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. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
