PITB signs mou with PSX for Startups

The 4th PITB Roundtable IT Industry Conference resolved to launch National Entrepreneurs Network (NEN) to provide a forum for all leading incubators, accelerators, and VC firms to join hands to further promote this fast evolving sector.

National Entrepreneurs Network (NEN) will be a national association that shall provide a collective voice to the national entrepreneurial ecosystem. Under the NEN, PITB partnered with Pakistan Stock Exchange (PSX) to introduce small cap IPO regime for startups to raise investment from the market.

A Memorandum of Understanding (MoU) was signed between PITB and Pakistan Stock Exchange to provide a platform for Startups listing for Initial Public Offerings (IPO) for raising investment from the market for those who have funds up to the tune of Rs.20 million to Rs.200 million.

The Conference held under the auspices of the Punjab Information Technology Board (PITB)’s project TechHub was opened with a keynote address by Dr. Umar Saif Chairman PITB here today.

Over the last couple of years, the Conference has emerged as a unique platform for the entire IT fraternity of Pakistan for brainstorming and to voice their concerns on issues of key importance in IT space.

With a diverse group of professionals consisting of academia and thought-leaders, the government collects feedback on various fronts and projects that have been initiated or are in the pipeline.

This Roundtable marked a significant step in the history of Pakistan’s IT sector’s development by launching the first nationwide IT Census.

Dr. Saif announced the commencement of the census drive, wherein the first phase data from more than 3000 IT companies, 2500 partnerships and sole proprietorships, 750 startups and more than 5000 freelancers shall be documented.

Dr. Saif said that IT Census holds high importance for our IT sector by providing reliable and verifiable data to help make accurate projections. A delegation led by the Chief Minister Punjab Muhammad Shehbaz Sharif to visit China soon to include I T sector in the China-Pakistan Economic Corridor (CPEC), informed Dr. Saif.

In his address, the Advisor to the Chief Minister and the Chairman PITB Dr. Saif announced the establishment of IT advisory committees to provide a formal role for the industry, academia and other stakeholders in policy making.

Under the umbrella of IT Advisory Committee, five different committees are being set up with different agendas including IT Census Committee, Industry – Government Liaison Committee, Academia – Government Liaison Committee, Digital Advocacy Taskforce and Human Resource and Capacity Building committee.

Dr. Saif also emphasized the importance of reducing the digital divide by promoting e-literacy with the establishment of e-Rozgaar training centers in 36 districts, which will train more than 10000 graduates for online freelancing.

He invited the industry members to contribute in the setting up of the local marketplace for these freelancers. He also announced that PITB will partner with ITU and industry members to offer internationally recognized training and certifications to bridge the gap between labor force and the industry.

ITU recently partnered with edX to integrate online courses from the world’s best universities into its degree programs. Looking at the entrepreneurial scene, ITU also offers Executive MBA in Innovation, Technology & Entrepreneurship (EMBITE).


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