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Entrepreneurship

Most economists agree that entrepreneurship drives innovation and significantly impacts economic development. It enables new ideas novel approaches, and innovative technologies to reach the marketplace; helps create more jobs; increases competition that forces established and other firms to improve their own products and services resulting in improvement in productivity; results in wealth creation and enormous financial gain for the entrepreneurs and investors, attracts FDI, provides high level of job satisfaction and flexibility for entrepreneurs, results in higher availability of goods and services, results in development of new markets, promotes use of modern technology, results in more research & development and reduces brain drain. In fact it results in higher GDP for the nation, overall improvement in the society and the improvement in the standard of living of individuals.

Situation in Pakistan, however, is not so good in terms of entrepreneurship. As per the, World Economic Forum, Competitiveness (an important factor for entrepreneurship to flourish) Index Report-2009-2010, Pakistan is ranked 101 out of a total of 133 countries.

i-Care Fund America (iCF) is working with reputable and well entrenched partners in the Entrepreneurship field to bring about a significant impact in this area. These organizations include: MIT Enterprise Forum of Pakistan, IBA Karachi, and Kashf Foundation.

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