US Embassy Cultivates A Vibrant Entrepreneurship Ecosystem In Pakistan

News Desk

Islamabad: The US Mission to Pakistan is proud to be part of cultivating a vibrant ecosystem of entrepreneurship in Pakistan and empowering young people to dream big, take risks, and become the job creators and change-makers that Pakistan needs, said US Embassy Deputy Chief of Mission Andrew Schofer.

Speaking at the grand finale event of ‘Rising Stars of Pakistan’, Andrew Schofer stated that Pakistan is a country with tremendous potential in various sectors, including textiles and agriculture, offering diverse economic opportunities; however, the country needs innovation and technology to become truly competitive.

Rising Stars of Pakistan is a start-up competition for women and minority entrepreneurs that was held under the auspices of the United States Embassy and the National University of Science and Technology (NUST) to award seed financing for the top business ideas.

Since 2012, the US Embassy has funded over 181 entrepreneurship-related projects valued at $14.7 million.

NUST Pro-Rector Dr Riaz expressed appreciation for the ongoing collaboration between the US Embassy and NUST to foster diversity and inclusion and to increase the presence of diverse leaders in the entrepreneurial sector in Pakistan that contribute to Pakistan’s long-term economic growth.

Dr Riaz further stated that more than 800 emerging start-ups competed through the various competitions, resulting in an opportunity for the top 26 emerging entrepreneurs to travel to Islamabad to present their ideas at the grand finale event.

The finalists include 23 women, two men, and one transgender person.

The finalists represented a range of religious and ethnic backgrounds, highlighting the competition’s commitment to promoting inclusion and fostering a diverse entrepreneurial ecosystem.