Innovative startups often play a key function in developing countries like Pakistan. There are a variety of consumer needs that often remain unaddressed by conventional models of business, which then creates large spaces in the market for innovation and creativity. These gaps are often identified and filled by motivated and innovative entrepreneurs, who thrive at tapping into the latent wisdom and creativity embedded in society to, often, revolutionize the way markets are seen. Pakistan is no exception- given poor models of service delivery by the government, and a general dearth of unconventional ideas, the country withholds tremendous potential for innovative startups. New generations are now tapping into these spaces, creating thriving markets, but most importantly, playing an essential role in empowering Pakistani society at large. Here’s our list of the top 5 startups in Pakistan:
Rizq was founded with the heartwarming objective of ending hunger in Pakistan. Spearheaded by three students from Lahore, the enterprise attempted to resolve food shortage by addressing food wastage, offering pickup services for events where tons of usable food was disposed. They have now expanded tremendously, offering free-of-cost school lunches, ration, and meat to deserving individuals across the country. Rizq is a one-of-its-kind social enterprise and seeks to revolutionize the way food provision and wastage is seen in Pakistan. Amongst other things, it foremostly seeks to alleviate the rampant food insecurity that plagues that country, which is tremendous given how poorly the government has addressed such concerns. Rizq is exemplary of the kind of social entrepreneurship that the country desperately requires; given Pakistan’s economic situation, the need for organizations such as Rizq will only increase.
While there are dozens of e-commerce sites in Pakistan, Daraz has essentially taken the market hostage, and now dictates the terms of the game. Currently the most extensive and widespread e-commerce site in the country, Daraz was recently acquired by e-commerce giant Alibaba for $150 million, which is a tremendous amount for an e-commerce website in a country where less than a quarter of the population has internet access.
Daraz is now host to a plethora of e-commerce services, ranging from groceries to animals for Eid. Most e-commerce websites on the market now follow its lead in development, particularly because Daraz has provided a platform to radically expand the consumer base of localized vendors. Daraz’s services expand across the country; their delivery networks are expansive and localized, and they aim to replicate the likes of Amazon and eBay at the national level. By carefully integrating the best practices of e-commerce and the socio-economic specificities of Pakistan (such as its reliance on Cash on Delivery), Daraz has projected itself as the pioneer in transformative entrepreneurship in Pakistan.
SeedOut is another example of social entrepreneurship that addresses serious issues in the country with out-of-the-box innovation. In essence, SeedOut provides interest-free microfinancing through crowdfunding, skillfully connecting the impetus for charity and the need to empower small businesses. Through this, SeedOut not only multiplies entrepreneurship in the country but also plays an essential role in empowering people and transforming lives.
To date, SeedOut has disbursed 51.1m rupees with a repayment rate of 97%, helped empower 656 entrepreneurs, and impacted 3280 lives. The organization seeks individuals trying to start small businesses, and through its extensive network of donors, finds enough money for their businesses to run. This money is provided in the form of a loan, and the returned payment is used either to fund new projects or to provide more loans. The organization is still in its rudimentary phases but exhibits great potential by linking those in need with those who are willing and able to help. Focused primarily in rural Punjab at the moment, SeedOut seeks to expand throughout the country, bolstering its networks of budding entrepreneurs and generous donors.
Seeking to emulate the likes of Coursera and Khan Academy, Nearpeer was created out of a dorm room and is now funded by Plan9, a startup incubator. The website/application provides student-led assistance for courses offered at different universities across the country, seeking to assist those who are struggling with classes, professors, or just need to revise the night before a tough exam. Nearpeer has now expanded its services beyond university courses and provides online tuitions for different exams such as the SAT and CSS, and now withholds a variety of highly qualified instructors for exam preparation, particularly the CA exams.
While in essence, Nearpeer seeks to make money out of its endeavors, it is still a highly useful platform because it creates accessibility, and for students, also because it can be a life-saver the night before an exam. It is also pertinent to note that Nearpeer serves the function of providing students with opportunities for part-time employment, a pressing need for students who aren’t as privileged as others. Given the variety of purposes it serves- from helping students who wish to accumulate teaching experience or some extra cash, to providing necessary assistance to college students, Nearpeer has established itself as a pioneer in creating startups that address pressing needs in society. While the idea and organization are still in their infancy, it seeks to address very essential requirements of society, undoubtedly creating a very positive outlook for its future.
While Careem and Uber seem to have saturated the market for ride hailing, Bykea has innovated to create an entirely new market of its own. Instead of using cars, the company uses motorbikes for ride-hailing, but more importantly, also provides a variety of different delivery options that makes life very easy for individuals across the board. It’s first advantage is in how cheap the service is- given that Bykea is only limited to motorbikes, ride charges are considerably lower than that of Careem or Uber. It’s second advantage is in the variety of delivery options that it provides.
With Bykea, users have the ability to call for a delivery of everything under Rs. 2000, or for picking something up from one place and dropping it to the other. Many have hailed the service to be a lifesaver when they realized they forgot their passport at home before a flight or some documents before an important meeting. Given how incredibly cheap and reliable it is, those who use the service are often hooked. Bykea is a tremendous example of a startup that works to create its own market, much like many of the other startups mentioned here. It remains to be seen whether the company is the impetus for greater innovation in the transport industry.
For a country in as crucial an economic and social juncture as Pakistan’s, entrepreneurship that seeks to address the needs of society in ways that transcend traditional boundaries and norms seems to be one of the few silver linings. There is still a long way to go for most startups in the country, but those mentioned here, and many other inspiring startups springing up across the country, remain a source of hope and motivation for a country that is truly and wholly struggling. Here’s to hoping you, the reader, feel inspired in some way or form after reading this, and then play your part in empowering Pakistani society.
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