Exploring Pakistan's starter culture

Building a startup is a risky business. The chances of failure exceed those of success. Despite this, every year we see a lot of new ideas. However, there is always a trap. For startups to flourish in a country like Pakistan, an ecosystem that facilitates the development of innovative ideas is crucial. With 75 million people out of the 200 million residing in cities, the demand for new services is steadily increasing. 50% of this urban population is under 20 years old. Every year, Pakistan has more than 2 million new jobseekers in a market that lacks the infrastructure needed for young people to thrive. With such challenges, the culture of start-ups is the ideal solution: to enable new businesses to thrive while creating employment opportunities.

Exploring Pakistan's starter culture

However, according to a report on Pakistan's digital business ecosystem, fewer than five of the more than 300 new digital businesses launched in Pakistan each year are viable because of the fragmented and immature digital services market. For a young aspiring company to be sustainable, the most critical element is the ability to deliver solutions that add value. Xylexa is one of these startups, led by a team of young entrepreneurs who have developed a cloud-based, AI-based tool to aid in early detection of cancer and mammography diagnosis.

So far, the startup has achieved a 90% accuracy rate in breast cancer detection, filling a gap left untouched before. Xylexa won the UberPitch 2018 competition, a national competition aimed at enabling aspiring technology starters to be guided by experienced trainers and ultimately judged by investors and mentors. After winning UberPitch, Xylexa then made contact with a global community of entrepreneurs at the ArabNet exhibition exhibition in Beirut, Lebanon in June 2019.

"Building a start-up from scratch creates a multitude of challenges, especially in Pakistan, where there is a major gap in facilitating budding entrepreneurs," said Shahrukh Babar, CEO of Xylexa. "We were fortunate to have access to platforms like UberPitch, which put us in touch with a global community of entrepreneurs."

However, many startups still struggle to find access not only to potential investors, but also to mentors who can guide them in realizing their business ideas.

The technology sector has only recently become aware of this gap and has made efforts to facilitate the culture of start-ups in Pakistan. National incubation centers of the government played a major role in this regard. Initiatives such as WeCreate, IdeaGist, Jazz xlr8 and many others have also played a vital role in creating a space for the emergence of new startups and presenting their ideas to potential investors.

Despite the efforts, many start-ups struggle to find the right kind of mentorship to realize their business ideas. However, with platforms like UberPitch, we are seeing steps in the right direction as young innovators move into previously unexplored areas.