The Securities and Exchange Commission of Pakistan (SECP) extended its flagship “JamaPunji” investor awareness drive to the young men and women entrepreneurs of the Gilgit, Baltistan and Chitral (GBC) region.
According to SECP press statement, it accomplished this by participating in the Aga Khan Development Network (AKDN) â€˜Prosperity Cupâ€™ that was made possible through the collaboration of The Indus Entrepreneurs (TiE) Islamabad and Aga Khan Rural Support Program (AKRSP).
The Prosperity Cup invited more than 50 startups from the GBC region that were shortlisted from 3,000 applicants, the statement added.
They were given focused mentoring and coaching by seasoned entrepreneurs from all over Pakistan over a course of several months.
Five finalist startups will be given financial support and professional advisory to ensure success of their respective ventures through this initiative.
The workshop was the third of a series of such workshops conducted in Gilgit during which participating startups were shortlisted through a process of elimination based on careful assessment of the progress they were supposed to have made based on guidance given to them during previous sessions.
The SECP’s senior officers gave the participants detailed understanding of their organizationâ€™s continuing efforts to assist the growth of the entrepreneurial eco-system of Pakistan through such collaborative efforts quoting examples of several recent events and activities which include collaborative activities with HEC and TiE.
During the session, participants were given succinct information on the process, requirements and benefits of incorporating their respective businesses.
The participants were informed of recent reforms, and changes in rules and regulations, which facilitate swift incorporation.
They were also informed of the SECPâ€™s measures, which encourage sole proprietors to register their businesses as single member companies with fewer requirements and low fees.
The interactive session conducted by the SECP was attended by TiE charter members, established entrepreneur mentors and coaches, teams of shortlisted startups of the Prosperity Cup and senior academics of the Office of Research, Innovation and Commercialization (ORIC) from Karakoram International University Gilgit-Baltistan.
The SECP confirmed its full support to all participants by stationing staff at its Gilgit office for their assistance.
The participants appreciated the SECP’s role as a key enabler in the development of the entrepreneurial ecosystem of Pakistan and welcomed its participation in future events. (APP)