IT Ministry Aims To Launch BridgeStart To Support Pakistani Startups
The Ministry of IT and Telecom is wrapping up to launch the International Startup Exchange Program, dubbed BridgeStart Pakistan. The all-new initiative will provide Pakistani startups with a distinctive opportunity to engage with top-ranked international incubators and accelerators. Reports claim that Pakistan’s government officials have outlined this program. It will be instrumental in promoting greater collaboration and innovation within the Pakistani startup ecosystem. It is pertinent to mention here that startups will be shortlisted via a rigorous selection process. After selection, Pakistani startups will be able to participate in the exchange program. The Government of Pakistan will fund their overseas visits.
BridgeStart Pakistan: An Initiative to Foster Collaboration Within the Startup Ecosystem
Dr Umar Saif, Caretaker Minister of IT & Telecom, and Science & Technology shared the significant development in a post on social media. He stated:
“Great news for Pakistani startups with global ambitions. We approved a new program called BridgeStart to fund 100 startups each year. They will be incubated/accelerated in any of the top 40 incubators/accelerators all over the world”
Sources claim that the selected startups will be fully engrossed within dynamic innovation ecosystems during their time abroad. They will be able to gain priceless insights into the daily operations, collaborative spirit, and innovation culture that steer successful startups globally. According to MoITT officials, Pakistani startups have been facing several challenges associated with limited international exposure for many years. Moreover, these startups are operating within an isolated ecosystem due to which they often flounder to benchmark against global standards and best practices. It restrains their ability to create globally competitive products and services.
The newly announced initiative, BridgeStart Pakistan, is no doubt a significant step towards addressing these longstanding challenges. Moreover, it aims to unlock unprecedented opportunities for Pakistani startups. Ministry officials claim that Pakistani startups made significant strides in 2023, attracting a substantial $75.6 million in funding. It hints at the potential and significance of the startups in driving economic growth and innovation. That’s why Pakistan’s government is committed to supporting them through initiatives like the BridgeStart Pakistan program. So, let’s wait and watch what happens next. Stay tuned for more updates!
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