With Pakistan’s population expected to reach 210 million by 2020, experts term the world’s sixth most populous country as a perfect place for startups to launch their businesses, says the World Startup Report, a Silicon Valley-based organisation.
In a recently released report titled the Pakistan Startup Report, the organisation reveals the potential the Pakistani market possess. A hypothetical online-market comparison was drawn keeping in view the expansion of the industry at current pace to become a lead player in the future.
According to the report, 136.5m mobile phone users 110m were likely to subscribe to 3G/4G by 2019, with the issuance of license for the third and fourth generation network in the country and the services’ increasing popularity among users.
The report also quoted 12,500 Pakistanis working in the Silicon Valley, imparting their skills to technological advancements taking place across the globe.
There is hope that if the trend in working for corporations is shifted to setting up individual businesses, it would act as a booster not only in terms of individual growth but is also expected to effectively exploit a massive 180m population to its maximum, benefiting the country’s economy at large.
The report quoted that educational institutes such as Lahore University of Management Sciences (LUMS) and Institute of Business Administration (IBA) encourage their students to become entrepreneurs, deeming it a step in the right direction.