Umair said is one of the most talented, experienced, and accomplish the IT personality of Pakistan. You cannot deny the fact that he is the pioneer of advanced ICT in Pakistan during his tenure as the Chairman of Punjab Information Technology Board.
The two most successful projects become possible with his help are Plan9 and ITU. These are the most amazing innovations in Pakistan developing startup ecosystems.
In his recent interview to a popular website, he mentioned some of the most common mistakes that are affecting the startups of Pakistan.
Wrong Investment Ideology
He said that Plan9 is some of the best successful startups in Pakistan. He further mentioned that there were some reasons on which Plan9 becomes successful was its policy of not taking up equity.
But the investor’s policy of spending $50,000 and demanding for a 51% share of a startup company really scared, and made him believe that this will kills the startups.
In the next rounds, the startups didn’t manage to raise money for their next phases. The main reason for them was the rights which they didn’t have properly.
Doing this cannot give you proper success in the future.
Inexperienced Incubators and VCs
He further mentioned that there are less to no experienced incubators and VCs roaming around Pakistan. Having lots of money in your pocket can not make you successful investors.
You have to adopt the culture of startups in order to attain some outstanding income.
He further said that there are different experience personalities available in Pakistan and we should urge people to seek their guidance.
The plan9 success reason back in the time was due to the actual help they are providing to the entrepreneurs.
He further said that all the mentors should visit the incubators and discuss their problems with them. The main reason for making Plan9 was to help in solving problems rather than keeping yourselves away.
Tons of new incubators are rising all around Pakistan but the approach they are using is not worthy. They are wasting their times and not helping properly startups in the proper way.
Lack of Billion Dollar Idea
The theme of Umar in the starting was if you don’t have a startup, you don’t have a billion dollar idea. He further mentioned that all the new entrepreneurs are not providing a solution that could help globally.
The ideas they are providing are the smallest solutions which cannot generate the billion dollar company. He also wanted all the new startups or entrepreneurs to work on the solutions that can be solved at the global level.