From incubation to acceleration, are Pakistani ESOs really serving the startup ecosystem?

As we enter 2024, Pakistan's once-promising startup scene finds itself in the midst of an investment winter. Venture capital and private investors, once eager to tap into the potential of this emerging market, have largely retreated. The funding slowdown that began in 2023 has now ground to a halt, with the first two quarters of 2024 passing without any substantial funding rounds.

For Pakistani startups, this drought presents a formidable challenge. Limited dry powder, erratic macroeconomic indicators, and unpredictable government policies have created a perfect storm of adversity. Yet, in this tumultuous landscape, a beacon of hope emerges: the country's network of incubators and accelerators.