Pakistan's startup ecosystem is maturing, says McKinsey

[Falcon26]

Favourable economic and demographic conditions have created a budding startup environment in Pakistan, although the country requires collaborative efforts from the government, investors and the workforce to ensure that it can reach its entrepreneurial potential.

This is according to new McKinsey & Company analysis of the startup ecosystem in Pakistan. According to the global strategy consulting firm, three broad factors are creating a startup-conducive business environment in the country. For one, the economy is growing at a rapid rate, and a bigger middle class is emerging with more spending power.

Secondly, McKinsey reports that 3G/4G connections in Pakistan have increased four-fold over the last three years, which marks a high level of connectivity in the country. Third is the fact that Pakistan is among the youngest countries in the world, with a median age of 23 and more than two-thirds of the population aged below 30.

https://www.consultancy.asia/news/3313/pakistans-startup-ecosystem-is-maturing-says-mckinsey

 

[Samlee]

PTA should create separate policies for 5G IoT Fintech AI NFC And Blockchain Technologies

 

[mourning sage]

SadaPay is another Promising startup. We will finally have Google Pay in Pakistan with this startup. It is surprising how these tech startups directly support government efforts to document the economy, even though this isnt their goal at all.

 

[S.Y.A]

The sad thing is that some of the IT companies that are doing well, although led by pakistanis, are headquartered in the US or other western countries.