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New startup portal aims to encourage tech innovation in Pakistan

It has been launched by the SECP

SAMAA | - Posted: Nov 5, 2019 | Last Updated: 1 year ago
SAMAA |
Posted: Nov 5, 2019 | Last Updated: 1 year ago
New startup portal aims to encourage tech innovation in Pakistan

Photo: Courtesy SECP

The Securities and Exchange Commission of Pakistan has launched an exclusive startup portal to encourage technology innovation in Pakistan.

It was inaugurated by SECP Information System and Technology Commissioner Shauzeb Ali during the ‘Startup Grind Pakistan’ conference in Islamabad, according to a press statement issued by the commission on Tuesday. 

The portal features a list of startups, simplified user experience for registration, access to mentors and incubation centres, online guides and video tutorials for startup companies.

“The SECP startup portal will be a gateway to information and collaboration hub, for the facilitation and uplifting of the existing and future entrepreneurs to connect and excel,” Ali was quoted as saying in the press statement. It said he hoped that the portal will evolve with time as an important part of the startup ecosystem in Pakistan.

A large gathering of entrepreneurs, innovators and technologists attended the conference to share their stories and inspire young entrepreneurs.

“SECP has instituted various reforms to develop a comprehensive and coherent industry policy to shape regulatory thinking and promote a conducive Fintech environment in Pakistan. This will help attract local and international innovators,” the statement read.

Ali spoke about the role of SECP and other public sector organisations in encouraging investment and fostering economic growth and prosperity in Pakistan.

“The SECP is also reviewing the Companies Act with an objective to facilitate startups and provide a conducive environment to young innovative entrepreneurs, amendments in Private Equity and Venture Capital Regulations, draft Equity Crowdfunding Regulations, setting up facilitation desks at CROs and launching of first ever regulatory Sandbox in Pakistan,” he was quoted as saying.

Pakistan is the world’s 26th biggest consumer market and its startup sector reflects this appetite. E-commerce, food delivery and ride-hailing services are common in the sector and several have been attracting international attention.

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