The founding of the Tech House is a significant milestone in the digital cooperation between Pakistan and Saudi Arabia.
Prince Fahad bin Mansour Al Saud of Saudi Arabia announced on Saturday the opening of a special Saudi-Pakistan Tech House to facilitate trade between the two countries.
In a virtual address at the Future Fest 2023 conference, the prince, who is a co-founder of the tech giant ILSA Interactive, which was established in 2009 by Pakistani entrepreneur Salman Nasir, made the announcement.
The founding of the Tech House is a significant milestone in the digital cooperation between Pakistan and Saudi Arabia. The prince had earlier announced more than 300 projects that he hoped would generate more than 1,000 jobs for Saudis and Pakistanis worldwide.
“I’m deeply honoured to be a part of such a respected and prestigious gathering of the IT industry with thought leaders of Pakistan at the country’s largest tech conference and expo, Future Fest 2023,” Prince Fahad said during his address.
“My trip to Pakistan began five years ago to investigate the viability of opening an IT firm in Lahore,” he continued. According to him, Pakistan has “very talented resources in all fields; technical resources, user experience resources, and quality assurance resources have been great to work with.”
He expressed satisfaction with the “delegation of Saudi startups” attending Future Fest 2023 and noted that Saudi “venture capitalists will have the opportunity to meet Pakistani companies and key stakeholders to explore investments, partnerships, acquisitions, and talent recruitment” at the conference.
Under the direction of the Custodian of the Two Holy Mosques, the Kingdom’s Vision 2030 roadmap—which has seen a boom in the technology sector—was highlighted by Prince Fahad bin Mansour Alsaud.
He emphasised that ILSA Interactive is a reflection of the leaders of both Pakistan and Saudi Arabia’s determination to further deepen their strategic relationship in all areas and that they have plans to form alliances with IT firms, academic institutions, and major businesses in Pakistan.
He declared that the House will have its main office in Riyadh and its initial branch in Lahore.
The prince has extensive experience as a serial entrepreneur and is a thought leader in the development of startup policies. In addition to being the creator and CEO of Fayvo, he founded the non-profit organisation Entrepreneurship Vision and serves as the president of the Saudi G20 Young Entrepreneurs Alliance (YEA).