ISLAMABAD: Federal Minister for Information Technology and Telecommunication Shaza Fatima Khawaja on Monday formally inaugurated \u2018The Innovation Hive\u2019, established by the United States Educational Foundation in Pakistan (USEFP), by cutting the ribbon at a ceremony held here.<\/p>\n
The ceremony was attended by US Embassy Charg\u00e9 d\u2019Affaires Natalie Baker, Chief Executive Officer (CEO), STEPI Pakistan, Dr. Mazhar H. Qureshi, Director, Alumni Affairs, USEFP Mazhar Awan, and other prominent personalities.<\/p>\n
Addressing the ceremony, Shaza Fatima Khawaja thanked the US Embassy and USEFP, saying that \u2018The Innovation Hive\u2019 is not merely a building or an office, but a strong bridge that will provide Pakistani entrepreneurs with direct access to the US market and investors without having to leave the country, while also creating broader opportunities for young people to advance.<\/p>\n
Highlighting the historical ties and economic cooperation between the two countries, the Federal Minister said that the United States is Pakistan\u2019s largest export market, accounting for around 20 percent of Pakistan\u2019s total exports during fiscal year 2025-26.<\/p>\n
She said that bilateral trade exceeded US$8 billion in 2025, while under the Pakistan-US trade agreement reached in July 2025, US import duties on IT services, textiles and other sectors were reduced.<\/p>\n
She added that Pakistan had, as a goodwill gesture, abolished the five percent Digital Services Tax.<\/p>\n
The Federal Minister said that the combined enterprise value of Pakistan\u2019s VC-funded startups has exceeded US$4 billion.<\/p>\n
She said startups raised US$74.2 million in funding in 2025, while funding for startups founded or co-founded by women increased from US$5.5 million in 2024 to US$10.1 million in 2025.<\/p>\n
\u2018The Innovation Hive\u2019 will serve as a permanent platform connecting Pakistani talent directly with the US market, mentorship opportunities and the alumni network.<\/p>\n
Referring to key institutions and initiatives of the Ministry of IT and Telecommunication, the Federal Minister said that through nine National Incubation Centers, Ignite has supported more than 2,350 startups and created over 185,000 employment opportunities.<\/p>\n
She said the Pakistan Startup Fund (PSF) restores the confidence of US investors by providing funding of up to 30 percent without taking any government equity.<\/p>\n
The Special Technology Zones Authority (STZA) provides technology and AI companies with 10-year tax and customs incentives.<\/p>\n
Concluding her address, the Federal Minister told entrepreneurs: \u201cThe US market you want to reach is no longer across the ocean; its address is now in Islamabad. This bridge reflects the shared commitment of both countries.\u201d<\/p>\n
At the conclusion of the ceremony, the Federal Minister also visited various sections of the United States Educational Foundation in Pakistan (USEFP), where she was briefed on the organisation and its activities.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD: Federal Minister for Information Technology and Telecommunication Shaza Fatima Khawaja on Monday formally inaugurated \u2018The Innovation Hive\u2019, established by the United States Educational Foundation in Pakistan (USEFP), by cutting the ribbon at a ceremony held here. The ceremony was attended by US Embassy Charg\u00e9 […]<\/p>\n
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