The yellow brick road of startups

As a journalist who transitioned from covering sports to business in Pakistan, I have seen the country bask in global recognition for its many achievements. Pakistan still holds the record for the highest number of titles in the British Open, once considered the de facto world championship in squash. It dominated hockey for decades and still holds the highest number of World Cup titles. Who could forget the unbridled cricketing joy when Pakistan rose above adversity to lift the 1992 World Cup? These successes put Pakistan on the international map for all the right reasons. Unfortunately, poor geopolitical choices turned these success stories into forgettable history. The case for startups Since 2015, Invest2Innovate has been tracking funding in Pakistan’s startup ecosystem. One decade later, the total funding has barely crossed the $1bn mark. Despite low funding and infrastructure challenges, startups show immense potential and could re-write Pakistan’s future if properly supported Much of this funding remains parked abroad, however. It is not because of startups or investors but rather due to a volatile exchange rate and challenging regulations, particularly for profit repatriation. These systemic issues highlight why fostering a startup ecosystem is crucial for Pakistan.