LAHORE - Pakistan has underwent a huge transformation in terms of entrepreneurship since the establishment of Plan9, a project of PITB, Dr Saif said during a seven-day annual conference held under the auspices of South by Southwest at Austin, Texas, on Sunday.

“The start-up culture has really accelerated and many private and public incubators came into existence in the past four years, which were not only contributing to the national economy but also generating job opportunities, empowerment of youth and expansion in market activity through innovative use of technology in various sectors,” the chairman of Punjab Information Technology Board (PITB) said in his address on “Next innovation nation: Pakistan Startup Scene” at the start-up village in Austin.

Many prominent individuals like Barack Obama, Mark Cuban, Sean Read, Kesha etc participated in this event.

“China’s huge investment of US $ 45 billion under China Pakistan Economic Corridor (CPEC), beneficial for South Asian countries, Central Asian states, Europe and other parts of the world confirmed Pakistan’s growing economy potential, which was being acknowledged by all global economic indicators,” Dr Umar added.

“Pakistan being the world’s sixth country with largest population, world’s third English speaking nation with 60 % young population below the age of 35 years and world’s 9th largest mobile market where youth knew the use of technology, has vast potential to join the developed countries,” the PITB chairman said while highlighting number of start-ups which have gone through the incubation process, the jobs they have created and their current valuation.

The session was concluded by interactive session with audience.

The SXSW conference has dedicated segments for music, film, start-ups and interactive industry and various sessions in the week long moot.