Mr. Suleman Chawla, Acting President FPCCI, has advocated that Pakistan Stock Exchange (PSX) should facilitate and enable Pakistani IT, FinTech, Software Houses and other tech firms to enlist with PSX; and, take the internationally-proven route of Initial Public Offering (IPO) to generate capital for rapid scaling-up domestically and establishing their footprint internationally as well.
It is pertinent to note that FPCCI hosted 20 prominent Pakistani startup companies in tech sphere at its Karachi Head Office under the umbrella of its Pak – UK Business Council (PUKBC); which had collaborated with ASPIRE Pakistan and Pak Angels platforms for the promotion of venture capital mobilization; entrepreneurship development; international business networking and fostering startup ecosystem as a whole.
Mr. Farrukh H Khan, MD PSX, apprised that, under the auspices of FPCCI, high-potential startups got the opportunity to showcase their work; and, pitch their ideas to the potential investors& venture capitalists. He also highlighted the option of capital formation through PSX; while talking about Growth Enterprise Market (GEM) board; and, how growth enterprises & mature startups could use the option of raising funds through listing.
While talking about listing on GEM board, MD PSX briefly touched upon the benefits that GEM board offers in terms of having a large pool of investors; and, a structured framework that exists for foreign investors – which the startups can pitch & attract. Additionally, to inspire the participating startups, he mentioned the example of one local successful startup Cloudways; and, informed that it was acquired by a US-based company for $350 million.
Mr. Imran Khalil, Chairman of Pak – UK Business Council (PUKBC) of FPCCI, apprised that the collaboration between PUKBC, Aspire Pakistan and Pak Angels emphasizes a shared commitment to fostering an angel investment culture in Pakistan on the lines of international best practices and cultivating partnerships between Pakistan & UK-based enterprises. This collaborative event aims to provide a platform for engagement with the growing trend of startups for a country’s economic growth; facilitating the sharing of essential knowledge for investing in startups and exploring growth opportunities for Pakistani startups on a global-scale.
Mr. Hassan Syed, Chairman of ASPIRE Pakistan, maintained that the business, industry and trade community of Pakistan should be engaged for the successful transformation of Pakistan into a knowledge economy and startup-friendly nation – as the resources, linkages and experience of the business community can provide all the required support Pakistani startup companies need to expand and export their services to the world.
Mr. Anwar Khan, President of Pak Angels & a renowned Silicon Valley entrepreneur, explained the process of investing into startups; and, more importantly, the attractive rates of return these companies offer – which make them strategically valuable investment decisions.