500 Global, a leading international venture capital firm, is exploring investment opportunities in Pakistan to support and promote the burgeoning tech startup ecosystem in Pakistan.
A high-level delegation of 500 Global, led by its Managing Partner Courtney Powell, on Friday met the chairman of Special Technology Zones Authority (STZA), Amer Hashmi, and his team at STZA’s Office in Islamabad.
In the meeting, Powell agreed to work with STZA to identify and explore investment opportunities in local tech startups and promote a technology-driven knowledge ecosystem, a statement issued on Friday said.
Ms. Powell and her team are visiting Islamabad on STZA Chairman Amer Hashmi’s invitation. Hashmi had invited Ms. Powell in Dubai last month to visit Pakistan and meet local startups and incubators, and other stakeholders in the public and private sector that are working towards technology-driven growth in the country.
In the meeting held at STZA’s Office, Ms. Powell apprised Mr. Hashmi of her experience visiting Pakistan’s burgeoning tech startup community. She also discussed how her company can support and mentor local startup founders to foster their ventures, and 500 Global’s plans to explore investment opportunities in the country.
“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,” said the 500 Global Managing Partner.
Hashmi and his team briefed 500 Global about the Pakistan Government’s initiative to attract foreign direct investment into the country through the creation of Special Technology Zones (STZs).
The STZs will also “allow technology transfer, boost technology exports, prioritize research & development, and foster job creation for Pakistani youth.”
STZA and 500 Global agreed to collaborate in identifying and exploring areas of mutual interest to promote a tech-driven knowledge ecosystem in Pakistan.