Pakistan’s accelerator Invest2Innovate hails over 200 jobs created by social impact startups

Pakistani startup accelerator Invest2Innovate (i2i) began operations in 2011, and in the past few years has mentored 16 young businesses. Graduate startups from i2i have raised US$700,000 in investment so far, according to the accelerator.

The Islamabad-based accelerator counts 35 mentors in its network, including 15 who are active investors.

“The i2i accelerator has a clearly defined policy of working only with startups that are socially innovative,” explains communications manager Saad Hamid. “However, at the same time, we do not accept businesses for mentorship that are not already up-and-running.”

One of the most important metrics of success at i2i is the number of new livelihood and employment opportunities created by its startups. Since the first incubation process, over 200 new jobs have been created by the startups and the businesses they run, as shown in the accelerator’s own infographic (below). Fashion startup Popinjay is cited as one of i2i’s biggest success stories, with revenue that increased by 600 percent since graduating from the accelerator, as well as employment of 160 rural artisans and trainers who make its handcrafted products.

See: Popinjay dreams of making poverty a thing of the past for Pakistani women

The focus on socially-innovative businesses is of paramount importance to Pakistani society. Poverty affects approximately 40 percent of people living in the country, with around 77 million estimated to be food-insecure. The International Food Policy Research Institute ranks Pakistan as one of the 26 countries in the world where unemployment, coupled with rising food prices, have combined to present a serious challenge for policy makers.

Apart from mentoring startups, i2i also works as an advisory body for the World Bank, the Consultative Group to Assist the Poor, and the US Institute of Peace, to design strategies and workshops for entrepreneurship-related activity in Pakistan. Amidst all this, social impact by creating jobs and solving real issues remains the primary focus.

Next up for i2i is regional expansion. The plan is to use all its experience in Pakistan to open an accelerator in Bangladesh, a country with similar dynamics and an established need for socially-innovative startups.

See: The Pakistan tech accelerator with a heart wants to help solve real problems