STAFF REPORT: Global venture capital firm, 500 Global, has appreciated the government of Pakistan for introducing incentives in Special Technology Zones (STZs).
As per the details, a high-level delegation from global venture capital firm 500 Global visited the Special Technology Zones Authority (STZA) in Islamabad to meet with Chairman STZA Amer Hashmi and his team.
The delegation included Chief Operating Officer and Managing Partner Courtney Powell, Board Member Max Scheder-Bieschin and Alysia Lopez, Executive Assistant to 500 Global’s CEO Christine Tsai and Powell.
It is pertinent to note that Powell had previously met with the STZA delegation last month in Dubai to discuss investment opportunities and the burgeoning tech startup ecosystem in Pakistan.
The STZA chairman invited Powell for a visit to Pakistan to meet startups, incubators, local venture capitalists, and other stakeholders in the public and private sector that are working towards technology-driven growth in the country.
As per the details, the two sides discussed the global venture capital’s experience visiting the tech startup community in the country besides the support and mentorship that 500 Global can provide to startup founders to scale their ventures, and the firm’s plans to explore investment opportunities in Pakistan.
Both parties agreed to work together to identify and explore mutual areas of interest to foster innovation and promote a technology-driven knowledge ecosystem.
The STZA team briefed 500 Global about the STZs created by the government to attract foreign direct investment, allow technology transfer, boost technology exports, prioritize research & development, and foster job creation for Pakistani youth.
The STZA aims to build knowledge ecosystems that will harness Pakistan’s technology potential and set the country on the trajectory of an entrepreneurial, innovative, and tech-driven future for shared prosperity and inclusive growth.
“We welcome 500 Global to Pakistan and look forward to working closely with them to support the startup and technology sector in Pakistan,” said STZA chairman.
Powell, noting the government’s commitment to facilitate the growth of the country’s high-potential technology sector, said, “We met fantastic founders in Pakistan during our visit and truly appreciate the incentives that the government has offered in its Special Technology Zones. The visit has also helped us understand how we can equip founders to establish themselves on a global level.”
