Invest2Innovate (i2i) proudly announces the initiation of the i2i Ecosystem project, backed by a substantial $500,000 USD commitment from the Visa Foundation. This transformative initiative aims to address critical gaps and reshape Pakistan’s rapidly growing entrepreneurial landscape, with a specific emphasis on boosting women entrepreneurship.
Pakistan’s burgeoning startup scene, predominantly led by entrepreneurs under the age of 30, has experienced significant growth. From an average annual investment of $10 million between 2016 and 2018, the funding landscape surged to $47 million in 2019, followed by a remarkable increase to $350 million in 2021. Despite this growth, Pakistani startups encounter challenges such as limited resources, fragmented ecosystems, skill gaps, lack of tailored support, restricted investor connections, and underdeveloped mentorship networks.
The i2i Ecosystem represents a proactive effort to comprehensively address three critical areas in the startup sector, providing holistic support to entrepreneurs. These include establishing a reliable data repository for informed decision-making, building networks to connect founders, investors, and industry experts, and introducing a unique cluster-based accelerator offering tools, skills, and education for sustainable growth.
Sana Khalid, CEO of Invest2Innovate, remarked,
“The current juncture presents an opportune moment for its launch, capitalizing on the nation’s transformative growth momentum and positioning Pakistan as a global force in innovation and entrepreneurship.”
She expressed excitement about the collaboration with Visa Foundation, aiming to foster a resilient ecosystem for shared success and meaningful impact.
Graham Macmillan, President of Visa Foundation, highlighted their core goal of supporting women and underserved entrepreneurs in the collaboration. Recognizing i2i’s expertise in leveraging networks and technical assistance, Macmillan emphasized creating a more inclusive entrepreneurial ecosystem.
The i2i Ecosystem project signifies the commitment of both Invest2Innovate and Visa Foundation to creating a sustainable, inclusive, and innovative future for Pakistan’s entrepreneurial community. This collaborative effort is poised to lay the groundwork for enduring positive change in the region’s startup ecosystem.
