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Funding Grants
BRIDGING THE FUNDING GAP FOR EARLY STAGE COMPANIES
Pakistan’s policy framework already offers vital support for early stage companies, but we can enhance this further by introducing:
Sophisticated Investor
Currently, to participate in early stage investment syndicates, individuals must qualify as sophisticated investors based on an income of $250K or assets worth $1 million. This rule excludes many knowledgeable and experienced individuals, like startup employees and senior leaders, who might have lower salaries due to equity-based compensation. By broadening the criteria, we can include more of these potential investors and strengthen support for early stage startups.
Broadening SIFC
We are excited to announce an expansion of Pakistan's angel investor tax incentive, aimed at Special Investment Facilitation Council (SIFC). By expanding the criteria for SIFC, we will enable a wider range of genuine startups to qualify for these incentives. Access to early stage capital remains a challenge in Pakistan, and enhancing the SIFC program will be a significant step forward. This broadened, high-quality, and easy-to-access SIFC scheme is set to boost the performance and support of early stage companies across the country, fostering innovation and growth in our tech sector.
TECH TRIUMPH: Pakistan's IT Sector Soars with Impressive Growth
Pakistan is thriving in IT sector, achieving a significant milestone with revenue of $1,151.956 million from various IT services during the first five months of the fiscal year 2023-24. This represents a notable growth of 5.89%. Pakistan's technological advancements are further underscored by its status as an associate member of CERN, one of the few countries to achieve this distinction. Additionally, Pakistan was ranked 88th in the Global Innovation Index in 2023, reflecting its ongoing commitment to innovation and development in the tech sector.