edge technology platform. The revolutionary Chikoo platform allows us to seamlessly provide these very same technologies… to millions of businesses across Pakistan.”

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