HASSAN ABBAS

LAHORE: The private sector of Austin has shown its interest for investing 20 million dollars in the projects of young Pakistani entrepreneurs who will graduate from the Plan 9 and Plan X incubators run by the Pakistan Information Technology Board.

This was disclosed by Alicia Dean, ATX+PAK programme creator, Senior Public Information Specialist, City of Austin, Texas, during a meeting with select group of journalists on Wednesday. She said investors in Austin are anxious to work with Pakistani Start Up’s. She also said that the programme intends to provide exposure to Pakistani start ups enabling them to think in a global dimension, and manage their businesses accordingly. The programme also aims to connect entrepreneurs in Pakistan to mentors, strategic partners and investors based in Austin, Texas.

She said this exchange programme is going on for three years and every year 80-90 start ups and representatives of more than 30 companies visit the USA. She said due to this collaboration more start ups will be produced. She said this program will strengthen the local start up ecosystem in Pakistan.

She also said that almost 22 companies at Plan 9 have pitched in almost 70 per cent of their revenue while 160 start ups have been graduated up till now. The net value of these companies is 70 million dollars.

She also said that mayor of Austin, Steve Adler, has also endorsed this programme and he himself is taking interest in it.

Alica Dean said this programme will accomplish several goals which include bringing awareness about creative talent, production, and potential growth opportunities in Pakistan to Austin Entrepreneurs, encourage collaboration between entrepreneurs and start-ups incubators accelerators in Austin & Pakistan to foster growth in both communities.