Startups in Pakistan is a new word buzzing around the entrepreneurship ecosystems of the world. Recently, many young entrepreneurs have taken to the online business in Pakistan with their innovative ideas and creative outlook in the business environment.
Forgone are those days when Pakistanis looked towards foreign countries to initiate their startups due to their promising financial and infrastructural developments. However, the trends have been reversed after the Covid-19.
The jobless people with innovative ideas failed to set up innovative startups in Pakistan due to the lack of capital and the favorable environment. However, the current digital and creative Fintech resources have brought new opportunities for the young people of Pakistan. Ultimately, people in Pakistan are looking beyond real estate investment to earn higher returns with value-adding business.
The total Startups in Pakistan has crossed 3000 in 2021 and more businesses are joining this list in 2022. The international funding institutions have discovered potential and opportunities in Pakistani young people. The total startup funding in Pakistan has crossed the figure of $300 million, according to state bank of Pakistan.
This article will discuss some of the best startups in Pakistan that came into the limelight worldwide and made their way into the Forbes and Bloomberg lists. So, let’s discuss!
1. AIRLIFT TECHNOLOGIES
Airlift Technologies started their business in 2019 with a commitment to providing best customer service. Promising the logistics solutions within forty minutes made it the center of attention in Pakistan. As a transit company, Airlift Technologies failed to deliver because of the pandemic in 2019.
However, the failure didn’t stop the company from pursuing their business goals. Instead, they modified their business model slightly and started delivering goods to the customers in Lahore. It became a huge success and appeared at the top of the list of Pakistani Startups. Consequently, they received US $85 million at the beginning of their Pakistan startups funding journey.
2. CREDIT BOOK
The business becomes a success if you know the pulse of your audience and customers and deliver what they need right now. And this is how Credit book started their business using the best technology available. Moreover, they provided convenience to the small companies for bookkeeping digitally. Besides, they made the technology very easy with easy-to-use and intuitive features of app for people with no tech background. With $1.5 million funding, they based their business in Karachi and became a huge success instantly.
Taajir is based on delivering the untapped market potential in Pakistan. The retail market remained always neglected, and their services were lethargic before the Taajir- an online application. The B2B (Business-to-business) startup provided good services to the retailers and shopkeepers and provided the fastest delivery of the retail items at their doorstep with twenty0four hours. Moreover, the process was made transparent by the use of online tracking.
4. BAZAAR TECHNOLOGIES
Bazaar Technologies made its way into the largest untapped retail market. Connecting Karachi’s retailers with the wholesalers and retail owners made it the best business startup in Pakistan. Starting their Business-to-business services and using the best digital services to empower and digitize the merchants of Pakistan. This eCommerce business secured $6.5 million worth of funding for its innovative and flourishing ideas.
MedznMore is another successful venture but in the healthcare sector. Healthcare is the most neglected sector of Pakistan. And there’s a dire need to provide medical facilities to an ordinary person in Pakistan. For this, access to health care facilities needs to be made convenient and affordable. The main idea behind MedznMore is to make healthcare accessible and digitize it.
So, we can say that risk-taking and innovative startups in Pakistan have taken a road that will never end as creative ideas have received worldwide funding from many sources. Entrepreneurship mindsets have changed by the mushroom growth of the Pakistan startups in 2022, and people admire taking risks. It will help boost the economy of Pakistan and lead the tech world in the upcoming years.