TechLahore

Here’s a worthwhile goal! The PSEB has announced its intention to work with companies to bring in $200M in venture capital, by the year 2011. This was disclosed in a story published by The News. To put things in context, $200M would probably be able to drive the same value creation in terms of new product companies that would require $1BN in a mid-tier US city. So the number is even more weighty than it would otherwise appear to be.

We’ve often talked about the praiseworthy efforts of the PSEB in furthering the cause of software and IT enterprises in the country, and this certainly will get added to the list. There isn’t much mention of where the funds will be raised from, how the PSEB will help, or whether there are any plans for the government to promote local Venture Funds in Pakistan. Until we hear more details on this, we’ll keep our fingers crossed. If any of our readers know more, please share with the rest of us in the interaction space below. Read on to see an extract from the story.

PSEB aims for $200m venture capital funds

2/8/2008
KARACHI: The Pakistan Software Export Board (PSEB) is targeting venture capital funds of around US$200 million by 2011 and intends to launch an entrepreneurship development programme which will assist IT companies in assessing overseas venture capitalists, building boards of advisers and directors and undertaking initial public offering, a PSEB spokesman said in a statement.

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