Pakistan Startup Fund to Launch on January 9, Announces Minister
Published on: January 10, 2024.
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Caretaker Federal Minister for Information Technology and Telecommunication, Dr. Umar Saif, has announced the launch of the Pakistan Startup Fund on January 9. In an interview with private TV channels, Dr. Saif expressed his confidence in the immense potential of Pakistani youth, noting that Pakistan has the second-largest online workforce in the world.
According to Dr. Saif, Pakistani startups have attracted nearly $800 million in foreign investment over the past four years. This speaks to the growing recognition and support for the innovative ideas and entrepreneurial spirit of Pakistani youth.
Highlighting Pakistan’s position in the global market, Dr. Saif stated that Pakistan ranks as the seventh-largest market for mobile phones, with a whopping 75 million broadband users. This emphasizes the country’s rapid digital growth and the increasing reliance on mobile technology.
In a surprising statistic, Dr. Saif mentioned that the number of social media users in Pakistan surpasses the total population of Canada. This showcases the significant influence and reach of social media platforms in the country.
Discussing the efforts to promote IT education, Dr. Umar Saif mentioned ongoing initiatives to conduct tests for IT scholarships, demonstrating a commitment to nurturing talent and fostering innovation in the technology sector. By providing opportunities for aspiring IT professionals, Pakistan aims to further develop its technology ecosystem.
Overall, the launch of the Pakistan Startup Fund and the continuous support for IT education initiatives reveal the government’s dedication to nurturing the country’s tech industry. With the increasing recognition of Pakistani startups and the growing digital market, Pakistan is poised to become a major player in the global technology landscape.
Source: [Daily Times](https://dailytimes.com.pk)
