Mentorship, not lone geniuses, fuels entrepreneurial success, say experts

LAHORE: Entrepreneurship flourishes not in isolation but within tightly knit networks, where successful founders support aspiring risk-takers with capital, mentorship and honest feedback, say experts.

While individual successes are often celebrated as strokes of genius, economists increasingly agree that entrepreneurship is seldom a solo endeavour. The romanticised image of the lone maverick entrepreneur, they argue, is largely a myth.

“Entrepreneurship drives innovation, economic growth and job creation,” says Syed Nabeel Hashmi, a pioneer in Pakistan’s auto sector. “But it cannot be nurtured through government schemes alone. Real momentum comes from peer-driven guidance -- when established entrepreneurs actively mentor and sponsor newcomers.”

Hashmi highlights that governments across the globe have struggled to replicate Silicon Valley, despite significant investment. “Malaysia spent $150 million trying to build a BioValley, but only a handful of biotech firms emerged. Moscow invested $2 billion in IT incubators with little to show for it. In Pakistan, we are investing peanuts in incubators in Lahore and Karachi -- unsurprisingly, we have not seen any breakthrough startups,” he notes.

He laments that few successful Pakistani startups give back. “There’s no real ecosystem here. Graduated startups rarely mentor the next generation. We need an organisation to connect emerging entrepreneurs with mentors and investors. The journey to success is riddled with pitfalls -- experienced founders can help others avoid them.”

Textile entrepreneur MI Khurram emphasises that entrepreneurial networks do not begin with infrastructure or government incentives, nor do they emerge spontaneously. “A few pioneering founders must be supported in their early stages. Then, they must actively spread the entrepreneurial spirit by mentoring, inspiring, and investing in others.”

Khurram adds that while mentorship is crucial, long-term success hinges on competence and innovation. “When successful entrepreneurs collaborate across companies and industries, it benefits the ecosystem. Global research confirms that just a few high-impact entrepreneurs can spark a multiplier effect.” He notes that successful founders bring together three essential forms of capital -- financial, human and social -- which can then be reinvested in new entrepreneurs. “That’s how entrepreneurial culture is sustained: each generation inspires the next.”

Mohsid Syed, an aviation entrepreneur, concurs that entrepreneurship does not spread by chance; it must be actively cultivated. “Even the best ideas fail without proper guidance. Seasoned entrepreneurs help new entrants identify weaknesses in their strategies, business models, team structures and marketing plans.”

Syed warns that early success is only the beginning. “Scaling up is the most treacherous phase. Young founders need mentorship to navigate that journey. Research shows that in thriving ecosystems, successful entrepreneurs don’t vanish after an IPO or exit. They stay involved and help guide the next wave.” He adds that in cultures where mentorship is embedded, young entrepreneurs see it as their duty to offer support. “Sadly, that culture of collaboration is lacking in Pakistan -- which is why we’ve produced so few true entrepreneurs.”

Drawing a contrast with India, he says: “The first Pakistani tech firm to list on Nasdaq left no legacy. Meanwhile, India’s Infosys not only made waves in Silicon Valley but also inspired an entire generation of tech entrepreneurs back home.”