Impact of COVID-19 on Pakistani Startups & The Way Forward
To better understand the impact of this crisis on the Startup Ecosystem in Pakistan, and to equip the government and policymakers with insights to support businesses, the National Incubation Center has launched this report, ‘Impact of COVID-19 on Pakistani Startups and The Way Forward’.
The analysis presented in this report is based on data collected through survey from 86 Startups based in Pakistan, and focus group interviews conducted with 10 startups. Based on analysis of the collected data, this report shares key insights on how startups across various sectors have been impacted by the pandemic, and puts forward a set of recommendations for startups and various ecosystem players to collaborate and help sustain the nascent, yet evolving ecosystem during this challenging time.
SECP’s Regulatory Sandbox & Startup Focused Changes to Companies Law
As the Startup Ecosystem in Pakistan continues to evolve, a need for startups to be recognized and protected through a regulatory framework has been identified by the SECP.
The SECP,realizing the need for startups to be recognized and protected through the regulatory regime, stepped forward and introduced amendments to the Company’s Act 2017, under the Companies (Amendment) Ordinance 2020, and for the first time, the definition of a Startup as a separate entity has been recognized and incorporated in the law.
National Health Hackathon
The world is going through an unprecedented change. Healthcare challenges are affecting the way we act, interact and run our businesses.
To take these challenges head-on, The National Incubation Center TeamUp and Jazz xlr8 in partnership with the Ministry of National Health Services, Regulation and Coordination (M/o NHSR&C), United Nations Development Programme (UNDP),Rehman Medical Institute (RMI), Organization of Pakistani Entrepreneurs of North America (Open),Pakistan Television Corporation (PTV), National Incubation Center Karachi (NIC Karachi), TVOnePakistan and Association of Pakistani Physicians of Northern Europe (APPNE), organized a solution based all-online National Health Hackathon.
Investor Round Table Whitepaper
This whitepaper summarizes and makes recommendations based on the discussions that took place at the Investor Roundtable, held at the NIC on the 11th of October 2019.
The objective of the Roundtable was to discuss the investment landscape for startups in Pakistan. Participants shared insights and explored possibilities for collaboration at various levels. The agenda of the roundtable revolved around discussions on the current challenges in the investment landscape, sharing international best practices, and proposing solutions for structuring the investment process in the country.
Leadership Talks: The New Normal In E-Commerce
E-Commerce in Pakistan is at a nascent stage, with limited internet retail sales, despite 38 million Internet Mobile users in the country. Globally, E-Commerce accounts for 15% of total retail, while this number goes down to 0.35% in the case of Pakistan.
Nevertheless, recent data shows positive trends in the E-commerce space of Pakistan. Four sectors, namely Fashion and Beauty, Electronics and Physical Media, Food and Personal Care, Furniture and Appliances, have witnessed at least 100 percent growth in E-Commerce Sales.