WB advocates stakeholders’ synergy for economic growth

Islamabad:World Bank country director for Pakistan Najy Benhassine on Tuesday said while there was potential for innovation and economic growth, it could only be fully unlocked by establishing strong connections among key stakeholders.

“Collaboration among stakeholders is essential to creating an ecosystem where ideas can develop into successful ventures. However, for progress to be meaningful, it must also be sustainable. True, long-term growth comes not just from existing industries but from the emergence of new companies that bring fresh ideas, solutions, and opportunities to the market,” Benhassine told the Investor Connect Event (ICE25), organised by the Higher Education Commission here.

The World Bank country director hoped that this event would support budding entrepreneurs, providing them with the resources, guidance, and investment needed to turn their visions into reality.

The ICE25 brought together a diverse array of investors, entrepreneurs, industry professionals, policymakers, and the promising startups, serving as a platform for fostering collaborations, exploring investment opportunities, and shaping the future of Pakistan’s startup ecosystem, according to organisers.

They said the daylong event reinforced Pakistan’s position as an emerging hub for innovation and investment, setting the stage for continued growth in the entrepreneurial ecosystem.

One of the event’s notable highlights was the Investor Pitches, where five high-potential startups showcased their ground-breaking ideas to the audience of seasoned investors. These pitches facilitated critical discussions on investment viability, innovation scalability, and market potential, creating tangible opportunities for early-stage startups. In total, 50+ potential startups were showcased before the industry professionals, and venture capitalists.

Academician, scholar and former HEC executive director Dr. Sohail Naqvi, who was the chief guest on the occasion, said that universities served as the core institutions for driving change and progress in society.

“Each university has to function as an engine of growth, embrace the transformative power of innovation-led technology and align it with the specific needs of their respective regions to drive meaningful progress and sustainable growth. Nevertheless innovation, by its very nature, requires individuals to challenge conventional norms and think beyond the ordinary.