KARACHI: Pakistan has been ranked among the world’s most promising ‘new frontier’ technology ecosystems, according to a joint report released by global mobility platform inDrive and startup intelligence firm Dealroom.
The study, ‘The Rapid Rise of Pakistan Tech’, finds that the country’s startup enterprise value has grown more than 3.6 times since 2020, outperforming several established markets including India, New York and London, and trailing only Silicon Valley’s Bay Area.
Researchers identified capital scarcity as the primary constraint facing frontier markets, noting that operators with strong local presence and infrastructure can play a key role in supporting startups where traditional venture capital remains limited.
inDrive, which operates in 48 countries and is Pakistan’s leading ride-hailing platform, said it is expanding its role from service provider to ecosystem investor. Through its evolving SuperApp model, the company offers startups access to a large user base, distribution channels, operational systems and AI-driven tools aimed at reducing execution risks. Its venture arm has already invested in local companies, including grocery delivery platform Krave Mart.
Pakistan was chosen as the inaugural market for the research due to its favourable demographics and rising digital adoption. The country has a young working-age population, around 190 million active SIM connections recorded in early 2025 and internet penetration still below 46 per cent, suggesting significant room for expansion.
The report estimates that Pakistan now hosts more than 170 venture capital-backed startups with a combined enterprise value exceeding $4 billion. Startups founded after 2015 have grown particularly rapidly, expanding 11.3 times since 2020, faster than counterparts in major global tech hubs. The ecosystem includes 13 mid-sized firms generating between $25 million and $100 million in annual revenue, with fintech, transport, marketing and food services among the leading sectors.
The study places Pakistan within a group of fast-growing, high-potential markets collectively attracting about 11 per cent of global venture capital flows, signalling increasing international interest despite the country’s still modest share of global enterprise value.
