{"id":5947,"date":"2022-11-01T09:10:35","date_gmt":"2022-11-01T09:10:35","guid":{"rendered":"https:\/\/www.js.com\/ur\/500global-jsgroup-support-startups-pakistan\/"},"modified":"2022-11-01T13:25:20","modified_gmt":"2022-11-01T13:25:20","slug":"500global-jsgroup-support-startups-pakistan","status":"publish","type":"post","link":"https:\/\/www.js.com\/ur\/500global-jsgroup-support-startups-pakistan\/","title":{"rendered":"500 Global and JS Group Partner to Support Startups in Pakistan"},"content":{"rendered":"
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\"500Global\"<\/p>\n

500 Global plans to bring its world-class programs and continue to invest in Pakistan, as the country\u2019s startup ecosystem gathers momentum, with JS Group as a strategic local partner.<\/i><\/p>\n<\/div>\n

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KARACHI, PAKISTAN \u2013 November 1, 2022<\/strong>\u00a0\u2013 500 Global, one of the most active venture capital firms in the world, has partnered with JS Group, one of Pakistan\u2019s leading financial services conglomerates, to support startups in Pakistan.<\/p>\n

With this collaboration, 500 Global aims to bring its range of startup and investor education programs to Pakistan. It will also continue to scout for top founders and high-potential technology startups to invest in.<\/p>\n

As the world\u2019s fifth most populous market with a young population that is rapidly digitizing, Pakistan aims to become a regional technology hub. The number of venture-backed deals nearly quadrupled between 2018 and 2021 to 86, with funding rising more than 20-fold during the same period to $332 million. Pakistan is at a tipping point for global venture-backed deals, attracting $304 million in funding in the first nine months of 2022, 92% of total 2021 funding, according to data firm MAGNiTT.<\/p>\n

The partnership underscores 500 Global\u2019s mission of uplifting people and economies around the world through entrepreneurship. With $2.7 billion under management, the Silicon Valley-based firm has invested in more than 2,700 companies in 81 countries and counts 49 unicorns in its portfolio (companies valued in excess of $1 billion). In addition to its investments, 500 Global has run more than 80 accelerator programs worldwide, providing startups with the tools they need to set them up for success.<\/p>\n

JS Group will continue to build on its vision to support the Pakistani startup ecosystem, creating category-defining technology businesses, employment opportunities, and a new generation of entrepreneurs. JS Group and its subsidiaries have already built a track record of investing in and backing some of the country\u2019s leading SMEs and start-ups \u2014 taking them from seed to IPO.<\/p>\n

\u201cWe\u2019ve been watching Pakistan\u2019s startup ecosystem evolve and I\u2019ve also had the opportunity to meet a driven and thriving community of talented founders and their supporters, both in Pakistan and abroad. With JS Group\u2019s experience and offerings as a leading financial institution in Pakistan and with our experience investing globally in early-stage technology and delivering programs, we\u2019ll each be well placed to help the next generation of founders in Pakistan to build and scale their companies with strong infrastructure and know-how,\u201d said Courtney Powell, Chief Operating Officer and Managing Partner of 500 Global<\/strong>.<\/p>\n

500 Global made its first investment in Pakistan six years ago and by teaming up with JS Group, the firm intends to deepen its commitment to building a thriving and sustainable startup ecosystem. Despite macroeconomic pressures, both organizations recognize that the country\u2019s most innovative entrepreneurs will successfully navigate current economic challenges to create businesses that can scale growth in Pakistan and beyond.<\/p>\n

\u201cWith close to a billion dollars in venture financing since 2018, the growth of Pakistan\u2019s young, connected middle class is underpinned by policies and infrastructure designed to advance the technology and venture capital sectors. JS Group has been at the forefront of Pakistan\u2019s financial sector and today is pioneering the provision of growth capital for the country\u2019s pathbreaking entrepreneurs. Together with 500 Global, we aim to enable access for homegrown startups to early-stage financing and nurture innovative talent through a global network of experts,\u201d said Salaal Hasan, Director \u2013 Venture Capital of JS Group<\/strong>.<\/p>\n

\u2014End\u2014<\/p>\n

THIS PRESS RELEASE IS INTENDED SOLELY FOR GENERAL INFORMATIONAL OR EDUCATIONAL PURPOSES ONLY. 500 GLOBAL AND JS GROUP ARE INDEPENDENT THIRD PARTIES.<\/p>\n

500 GLOBAL AND JS GROUP MAKE NO REPRESENTATIONS AS TO THE ACCURACY OR COMPLETENESS<\/p>\n

OF INFORMATION CONTAINED IN THIS PRESS RELEASE. WHILE THE PARTIES HAVE TAKEN REASONABLE STEPS TO ENSURE THAT THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS ACCURATE AND UP-TO-DATE, THEY CANNOT BE HELD RESPONSIBLE OR LIABLE FOR ANY ERROR OR OMISSIONS, OR FOR SPECIFIC OUTCOMES OR RESULTS FROM RELYING ON THE CONTENTS OF THIS PRESS RELEASE OR ANY THIRD PARTY LINKS HEREIN. INTERNAL 500 GLOBAL FIGURES ARE APPROXIMATED BASED ON INTERNAL ESTIMATES AS OF JUNE 30, 2022 AND HAVE NOT BEEN INDEPENDENTLY VERIFIED.<\/p>\n

UNDER NO CIRCUMSTANCES SHOULD ANY CONTENT IN THIS PRESS RELEASE BE CONSTRUED AS INVESTMENT RECOMMENDATION OR ADVICE. NO CONTENT OR INFORMATION IN THIS PRESS RELEASE SHOULD BE CONSTRUED AS AN OFFER FOR SALE OR SOLICITATION OF INTEREST TO PURCHASE ANY SECURITIES OF OR ADVISED BY ANY PARTIES HEREIN. ALL VIEWS AND OPINIONS PRESENTED ARE THE RELEVANT PERSONS’ OWN.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

500 Global plans to bring its world-class programs and continue to invest in Pakistan, as the country\u2019s startup ecosystem gathers momentum, with JS Group as a strategic local partner. KARACHI, PAKISTAN \u2013 November 1, 2022\u00a0\u2013 500 Global, one of the … <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[56,37],"tags":[60,61,62],"class_list":["post-5947","post","type-post","status-publish","format-standard","hentry","category-news-urdu","category-uncategorized-ur","tag-500-global-ur","tag-pakistan-startups-ur","tag-startup-ur"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.js.com\/ur\/wp-json\/wp\/v2\/posts\/5947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.js.com\/ur\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.js.com\/ur\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.js.com\/ur\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.js.com\/ur\/wp-json\/wp\/v2\/comments?post=5947"}],"version-history":[{"count":5,"href":"https:\/\/www.js.com\/ur\/wp-json\/wp\/v2\/posts\/5947\/revisions"}],"predecessor-version":[{"id":5963,"href":"https:\/\/www.js.com\/ur\/wp-json\/wp\/v2\/posts\/5947\/revisions\/5963"}],"wp:attachment":[{"href":"https:\/\/www.js.com\/ur\/wp-json\/wp\/v2\/media?parent=5947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.js.com\/ur\/wp-json\/wp\/v2\/categories?post=5947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.js.com\/ur\/wp-json\/wp\/v2\/tags?post=5947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}