Pakistan Startup Fund Sees First 10 Applications as Project Progress Reaches 24%

The Ministry of IT & Telecommunication has received 10 applications under the Pakistan Startup Fund, according to official documents.

The Pakistan Startup Fund project has a total cost of Rs. 3 billion. Cumulative expenditure so far stands at Rs. 132.84 million. The proposed demand for FY 2026–27 is Rs. 1 billion. Physical progress on the project has reached 24%, while financial progress remains at 5%.

The documents show that an Advisory Committee comprising 15 distinguished members has been formed to provide oversight and strategic guidance for the Pakistan Startup Fund. To ensure transparency and merit-based funding, a Grant Disbursement Strategy was developed through a specialized third-party consultant and is currently being implemented. A dedicated online platform has also been launched to allow rolling applications, and the 10 applications received so far are undergoing due diligence.

According to the documents, under the Bridge Start Pakistan initiative, an Expert Committee has been onboarded to provide technical evaluation and strategic direction. Work is also underway to build a strong support ecosystem, with more than 20 incubators and accelerators identified for potential collaboration. The initiative aims to strengthen linkages between startups and investors at both local and international levels.

The Pakistan Startup Fund is a flagship government initiative launched under the IT Ministry to strengthen Pakistan’s digital ecosystem by providing equity-free, non-dilutive grants to early-stage startups. The fund is being executed by Ignite National Technology Fund and was formally launched on January 9, 2024, in Islamabad. It was introduced to address the decline in startup funding and to encourage foreign direct investment.

Under the initiative, the government has committed to allocating up to Rs. 2 billion annually. The fund is designed as the last cheque in an investment round, contributing 10 to 30 percent of the total investment after a private venture capitalist has committed funding.