Pakistan is on the verge of becoming a strong technology ecosystem, according to Arsen Tomsky, CEO of inDrive. A new report, “The Rapid Rise of Pakistan Tech,” released by inDrive and Dealroom.co, highlights substantial growth in the country’s startup scene, with the combined enterprise value exceeding $4 billion since 2020.

The report notes that Pakistan shares similarities with other emerging markets, highlighting the potential for growth driven by capable founders and an evolving startup environment. It ranks well compared to established markets, with 81% mobile broadband coverage and a young workforce of 59% aged 15 to 64.

While international interest in sectors like fintech and mobility is growing, Pakistan still faces a funding gap, attracting only about $57 million in startup capital compared to India’s billions. The report also indicates high potential for women-led startups.

Overall, Pakistan’s startup ecosystem is entering a crucial phase, driven by growing founder experience and a surge in startup activity across sectors such as fintech and health technology.