KARACHI: The Securities and Exchange Commission of Pakistan (SECP) on Monday inaugurated Pakistan’s first-ever startup summit to empower innovation and economic growth.

On the first day of the event, overwhelming participation was received from policymakers, startup founders, international speakers, and stakeholders who shared insights on fostering a robust and resilient startup ecosystem in Pakistan, according to an SECP press release.

The summit featured a video address by Finance Minister Mohammad Aurangzeb emphasising the government’s commitment to fostering innovation as a crucial driver of economic growth.

He praised SECPs proactive regulatory measures, including the Regulatory Sandbox and simplified incorporation processes, which enhance financial inclusion and support startup growth across fintech, digital finance, and other high-impact sectors.

SECP Commissioner Mujtaba Ahmad Lodhi delivered the welcome address, emphasising the importance of collaboration in building an inclusive ecosystem for entrepreneurs.

Mr Lodhi also highlighted SECP’s commitment to creating a space for strategic discussions to strengthen the foundation for innovation.

In his keynote, SECP Chairman Akif Saeed addressed the unique crossroads faced by Pakistan’s startup ecosystem, acknowledging both challenges and unprecedented opportunities. “Our goal at SECP is not merely to adapt to change but to drive it by building systems that empower our innovators, ensuring a stable yet dynamic environment for growth,” he added.

He highlighted key SECP initiatives such as the regulatory sandbox and LEAP, which aim to transform Pakistan into a regional innovation hub by unlocking potential in fintech and embedded finance.

The summit’s first day featured six pivotal panel discussions, each addressing crucial areas for strengthening Pakistan’s startup landscape.

Published in Dawn, November 12th, 2024