MITCEF objective is to improve the economic well being of the people of Pakistan through development of an Entrepreneurship Promotion Program for Pakistan

Entrepreneurship has been identified as one of the most important vehicle for improvement in the economic well being of individuals and communities. Countries and groups of countries are therefore trying to promote entrepreneurship in their respective regions. A quote from EU clearly shows this:

“The need for comprehensive action fostering entrepreneurship is increasingly being recognised by political and economic actors as one of the keys to unlocking greater employment, growth and competitiveness in Europe..”
EU Commission 1998.

Even though there are certain communities in Pakistan where entrepreneurship is quite ingrained in their culture; however, in general entrepreneurship mindset in Pakistan is not developed. Since, entrepreneurship flourishes in societies where there is a developed Entrepreneurial Ecosystem, therefore, there is need to develop an Entrepreneurial Ecosystem in Pakistan (EEP).

MITCEF, OPEN (Organization of Pakistani Entrepreneurs) and MIT Alumni of Pakistan and other Pakistani well wishers have joined together to help in development of an Entrepreneurial Ecosystem in Pakistan (EEP). Towards this end some/all of following initiatives will be explored/undertaken:

• Developing Entrepreneurial Mindsets
• Assisting Entrepreneurs
• Promotions for the establishment of Venture Capital Funding organizations.
• Identifying impediments to the development of the EEP and finding solutions for the same.
• Advising the GOP (Government of Pakistan) for creating more Entrepreneurship Friendly Policies.

The above can be achieved through exploring/undertaking some/all of the following:

• Developing entrepreneurial mindsets
  • Developing and starting courses (Entrepreneurship and Innovation) in various universities/institutes of Pakistan.
  • Organizing Workshops/Seminars on Entrepreneurship and Innovation in various cities
  • Organizing competitions (Business Plan, Growth Plan and Innovation)
  • Publicizing success stories
• Assisting Entrepreneurs:
  • Assist in the establishment of Entrepreneurship/Incubation Centres.
  • Establishing a Consultancy firm that can assist Entrepreneurs in the following:
    • Innovation
    • Starting
    • Survival
    • Handle risk
    • Growth and competitiveness (taking companies to the next level)
    • Arranging Funds
    • Management
  • Establishing a firm similar to “Fundacion Chile” (Promoting Innovation in Developing Countries: A Conceptual Framework, Jean-Eric Aubert, World Bank Institute, July 2004, Refer to Annexure A) to start and take companies to a viable stage.
  • Establishing Special Economic Zones.
• Promotions for the establishment of Venture Capital Funding organizations.
• Conducting Research to identify impediments to EEP and coming up with ways to overcome these impediments.
• Based on the above research advising the GOP (Government of Pakistan) as to how the impediments could be removed and for creating more Entrepreneur Friendly policies, regulatory and administrative framework.