Pakistan is a promising market for start-ups because of its young ecosystem, a rapidly-growing digital economy and local technology clusters continuing to develop, according to a new report.
Magnitt, which launched the Pakistan Venture Investment report for the first half of 2020, placed the country fourth with Jordan after the UAE, Egypt and Saudi Arabia in Middle East and North Africa rankings.
Investments in Pakistani start-ups have seen continued growth, with a few notable exits and success stories resulting in an increased appetite for these firms from regional and international investors, the report said.
The focus of investors is still on the early stages as the country received US$10m investment in the January-June period, while the overall number of deals increased by 13% to 17% despite the impact of Covid-19.
