Asamad Jamal: ePlanet Ventures founder, a company of advertising, media, communications, wireless, software, consumer internet and other market places. Pakistan
It was an independent nation on August 14, 1947, when British India gained independence from British rule. 2 new nations came, India and Pakistan. Pakistan has spent its time under military rules, dictators, and corrupt civilian regimes have stopped the economic growth. In 1999, the country was pretty close of the bankruptcy. By 2007, the president Musarraf has restored some level of authority. Between 2000 and 2007, the GNI per capita grew from $480 to $800 (near to India $820) and GDP 4.9 to 6.9. Pakistan large an evolving market.
The population had the basic needs as access to the Satellite TV and internet. US venture capital community thought that many technologies that were successful in the west could be replicated in Pakistan as well as ePlanet saw the same potential. The considerations for the logical business were: a large market, cost base and talent, in additions to cultural and family connections. The economy and regulatory reform
A country on the verge of bankruptcy, after 09/11, the fortunes in Pakistan had experienced a turnaround. According with the World’s Bank, Doing Business 2008 report, Pakistan is ranked #1 in South Asia for its ease of doing business and #76 globally. The introduction of the private equity and venture Capital funds act of 2007 providing a safer environment for outside capitals with funds protection and full tax exception until 2014. The fear of being first
Even when Pakistan were stable since 2000 under dictatorship, it was not forever. The question in the mind of Asad was: The gains in the last 8 years were permanents and whether enough had been done to make Pakistan’s economy sustainable and able to weather any upheaval. Scaling for sustainable growth
The main concern in the mind of all the entrepreneurs was if Pakistan was ready to...