The Securities and Exchange Commission of Pakistan (SECP) has launched a startup portal to encourage technology innovation in Pakistan.
SECP Commissioner for Information System and Technology Department, Shauzeb Ali inaugurated the portal during the ‘Startup Grind Pakistan’ conference in Islamabad.
The portal features a list of startups, simplified user experience for registration, access to mentors and incubation centers, online guides and video tutorials for startups.
“The SECP startup portal will be a gateway to information and collaboration hub, for the facilitation and uplifting of the existing and future entrepreneurs to connect and excel”, Shauzab Ali said while talking at the Startup Grind conference.
He hoped that the portal will evolve with time as an important part of the startup ecosystem in Pakistan. A large number of entrepreneurs, innovators and technologists attended the conference to share their stories and inspire young entrepreneurs.
In this regard, SECP has instituted various reforms to develop a comprehensive and coherent industry policy to shape regulatory thinking and promote a conducive fin-tech environment in Pakistan. This will help attract local and international innovators.
SECP is also reviewing the Companies Act to facilitate startups and provide an enabling environment to innovative entrepreneurs, amending the Private Equity and Venture Capital Regulations, drafting Equity Crowdfunding Regulations, setting up facilitation desks at CROs and launching the first-ever Regulatory Sandbox in Pakistan.
Pakistan is the world’s 26th biggest consumer market and its startup sector reflects this. E-commerce, food delivery and ride-hailing services are common and several have been attracting international attention.
With the objective to promote growth in the startup sector of Pakistan and as done by many developed countries like Canada, the UK, France, and the US, SECP is taking various initiatives to create an enabling regulatory framework for facilitating startups in Pakistan.