Tag Archives: entrepreneurial ecosystem

Pakistan’s Future: Youth Entrepreneurship in the Tech Industry

P@SHA workshop with Jawwad Ahmed Farid (center) and Karachi School for Business & Leadership students.

P@SHA workshop with Jawwad Ahmed Farid (center) and Karachi School for Business & Leadership students.

What are the necessary steps to take an idea from conception into a commercial reality? How do you strategize and pitch a business idea to a potential investor? How do you select good talent and put together a team? According to CIPE partner Pakistan Software Houses Association for IT & ITES (P@SHA), young aspiring entrepreneurs in Pakistan are full of questions like these.

Entrepreneurs are desperately needed for Pakistan’s future. The country currently faces two significant challenges: a youth bulge and a slow growth.

Today, youth under the age of 30 make up an astonishing two-thirds of the total population.  Coupled with this is a slow economy—Pakistan is experiencing limited GDP growth—and the business community and the public sector simply cannot provide enough jobs for employable youth. As a way to address these issues, P@SHA led an eight-month youth entrepreneurship program targeting university students in the technology field.

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The Power of Failure

Inventors tried hundreds of designs before the Wright Brothers made powered flight practical.

Inventors tried hundreds of designs to make flying machines practical.

Looking at the glittering corporate campuses of booming technology startups in places like Silicon Valley, Boston, or North Carolina’s Research Triangle, it is easy to see nothing but success. But one of the secrets of entrepreneurship is that all of these successes are built on a culture that embraces failure.

It is a surprising truth borne out again and again by business researchers: the places where entrepreneurs have the most success are the ones where it is least painful for entrepreneurs to fail. Only a system that allows individuals to take great risks will see the great rewards that come from truly path-breaking innovation. As Jonathan Ortmans puts it, “the ideal environment for innovation not only celebrates success, but also accepts—if not encourages—failure.”

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