Startup ecosystem in Pakistan is witnessing an upward trend which is quite evident from the fact that Pakistan startups have, in the past year, managed to attain millions of dollars of funding from international investors, helping them turn their ideas into reality.
This upward trend was highlighted in a report titled “Global Startups Ecosystem Index 2021”, released by StartupBlink. As per the report, Pakistan’s startup ecosystem has improved seven places at the global level, taking it now to 75th spot in the world. Meanwhile, the report also said that the country is at second place in the South Asian region.
The overall growth in the startup sector was the result of improved ranking of individual cities in Pakistan when it comes to entrepreneurial advancements. The report said that Lahore is highest-ranking city in Pakistan in terms of startup activity, and has jumped 14 places to 257th spot at the global level and 4th in the South Asian region.
On the other hand, Islamabad jumped 122 places at the global level and is now at 437th spot, while in South Asia the city is ranked at 15th on the basis of startup activity.
However, Karachi has witnessed a drop at the global level, as the city fell 7 places to 268 worldwide, and is ranked 8th in South Asia.
Other cities witnessing a rise in the startup activity ranking include Rawalpindi, which jumped 21 spots and is now at 956th spot, and Faisalabad, ranked 5th nationally, jumped 38 spots to 960th at global level.
A total of 8 cities of Pakistan have rankings at the global level. Two new addition to the ranking table include Jhelum which is ranked 6th at National level and 988th at global, and Multan, ranked 7th nationally and 990th globally.
Realising the startup potential in the country, the government of Pakistan has now initiated reforms to set up the startup ecosystem, promote the ease of doing business, innovation and enterpreneurship in the country.
From : pk.mashable.com