New business startups and business innovation promote employment, productivity and trade New business startups and entrepreneurship promote employment, productivity and trade. The US Agency for International Development (USAID) is building the future of business development in Pakistan by providing a $ 200,000 challenge fund grant to enthusiastic businessmen and innovators.
In this regard, a ceremony was held today in Islamabad, in which US and Pakistani officials celebrated the success of five Pakistanis receiving Challenge Fund grants from across Pakistan or who shared information technology, hospitality, textile, Create amazing new business ideas in the fields of small-scale engineering and agribusiness.
Business Innovations promoted by the Challenge Fund are increasing the competitiveness of small and medium enterprises in Pakistan, employment opportunities, sales, exports, access to markets and the use of new technology. Addressing the ceremony, Senior Joint Secretary of the Ministry of Industry and Production Qazi Zaheer Ahmad lauded the entrepreneurs' innovative business ideas and their efforts to boost Pakistan's economy.
He also thanked the United States for its support for the development of Pakistan's business sector. Julie Quinn, mission director of USAID Pakistan, is pleased to announce that in less than a year the seeds of the seeds she sowed through the program have emerged as a profitable and innovation-driven successful business. Have come.
He expressed confidence that in the next few years, he would see more new businesses receiving funds from USAID's Challenge Fund. USAID is running two grant programs (Innovation Grants and SME Growth Grants), which are legally enrolled local and non-profit organizations, new business startups and organizations in Pakistan. Can submit applications. Under this program there are grants ranging from $ 20,000 to $ 50,000, and successful individuals and organizations receiving grants can apply for a $ 200,000 challenge challenge grant.
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