KARACHI: The Securities and Exchange Commission of Pakistan (SECP) Pakistan start-up summit concluded on Tuesday.
The second day of the Summit continued to generate immense enthusiasm and engagement. Policymakers, start-up founders, international speakers, and other key stakeholders actively participated in insightful discussions and knowledge-sharing sessions.
The event further solidified its position as a pivotal platform for fostering innovation and economic growth in Pakistan. The day commenced with a welcome address by SECP Executive Director Khalida Habib, who reflected on the previous day’s journey to explore opportunities and challenges for Pakistani start-ups. Habib emphasized SECP’s dedication to fostering a sustainable and resilient ecosystem through technology, policy, and partnerships, encouraging participants to engage fully in discussions around digital finance, regulatory sandbox initiatives, and data-driven innovation.
In his keynote address, SECP Commissioner Abdul Rehman Warraich highlighted SECP’s ongoing commitment to creating a regulatory environment that encourages entrepreneurial growth. He introduced the recent establishment of SECP’s Innovation Office, a ground-breaking initiative designed to provide start-ups with regulatory guidance, mentorship, and insights, thereby lowering barriers and enabling sustainable growth. He also underscored the importance of digital transformation and financial inclusion, discussing the SECP’s regulatory sandbox, which has fostered advancements in digital payments, peer-to-peer lending, and alternative financing models.
A series of presentations followed, including a video on SECP’s regulatory sandbox journey and insights into Pakistan’s digital payment ecosystem, Raast P2M, and the Pakistan Digital Stack.
Musarat Jabeen, SECP Executive Director, also delivered an impactful presentation preceding the official launch of the SECP Innovation Office.
On the second day of the Pakistan Start-up Summit, attendees engaged in seven impactful panel discussions exploring crucial themes for the country’s start-up ecosystem. The panels began with “Unlocking Innovation: SECP’s Regulatory Sandbox Journey,” where experts shared insights on SECP’s sandbox as an innovation catalyst and discussed the role of the Innovation Office in balancing creativity with compliance. In “Unlocking Big Data’s Potential: From Insight to Innovation,” panellists examined how data analytics is driving growth across sectors like finance, logistics, and digital services, while underscoring data’s potential for competitive advantage and social impact.
The need for robust data protection was emphasized in “Balancing Risk and Opportunity: Data Protection in a Connected World,” where strategies for enhancing cybersecurity without stifling innovation were shared. “From Start-Up to Scale-Up” highlighted the cultural and operational shifts necessary for start-ups to scale, focusing on team dynamics and leadership. In “Bridging Gaps with Embedded Finance,” panellists discussed how embedded finance can foster interoperability across industries, creating a more inclusive financial ecosystem. The discussion continued with “Innovative Financial Solutions in the Digital Space,” spotlighting how digital platforms are transforming SME and education financing as well as fractionalized products like gold-based investments.
Finally, “Peer-to-Peer Lending: Unlocking Alternative Financing” examined the role of P2P lending in broadening credit access for individuals and businesses, supporting financial inclusion and reshaping Pakistan’s financial landscape. Together, these discussions underscored SECP’s commitment to building a progressive, inclusive, and tech-driven start-up ecosystem in Pakistan.
In closing, SECP Commissioner Mujtaba Ahmad Lodhi reflected on the summit’s achievements, emphasizing key themes such as the need for diverse and sustainable funding, the role of digital innovation, and long-term regulatory support for start-ups. He noted the importance of a shift towards fostering an entrepreneurial mindset and highlighted SECP’s commitment to enhancing data protection, cybersecurity, and transparency within Pakistan’s start-up ecosystem.
The Pakistan Start-up Summit 2024 has proven to be a landmark event, bringing together leaders, visionaries, and innovators to shape a brighter future for Pakistan’s start-ups. SECP looks forward to continuing its collaboration with all stakeholders to empower innovation, support entrepreneurs, and build a resilient ecosystem that positions Pakistan as a global player in technology and innovation.
Copyright Business Recorder, 2024
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