Provides an analysis of the opportunities and challenges faced by young entrepreneurs
islamabad:
A report on the state of youth-led business in Pakistan has been published, which naturally includes an insight into the local start-up culture titled ‘State of Youth Entrepreneurship Ecosystem in Pakistan’.
This report is a collaboration between the Commonwealth Secretariat, UNDP Pakistan and the Islamic Development Bank.
This landmark report provides valuable insights into the current state of youth entrepreneurship in Pakistan and offers strategic recommendations to foster a dynamic and inclusive ecosystem for young entrepreneurs. Masu.
The launch event held in Islamabad featured a keynote address by Prime Minister Youth Program (PMYP) Chairman Rana Mashhood Ahmed Khan, who praised the collaborative efforts behind the report and He emphasized the government’s unwavering commitment to supporting youth entrepreneurship. .
In his speech, the Chairman highlighted some of the innovative initiatives undertaken by PMYP to promote entrepreneurship across Pakistan. In particular, he highlighted the success of the program’s business loan scheme. The program has so far disbursed Rs 83.6 billion to young entrepreneurs, including 16,000 women entrepreneurs, since it was relaunched by Prime Minister Shehbaz Sharif on January 24, 2023.
The scheme provided loans to 140,000 young people, including those in agriculture, microfinance and interest-free business ventures, enabling them to turn innovative ideas into successful businesses.
The Chair further highlighted the impact of the National Innovation Award, which provides financial support, mentorship and development resources to help young entrepreneurs realize their full potential and foster a culture of innovation and creativity in Pakistan. Also mentioned.
“I am delighted to witness the launch of the ‘State of Pakistan’s Youth Entrepreneurial Ecosystem’ report, which provides valuable insight into the challenges and opportunities faced by young entrepreneurs in our country,” he said. “PMYP remains committed to empowering the next generation of entrepreneurs and calls on development partners and the private sector to join us in implementing the recommendations outlined in the report.”
The launch event brought together government officials, development partners, private sector representatives, and aspiring young entrepreneurs to strengthen Pakistan’s entrepreneurship ecosystem and foster sustainable economic growth. We discussed strategies.
The State of the Youth Entrepreneurship Ecosystem in Pakistan report helps policy makers, development agencies and stakeholders design targeted interventions to support youth entrepreneurship and contribute to Pakistan’s economic development. It serves as a roadmap for
Published in The Express Tribune on May 13thth2024.
