In a major boost for Pakistan’s startup scene, 160 startups graduated from the inaugural XSEED Incubation Program, a pioneering initiative by technology company LMKT and INSEAD Business School.
The ceremony, held last week in Karachi, marked the end of an intense year-long journey, during which 336 startups from across the country faced the real-world challenges of building and scaling businesses. Of these, 160 emerged stronger, having navigated the tough terrain of entrepreneurship and hit key milestones that could change the future of Pakistan’s business landscape.
The XSEED Incubation Program is designed to support ideation-stage startups in Pakistan, equipping them with essential strategies for success. The program is a collaboration between INSEAD Business School and LMKT, and aims to empower entrepreneurs to drive innovation, tackle societal challenges, and scale their businesses for global impact.
Pakistan’s startups are paving the way for scalable, sustainable solutions
Dr. Chiara Spina, Assistant Professor at INSEAD and Founder of the XSEED Program, reflected on the incredible transformation of the participating startups, praising their disciplined approach to growth.
“These entrepreneurs have demonstrated remarkable discipline in leveraging customer feedback and empirical evidence to drive their strategic evolution. The growth trajectory and market traction of the companies that took part in XSEED is exceptional, establishing a foundation for enterprises that will scale meaningfully, address critical societal challenges, and generate substantial economic value within local communities,” she said.
Expressing her enthusiasm and optimism about Pakistan’s startup ecosystem, she shared her thoughts in a social media post: “The first XSEED cohort is showing that the next wave of impactful solutions won’t just come from traditional startup hubs, but from entrepreneurs who understand their communities’ needs and are committed to using a disciplined approach.” She added that “As we look toward 2025, I’m more convinced than ever that Pakistan’s entrepreneurial ecosystem will be one to watch. These founders aren’t just building businesses – they’re creating new paths for sustainable, scalable impact in emerging markets.”
She also thanked LMKT and NIC Karachi for their support and partnership for the XSEED program.
XSEED Incubation Program in Pakistan
The XSEED program, designed by INSEAD’s world-class faculty, wasn’t just about business theory—it was about equipping founders with practical, hands-on strategies to tackle the complex and unpredictable nature of scaling a startup. Over three months, participants went through a rigorous training program that pushed them to think creatively, make tough decisions, and build businesses with the potential to endure in a competitive, global market.
A notable highlight of the program was its inclusivity. 54 women-led startups, comprising nearly 25% of the cohort, successfully completed the program, showcasing the diversity and untapped potential of female entrepreneurs in Pakistan. These women are driving innovation in industries such as e-commerce, healthcare, and education.
Startups participating in the XSEED Program represented a wide range of sectors, including education (15%), e-commerce (14.7%), healthcare (10.6%), and waste management (3.7%), underscoring the program’s broad impact on tackling diverse societal challenges through innovative entrepreneurship.
Expert guidance key to XSEED’s success: mentors and industry leaders
Under the guidance of Dr. Chiara Spina, Assistant Professor at INSEAD and Founder of the XSEED Program, alongside Dr. Nenad Apostoloski, Managing Director of XSEED, the program provided entrepreneurs with advanced strategies and practical tools to foster innovation and address real-world challenges.
The XSEED initiative benefited from the expertise of eight seasoned coaches, INSEAD faculty, and top industry mentors, who supported startups across various sectors. With more than 900 applications received, the high demand underscores the tremendous entrepreneurial potential within Pakistan. Their hands-on support, along with LMKT’s vast experience in tech incubation, smart cities, and agri-tech, ensured that the entrepreneurs had the tools they needed to succeed.
Asim Ishaq Khan, Vice President at LMKT, emphasized the importance of the XSEED initiative in fostering innovation within Pakistan’s startup landscape: “LMKT is deeply committed to fostering a thriving entrepreneurial ecosystem in Pakistan. Through XSEED, we have not only empowered startups but also strengthened the foundation of innovation and collaboration in the country. Today is a celebration of what we have achieved together, and what lies ahead.”
The Graduation Day event was attended by industry leaders, mentors, and key players from Pakistan’s entrepreneurial ecosystem. Among the distinguished guests were representatives from Yunus Brothers Group, Orbit Startups, Katalyst Labs, TPL Maps, and the Government of Sindh.
The XSEED Incubation Program not only marked a milestone for the 160 graduating startups but also laid the foundation for the continued growth of Pakistan’s entrepreneurial ecosystem.
