Monday, 11 June 2012

Re: [pakgrid] My article for Washington Post on tech startups

 

A very interesting and well accentuated point of view on the need of innovative ideas coming out of the developing world instead of simply emulating successful business models from elsewhere. While I feel it is essential to encourage innovation that transcends existing businesses and to translate our constraints into opportunities for innovation, I also feel it is important to grab market share out of existing business models in technology industry by competing effectively through product differentiation and / or cost advantage.
 
VCs in Pakistan should be able to help companies capitalize on ideas in both these categories. 

Just to elaborate with the help of an example, electronics had been the world's fastest growing industry standing at $1659 Bn (in 2008) and had been looking at low cost destinations around the globe. Countries like Malaysia, Taiwan, Philippines and China had been able to capitalize on this huge potential and paid special attention to developing and encouraging entrepreneurship in this area which is now helping their economies tremendously. So much so Malaysia's electronics constitutes a bulk of their exports (i.e. 55.5%) standing at $ 87.8 Bn (in 2009) which is equivalent to approximately 23% of their nominal GDP for the same year. India, according to a recent move is going around in the world attracting investment to the tune of $10 Bn for semi-conductor manufacturing (S1). Pakistan on the other hand has not been able to realize the potential it has in high value industry while also has lost huge foreign exchange in imports. According to an estimate Pakistan has spent close to $2.5 Bn and $4.3 Bn in the last seven years on mobile handsets and telecom equipment imports respectively which could have been realized by the local industry had we developed it in time. 

I am currently exploring opportunities of collaboration with VCs in the developed world and Pakistan to raise funds for business ideas in both  categories highlighted above with focus on energy sector technologies including hardware and software development. My other areas of focus include cloud services, mobile financial services and other innovative mobile services. I would welcome any suggestions, feedback or opportunities of collaboration in this respect.

 Best regards,

Adnan Z Khawaja
Cell: 03242424861

On Sat, Jun 9, 2012 at 12:19 PM, Umar Saif <umar@lums.edu.pk> wrote:
 

Dear all -

My recent article for Washington Post on why we don't see any product startups in the developing world. This may strike a chord with several of you:

http://www.washingtonpost.com/national/on-innovations/a-tale-of-two-tech-startup-cities/2012/06/05/gJQAz6w6FV_story.html

Regards,
--
Umar Saif | http://people.csail.mit.edu/umar



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