As the world continues to witness the rapid growth of emerging markets, Pakistan's startup ecosystem has made significant strides in the past few years. A youthful population, increasing internet connectivity, and a wave of entrepreneurial spirit have contributed to a booming environment for startups in the country. Venture capital, once scarce, is now becoming more accessible, fueling the ambitions of young innovators eager to address local challenges with scalable solutions.
Reflecting on these transformative years, Mohammad Mustafa Hassan, a prominent figure in the Pakistani startup community, credits the National Incubation Center (NIC) in Islamabad for playing a crucial role in this growth. "The NIC was a game-changer for the startup ecosystem in Pakistan," he says. "When I joined in 2018, there was a strong desire among young entrepreneurs to create change, but the resources and support were limited. The NIC bridged that gap by providing a platform where startups could grow, learn, and connect with investors."
The first chapter of the NIC, a public-private partnership between Jazz, Pakistan’s leading telecommunications company, and the Ministry of Information Technology and Telecommunication, was established in 2017. Its mission was clear: to foster innovation and entrepreneurship by offering startups the tools, mentorship, and resources they needed to succeed. Since then, it has incubated over 200 startups, many of which have secured significant funding and scaled their operations.
"I was fortunate to be part of an organization that was at the forefront of nurturing innovation in Pakistan," Mohammad recalls. "The NIC’s comprehensive approach, from providing office space to offering mentorship and access to a network of investors, was instrumental in empowering the next generation of Pakistani entrepreneurs."
Mohammad Mustafa Hassan pictured at the NIC in Islamabad
Reflecting on Leadership and Intrapreneurship
During his time at the NIC, Mohammad quickly rose through the ranks, playing a key role in the organization’s success. "I joined the NIC as an intern while completing my business degree," he shares. "It was an incredible opportunity to learn and grow in an environment that was dedicated to fostering entrepreneurship. After graduating, I was offered a full-time position, and from there, my journey at the NIC really began."
As he advanced within the organization, Mohammad took on the role of managing Intrapreneurship and Corporate Partnerships. "Intrapreneurship was a concept that resonated deeply with me," he explains. "The idea was to foster innovation within the organization itself by encouraging employees to act like entrepreneurs. This approach, driven by our managing partner Teamup, led to the creation of several small businesses within the NIC, each contributing to the overall mission of the organization."
Mohammad Mustafa Hassan pictured speaking at the National Incubation Center in 2021
One of Mohammad’s most notable achievements during this time was the creation of Career Launchpad, a career accelerator designed to help young professionals develop the skills they needed to succeed in the evolving job market. "Career Launchpad was born out of a need to bridge the gap between education and employment," he says. "We partnered with top educational institutions like NUST and FAST to provide young professionals with the training, mentorship, and networking opportunities they needed to launch their careers."
The success of Career Launchpad was a testament to Mohammad's leadership and vision. "Seeing the impact it had on young professionals was incredibly rewarding," he reflects. "It wasn’t just about providing training; it was about empowering them to take control of their futures."
The Power of Corporate Partnerships
In addition to his work on intrapreneurship, Mohammad was instrumental in building and maintaining corporate partnerships at the NIC. "Corporate partnerships were essential to our success," he says. "By collaborating with industry leaders, we were able to provide startups with the resources, market access, and mentorship they needed to scale their operations."
One of the key partnerships that Mohammad helped to develop was with Coca-Cola Pakistan. "We worked with Coca-Cola to create Pakistan's first plastic road, a groundbreaking initiative aimed at addressing environmental issues while promoting sustainable infrastructure development," he explains. "It was a unique project that showcased how innovation and corporate responsibility could go hand in hand."
Another significant partnership was with Allied Bank, which led to the creation of Pakistan’s first Fintech-focused hackathon. "The hackathon was designed to uncover the next big fintech startup in Pakistan," Mohammad recalls. "We offered substantial cash prizes to attract top talent and innovative ideas. It was an exciting event that highlighted the potential of fintech in Pakistan and helped position the country as a player in the global fintech landscape."
The Birth of RemotePLUS
While managing his responsibilities at the NIC, Mohammad was also laying the groundwork for his own startup, RemotePLUS. "The idea for RemotePLUS came from my observation of the immense talent among Pakistani engineers and developers," he says. "They were some of the best in the world, but they weren’t being compensated fairly. I saw an opportunity to connect them with remote roles in the US and Europe, where their skills would be better valued."
RemotePLUS was designed to be more than just a job placement platform. "We wanted to create a comprehensive solution that would not only match engineers and developers with remote roles but also provide them with the tools and support they needed to succeed," Mohammad explains. "One of the biggest challenges we faced was managing payroll across different countries, especially with multiple currencies and banking systems. That’s where Bitcoin came in."
Using Bitcoin to manage payments was a revolutionary idea. "It was unheard of at the time," he recalls. "But it made perfect sense. Bitcoin allowed us to simplify the payroll process and ensure that our team members were paid fairly and on time, regardless of where they were in the world."
A New Chapter: Valt and Silicon Valley
Since his time at the NIC, Mohammad Mustafa Hassan’s entrepreneurial journey has taken him to new heights. In Fall 2023, he received a full scholarship to attend the Draper University Hero Training program, a prestigious accelerator for aspiring entrepreneurs in Silicon Valley. "The Hero Training program was a life-changing experience," Mohammad says. "Being surrounded by some of the brightest minds in the world and learning from industry leaders was incredibly inspiring."
During his time at Draper University, Mohammad was recognized as one of the top founders in the program, a testament to his vision and determination. "It was an honor to be acknowledged among such a talented group of individuals," he reflects. "The program helped me refine my ideas and gave me the confidence to pursue my next venture."
Mohammad Mustafa Hassan (middle) pictured with Tim Draper (right) and Roc Ryder (left)
Today, Mohammad is focused on his new startup, Valt, a fintech company based in Silicon Valley. "Valt is about democratizing crypto investing and facilitating mass adoption," he explains. "We’re building a platform that makes it easy for people to invest in cryptocurrencies and take control of their financial futures."
Reflecting on his journey from the NIC to Silicon Valley, Mohammad is optimistic about the future. "My time at the NIC was foundational," he says. "It gave me the skills, experience, and network I needed to succeed. Now, as I work on Valt, I’m excited to see how far we can go and how we can continue to innovate and make an impact on a global scale."
As Pakistan's startup ecosystem continues to grow, Mohammad Mustafa Hassan’s story is a reminder of the power of entrepreneurship and the importance of nurturing young talent. From his early days at the National Incubation Center to his current work in Silicon Valley, Mohammad’s journey is a testament to the impact that dedicated individuals can have on their communities and the world.