News, Startups

SECP’s startup portal encourages technology innovation in Pakistan

Written by AbuBakar ·  1 min read >

Security Exchange Commission of Pakistan (SECP) has launched a new startup portal to encourage technology innovation in the country.

SECP Information System and Technology Commissioner Shauzeb Ali inaugurated the great initiative at the ‘Startup Grind Pakistan’ conference in Islamabad. The portal has many features including startups, access to mentors and incubation centers, simplified user experience for registration for startup companies and guides with video tutorials for starters.

Shauzeb was hopeful about the future of the portal, as he said “The SECP startup portal will be a gateway to information and collaboration hub, for the facilitation and uplifting of the existing and future entrepreneurs to connect and excel.”

A large number of entrepreneurs, technologists, and innovators were gathered under one roof to share their ideas and stories to encourage young entrepreneurs. The statement issued after the event says

“SECP has instituted various reforms to develop a comprehensive and coherent industry policy to shape regulatory thinking and promote a conducive Fintech environment in Pakistan. This will help attract local and international innovators,”

Shauzeb highlighted that Pakistan has done a great job in regards to producing young entrepreneurs and many public sectors including SECP has done great work to encourage investment in the country.

“The SECP is also reviewing the Companies Act with an objective to facilitate startups and provide a conducive environment to young innovative entrepreneurs, amendments in Private Equity and Venture Capital Regulations, draft Equity Crowdfunding Regulations, setting up facilitation desks at CROs and launching of first-ever Regulatory Sandbox in Pakistan,” he added.

Pakistan has improved a lot in the ease of doing the business rating, World bank ranked Pakistan at 108 this year as compared to 136 from last year. Pakistan is also expected to become one of the world’s top economies in the coming future. It has great potential for new entrepreneurs to start their business as it is also the world’s 26th biggest consumer market. It has great potential in E-commerce and other online services.