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Judging Sustainability in Startups in Pakistan: A Qualitative Study of Evaluation Criteria
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Author(s): Faryal Razzaq (Karachi School of Business and Leadership, Pakistan), Sana Ashfaq (IMDC, Pakistan), Glenn Muschert (Khalifa University of Science and Technology, UAE)and Muhammad Bin Ashfaq (RIHS, Pakistan)
Copyright: 2024
Pages: 26
Source title:
ESG Frameworks for Sustainable Business Practices
Source Author(s)/Editor(s): Biju Ajithakumari Vijayappan Nair (University of Kerala, India), Glenn Muschert (Khalifa University of Science and Technology, UAE)and Ambili Jayachandran (University of Kerala, India)
DOI: 10.4018/979-8-3693-3880-3.ch013
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Abstract
Startups success is detrimental to foster economic growth of any country. what are the criteria that the winning pitches/startups have? Do the evaluators give sufficient weightage to the business process's environmental sustainability practices and social aspects? We interviewed 13 most influential players in the Pakistani startup ecosystem engaged in the selection process. This is a qualitative study with constructivist grounded theory approach using thematic analysis. We found only 10% startup in Pakistani Eco-system are working on social and environment, and the judging criteria is also 0-10% only social and environment incubators use 20-40%. Developing countries could benefit from the findings and themes identified. The research will be significant for the policy makers, training for the startup evaluators and setting more robust criteria incorporating ESG frameworks for selection and funding. Study reveal the mindset that prevails among the decision makers selecting startups, as they have a trickledown effect for focusing on sustainability.
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