Two years ago, Plan 9, an incubator for the Punjab Information Technology Board (PITB) and 1839 Ventures, an investment group based in Austin, TX, with assistance from state authorities in the US, launched the ATX-PAK Exchange Program. The initiative allowed promising Pakistani youth to fly to the US and receive investment advice and mentorship from experts in Austin.
After the program, these youth were allowed to pitch their ideas for startups to US-based investors during an international annual investment-seeking event.
“Almost seven out of ten of all Pakistani startups that went through the mentorship program secured investments,” observed Dean, noting that this figure was higher than that of all other nationalities represented at the event, “they simply impressed the investors.”
Interest in the Plan 9 initiatives was also due to the fact that investors are now drawn towards more technology-based startups. With more Pakistani youth embracing the use of original technology-driven ideas in startups, the potential for the country’s startup atmosphere is gaining international recognition.