Amid an economic crisis marked by volatile currency rates, soaring inflation, and arduous external debt, Pakistan's start-up ecosystem is in dire need of support. With two-thirds of Pakistan's 240 million people under 30, the country boasts one of the largest youth populations in the world. According to a 2019 UNDP report, 23% of young Pakistanis want to start their own businesses, a number which has probably risen in the past five years.
Pakistan's startups have been rapidly extending across diverse sectors, including e-commerce, fintech, health tech, agritech, and edtech. Despite this growth, unprecedented challenges restrict Pakistani start-ups to flourish. Limited venture capital funding, high employee costs, reticence from international investors, and lowered consumer spending have made it difficult for start-ups to get the required resources. Moreover, the oligopolistic market structure worsens these challenges, creating a tough environment for new businesses.
Amidst this backdrop, Grenlit Studios has acquired the rights to the famous reality TV franchise, Shark Tank. Pakistan's first Shark Tank series will go on-air in September 2024 on Green Entertainment. This series is anticipated to be a game-changer for the start-up ecosystem of Pakistan. Usman Malik, Rizwan Siddiqui, and Tariq Qazi are the founders of Shark Tank Pakistan .
Grenlit Studios aims to recount this success in Pakistan. The show is tipped to improve Pakistan's start-up scene by showcasing local entrepreneurial talent and restoring the Pakistab's content landscape. Malik, a content licensing specialist, underscored the rarity of a standalone content company acquiring a global franchise license. He stated:
Shark Tank Pakistan will feature a panel of six investors, including two female sharks, to ensure diverse representation and perspectives. Notable sharks include Rabeel Warraich, founder of Sarmayacar; Aleena Nadeem of Ventura Capital; Junaid Iqbal, CEO of Salt Ventures; Karim Teli, a successful business leader; Faisal Aftab, an IT venture investor; Romana Dada, a Forbes-featured entrepreneur; and Usman Bashir, a veteran of retail and gas stations.
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