The Islamabad Chamber of Commerce & Industry (ICCI) and the Entrepreneurs Organization Islamabad (EOI) have signed a Memorandum of Understanding to forge a partnership for promoting SMEs and Start-Ups with joint efforts. Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry, and Taimur Adil, President, Entrepreneurs Organization Islamabad signed the MoU during a ceremony held at ICCI. Faad Waheed Senior Vice President, Engr. Azhar ul Islam Zafar Vice President ICCI, Ahmed Jalal Global Student Entrepreneurs Awards Chair at EO Islamabad Chapter, and others were present on the occasion.

By signing the MoU, both organizations pledged to work together to promote the growth of SMEs and start-ups by helping them scale their businesses. Speaking on the occasion, Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce & Industry said that access to finance is a major hurdle for the growth of SMEs and start-ups in Pakistan, therefore, ICCI and EOI would work together with the government authorities to ensure that SMEs and start-ups are ensured easy access to credit so that these businesses could flourish in the country and play an active role in the economic development of the country. He said that both sides would also work together to provide business development support to startups and SMEs including training, mentoring, and coaching on topics such as business planning, marketing, and financial management. It would help startups and SMEs to improve their operations and increase their chances of success.

Taimur Adil, President, Entrepreneurs Organization Islamabad said that in the competitive global business environment, networking is key for SMEs and startups to achieve better growth. He said that EOI in collaboration with ICCI would provide networking opportunities to startups and SMEs to meet and connect with other entrepreneurs, investors, and industry experts and build relationships for access to new markets. He said that efforts would also be made to provide access to SMEs and startups to innovation resources so that they could develop new products/services and adopt new technologies for better growth.

Faad Waheed, Senior Vice President ICCI said that ICCI and EOI should also strongly advocate for policies and programs that support startups and SMEs. Engr. Azhar ul Islam Zafar, Vice President ICCI said that easy access to markets can help SMEs and startups to connect with potential customers and both organizations should focus on this area as well.