PSEB Venture Capital to strengthen Equity & HR base of IT

03 Dec '07

3 min read

Pakistan Software Export Board (PSEB) is launching various initiatives to facilitate access to Venture Capital, strengthen the equity base of IT companies and promote world class entrepreneurial culture in the IT industry. The projects are aimed at raising the fast track development and robust growth of the Pakistan's IT industry.

One such Program, the PSEB's Entrepreneurship Project has been initiated to provide consultancy, on due diligence, to selected IT companies with the objective of qualifying them for Initial Public Offering (IPO).

Currently, out of over 1082 IT companies in Pakistan, only two companies are listed on the Karachi Stock Exchange. 'To get more companies listed, as envisioned under the project, PSEB would subsidize the consultancy cost by 75% while the selected companies would bear the remaining 25% of the consultancy fee', a spokesman of PSEB said in a statement.

In order to facilitate access to Venture Capital, PSEB would facilitate entrepreneurs in getting Venture Capital funding through vetting business plans and establishing linkages with Angel, VC, Private Equity, Public and Multilateral funding organizations.

PSEB has also launched an Apprenticeship Program for creating a pool of skilled resources in the Pakistan IT industry matching the advanced and specialized international technological requirements.

Under this initiative, IT companies would recruit IT graduates on apprenticeships and later hire them for a period of at least one year.