ISLAMABAD: Pakistan has launched the Quantum Valley initiative to support technology startups, connect Pakistani entrepreneurs with global markets and provide young innovators with opportunities to scale their businesses internationally.
The initiative has been launched in partnership with global innovation platforms Plug and Play and Cambridge Innovation Center (CIC) as part of the broader Uraan Pakistan programme.
Speaking at the launch, Plug and Play Tech Centre Managing Director Seena Amidi said the company would work with Quantum Valley to help Pakistani entrepreneurs develop and expand their businesses.
Amidi said Plug and Play, which was established in Silicon Valley in 2006, had been created to support entrepreneurs from around the world.
He said startups generally faced several challenges, including raising funds, finding customers and building strong teams.
“The biggest challenge every startup faces is team members. It is human capital helping them grow,” he said.
Amidi said Plug and Play had expanded its operations beyond Silicon Valley to different countries to understand local cultures and adapt its model to different markets.
“I am very excited to partner with Quantum Valley in order to learn the culture of Pakistan and help Pakistani entrepreneurs succeed here,” he said.
He said Plug and Play would help Pakistani startups identify markets and expand their businesses while working with its partners to connect the country’s talent with the global business ecosystem.
Planning Minister Ahsan Iqbal said the initiative would create a new pathway for Pakistan’s technology and innovation ecosystem.
He said Plug and Play and CIC would bring international innovation expertise to Pakistan, providing local entrepreneurs with opportunities to take their businesses to the next level.
Iqbal expressed hope that the collaboration would help Pakistani technology entrepreneurs develop companies capable of competing in international markets.
He said the initiative was aimed at aligning Pakistan’s development with the demands of the 21st century, in which technology, knowledge and human capital had become increasingly important.
The minister said the facility would provide young Pakistanis with opportunities to pursue their ambitions in technology and startups without feeling disadvantaged compared with young entrepreneurs in other parts of the world.
He also highlighted the Global Acceleration programme, saying it would allow more Pakistani youth to benefit from international opportunities and help create globally recognised brands.
The Quantum Valley initiative is expected to strengthen Pakistan’s startup ecosystem by providing entrepreneurs with access to international networks, markets and innovation expertise while creating new avenues for technology-driven businesses to expand globally.