About US

MITEFP’s mission is to improve the economic well being of the people of Pakistan through development of an Entrepreneurship Promotion Program for Pakistan. This is in line with the MITEF global mission i.e. the promotion of formation and growth of innovative and technologically-oriented companies through specialized executive education programs. Through these programs, the Forum provides networking, leadership opportunities, and life-long connections to MIT while showcasing MIT’s role in entrepreneurship in communities around the world.
Entrepreneurship has been identified as one of the most important vehicle for improvement in the economic well being of individuals and communities. Countries and groups of countries are therefore trying to promote entrepreneurship in their respective regions. A quote from EU clearly shows this:
“The need for comprehensive action fostering entrepreneurship is increasingly being recognized by political and economic actors as one of the keys to unlocking greater employment, growth and competitiveness in Europe…”
EU Commission 1998.
Even though there are certain communities in Pakistan where entrepreneurship is quite ingrained in their culture; however, in general entrepreneurship mindset in Pakistan is not developed. Since, entrepreneurship flourishes in societies where there is a developed Entrepreneurial Ecosystem, therefore, there is need to develop an Entrepreneurial Ecosystem in Pakistan (EEP).
MITEFP in partnership with OPEN (Organization of Pakistani Entrepreneurs) and MIT Alumni of Pakistan and other Pakistani well wishers would work towards the development of an Entrepreneurial Ecosystem in Pakistan (EEP). Towards this end work would be undertaken in four directions namely: 1. Ensuring Availability of a Large Pool of Entrepreneurs. 2.  Ensuring Availability of a Large Pool of Investors in Individual capacity or Working in Groups and Organizations 3. Promotion of Exist Mechanisms and 4. Creation of an Enabling Environment for Entrepreneurship to Flourish.

This is detailed out below:

  • Ensuring Availability of Large Pool of Entrepreneurs
    • Developing Entrepreneurial Mindset
    • Assisting Entrepreneurs
    • Promoting Innovations.
  • Ensuring Availability of Large Pool of Investor Organizations and Individuals
    • Developing Angels, Angel Groups and VC Mindset
    • Assisting Angels, Angel Groups/Bands/Networks and VCs.
  • Ensuring Exit Mechanism
    • Finding ways to Promoting Merger and Acquisitions.
    • Finding Ways to promote Strategic buyouts
    • Finding ways to take Companies public (IPO- Initial Public Offering).
  • Providing an Entrepreneurial Enabling Environment
    • Identifying impediments to the development of the Entrepreneurial Ecosystem and finding solutions for the same, e.g. Ease of setting up and closing down an organization and Conducive taxes and tax incentives and other legislation and economic incentive programs that support and promote Entrepreneurship.
    • Advising the GOP (Government of Pakistan) for creating more Entrepreneurship Friendly Policies.
    • Promotion of Entrepreneurship related Associations.
    • Encouraging Industry associations to foster existing and new companies.
    • Promotion of non-profit organizations having a specific mission to support and foster the growth of entrepreneurial businesses, such as MITEFP and TIE.
    • Work towards making available the right HR, Infrastructure, etc.
    • Promoting Legal, Accounting, Marketing, Management, Financial and other service providers who understand early stage organizations.

The above can be achieved through exploring/undertaking some/all of the following:

  • Ensuring a Large Pool of Entrepreneurs
  • Developing entrepreneurial mindsets
    • Developing and starting Entrepreneurship and Innovation education programs (BBA/MBA and Engineering programs to have entrepreneurial and Innovation courses)
    • Promoting the setting-up of Entrepreneurship Centers and Incubation centers at various Universities and cities.
    • Organizing Workshops/Seminars on Entrepreneurship, Innovation and Investment Forums in various Universities and cities.
    • Organizing competitions (Business Plan, Growth Plan and Innovation)
    • Publicizing success stories
  • Assisting Entrepreneurs:
    • Mentoring/Coaching/Assistance for:
      • Basics of Entrepreneurship
      • Innovation
      • Funding Sources and How to get Angel, VC and other funding.
      • Business Plan Preparation and Presentation.
      • Company Formation/Establishment.
      • Govt. of Pakistan Incentives available.
      • Regulatory Requirements
      • Company Valuation.
      • Exist Strategies (Merger and Acquisition-M&A, Strategic Sale, IPO)
      • Operations, Finance, Sales, HR, etc.
      • Growth and competitiveness (taking companies to the next level)
      • Etc.
  • Promoting Innovation
    • Innovation Training Programs (e.g. TRIZ)
    • Innovation Competitions
  • Ensuring a Pool of Investor Organizations and Individuals
  • Developing Angels, Angel Groups and VC Mindset
    • Conducting Seminar/Workshops and Investment forums.
    • Publicizing Success stories
  • Assisting Angels, Angel Groups/Bands/Networks and VCs.
    • Mentoring/Coaching/Assistance for:
      • Basics of Angel, Angel Groups/Bands/Networks and VC
      • Promoting formation of Associations
      • Promoting linkages with other Angel Groups, VCs and Associations
  • Incentives for Setting up Angel Groups and VCs and Attracting Foreign VCs to setup Branches or Invest in Pakistani Companies.
  • Ensuring Exit Mechanism
  • Finding ways of Promoting Merger and Acquisitions. Strategic buyouts and IPO- Initial Public Offering
    • Workshops/Seminar & Investment Forums
    • Encouraging the Government for Offering Incentives