Promoting entrepreneurship in Pakistan

In early April, the Aga Khan Foundation and the Institute of Cost and Management Accountants of Pakistan (ICMAP) signed an MoU to collaborate on the promotion of entrepreneurship across Pakistan.

In providing services such as pre-financing technical assistance, co-working spaces, incubation programmes and patient financing, this agreement enables the exploration of joint opportunities for strategic impact – both for the two entities and the aspiring entrepreneurs and small-scale businesses they serve.

The partnership will enhance Accelerate Prosperity (AP) – an Aga Khan Development Network business incubation initiative – by allowing AP and the entrepreneurs it supports to utilise ICMAP’s co-working spaces for selected events, and information and networking sessions for wider outreach and exposure across Pakistan.

ICMAP, through their extensive network of 8,000 members and 12,000 students across 12 campuses nationwide and five overseas branches, will also provide a platform for AP to promote businesses in the country.

“On behalf of the Aga Khan Development Network (AKDN), we thank ICMAP for the collaboration with Accelerate Prosperity.” said Amin Feerasta, Chairman of the National Committee at AKF, Pakistan, at the signing ceremony.

“Accelerate Prosperity is a global initiative of AKDN through which it offers creative financial solutions, as well as pre- and post-investment technical assistance to help grow early-stage businesses, start-ups, small and growing businesses and innovative ideas. In Pakistan, AP has been providing services nationally with a special focus on Gilgit-Baltistan, Khyber Pakhtunkhwa, Islamabad, Rawalpindi, Lahore, Karachi, Hyderabad and recently Gwadar. The collaboration with ICMAP aligns with AP’s commitment to promote entrepreneurship across the country.”

Also speaking at the signing ceremony, Shehzad Ahmed Malik, President of ICMAP, noted: “The incubation centre is the flagship project of ICMAP, and we are glad to have AKF on board. As we know, the youth of Pakistan with its immense talent is contributing as 4th largest freelancing workforce globally. In this prevalent landscape, ICMAP Incubation Centre aims to serve as catalyst for economic growth by cultivating a fertile environment for aspiring entrepreneurs. We are keenly looking forward to great times ahead on this new venture with AKF and provide a platform to entrepreneurs to develop their ideas into successful businesses through mentorship, networking, and access to essential resources.”

In his concluding remarks, Akhtar Iqbal, CEO of AKF, Pakistan, thanked ICMAP and shared, “This partnership will open significant opportunities for AKP/AP and ICMA to collaborate in various programmes especially in sharing co-working spaces and accessing expertise in financial analysis and management. The Virtual Accelerate initiative of AP will provide a good virtual platform for ICMAP for offering entrepreneurship courses to all its students. Both entities will be benefitting while contributing to promoting small businesses across the country.”

Media Contacts:

Laila Naz Taj

Director of Communications, Aga Khan Development Network, Pakistan

Email: laila.taj@akdn.org

Muntaha Talat

Officer Job Placements and Industrial Linkages, ICMAP

Email: muntaha.talat@icmap.com.pk