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Improved quality of life: Through entrepreneurship, new products and services are created that can
improve the quality of life for people. For example, SABAQ, a Pakistani ed-tech company, provides
free online courses and educational videos for students across the country, including in rural areas
where traditional educational resources might be limited. This has made learning more accessible,
particularly for students who might not have access to high-quality education in their local areas.

Encourages competition: When entrepreneurs create new businesses, it encourages other
businesses to work harder, improve their products, and offer better services. When Foodpanda,
an online food delivery service, started offering home delivery in Pakistan, it encouraged other
restaurants and food services to join the platform and offer better deals or improved services.
This kind of competition leads to better choices for consumers and drives businesses to be more
innovative.

In simple terms, entrepreneurs help make the world a better place by creating jobs, solving problems,
and bringing new ideas to life. They are an important part of building a strong economy.

TYPES OF ENTREPRENEURS

Entrepreneurs can be classified into different types based on their innovation, business ownership, the
nature of their business, area of operation, purpose, and growth strategy.

Based on Innovation

Entrepreneurs based on innovation focus on creating new ideas, products, or services that have never
existed before, aiming to bring change to the market.

Innovative Entrepreneurs

Innovative entrepreneurs are like inventors. They come up with brand new ideas or create new products
or services that haven’t existed before. Their goal is to bring something fresh into the market that will
make life better or easier for people.

Example:
Salman in Pakistan invented a mobile app called "HealthCare" that lets people book appointments with
doctors online. Before his app, people had to call hospitals or wait in long lines to see a doctor. Salman’s
app solved this problem by allowing people to book appointments from the comfort of their homes,
making healthcare more accessible.

Imitative Entrepreneurs

Imitative entrepreneurs are like copycats, but in a good way. They don’t come up with brand new ideas,
but they see a successful idea elsewhere and bring it to a new place, improving it or making it suitable
for local people. They help make good ideas even better and more accessible.

Example:
Foodpanda is an imitative entrepreneur. While food delivery apps existed in other countries, Foodpanda
brought this idea to Pakistan. It allowed people to order food from many restaurants and get it delivered
to their homes in major cities like Karachi, Lahore, and Islamabad. This was an improvement to the way
people usually bought food, making it much easier for busy families.

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