Two Karachi enterprises become the first to move through the partnership’s full pathway, from Accelerate Prosperity’s business support to SEDF’s KIBOR-based markup subsidy
KARACHI, [1 October, 2026] – The Sindh Enterprise Development Fund (SEDF), a Government of Sindh initiative under the Investment Department, and Accelerate Prosperity (AP), a regional impact investor and enterprise accelerator and an initiative of the Aga Khan Development Network (AKDN), have partnered to widen access to affordable formal finance for startups and small and medium enterprises (SMEs) across Sindh.
Through this partnership, they have disbursed financing to their first two businesses: Bioniks, a Karachi-based maker of affordable AI-powered prosthetic limbs, and Asani.io, a Karachi-based IoT company that builds smart water and utility management systems.
The disbursements are the first concrete results of the Memorandum of Understanding the two organisations signed in February 2026. The partnership sets up a referral-to-finance pipeline in which Accelerate Prosperity identifies high-potential startups and SMEs in Sindh and prepares them for formal finance. SEDF will evaluate the businesses against thier mandate and priority sectors, subsidises the KIBOR-linked interest on their bank loans for up to three years. This means entrepreneurs pay only the bank’s margin during their early years of growth.
Bioniks Technologies, founded in Karachi in 2016, makes affordable AI-powered prosthetic limbs locally, replacing imports that cost USD 10,000 to 15,000. Asani.io, founded in Karachi in 2021, builds smart IoT systems for managing water, power and gas, and has saved more than 18.6 million gallons of water across 1,200+ homes and 50+ commercial sites.
The financing will support the further expansion of their ventures through the purchase of technology and machinery. Both are innovation-led Sindh businesses with strong growth potential, exactly the kind the partnership was built to back.
The partnership addresses a long-standing gap in Sindh. Many promising SMEs have viable products and growing markets but struggle to access formal credit, either because of high borrowing costs, lack of collateral or because lenders see them as too risky. Pairing AP’s hands-on enterprise support and patient debt with SEDF’s subsidy tackles both problems at once: businesses arrive better prepared, and the finance they receive is cheaper.
The two businesses also show the wider outcomes both organizations are mandated to pursue. Each manufactures locally what Pakistan would otherwise import, creates skilled technical jobs, and delivers measurable social and environmental impact.
Mr. Khizar Pervaiz, Chief Executive Officer, Sindh Enterprise Development Fund, stated, “This partnership reflects SEDF’s commitment to improving access to formal finance for promising enterprises in Sindh. The financing extended to Bioniks and Asani.io marks a significant step in translating this collaboration into tangible support for Sindh-based startups and SMEs, and we look forward to supporting more enterprises through this partnership.”
Mr. Zahir Sakhi, Country Director, Accelerate Prosperity, Pakistan said: “Bioniks and Asani.io are proof of what entrepreneurs can achieve when good ideas meet the right support. Banks often pass over early-stage, high-potential businesses because they lack the track record and documentation lenders require. Accelerate Prosperity closes that gap by making these businesses bankable, and SEDF’s markup subsidy turns that readiness into affordable capital. These first disbursements show that the partnership works, and we look forward to bringing many more high-potential enterprises through the same pathway.”
About Accelerate Prosperity
Accelerate Prosperity is a regional impact investor and enterprise accelerator and an initiative of the Aga Khan Development Network (AKDN). It supports aspiring and existing entrepreneurs through incubation, acceleration, mentorship, business advisory, market connections and access to subsidised financing, particularly where traditional financing mechanisms may not adequately meet their requirements.
Accelerate Prosperity currently operates across Central and South Asia and, more recently, in Syria. As of 30 September 2026, it has invested in 741 businesses and supported the creation of 10,395 full-time jobs, while businesses supported by AP have subsequently raised USD 66.48 million in external financing following its investment.
About the Sindh Enterprise Development Fund (SEDF)
The Sindh Enterprise Development Fund is an initiative of the Government of Sindh operating under the Investment Department. SEDF works to promote investment in micro, small and medium enterprises (MSMEs) and strengthen entrepreneurial capacity across Sindh.
SEDF facilitates investment and enterprise development through technical assistance, feasibility support, credit facilitation and one-window services. In collaboration with partner financial institutions, SEDF provides KIBOR-based markup subsidies to reduce the cost of eligible financing and support the establishment and expansion of businesses across priority sectors of the provincial economy.
Through its programmes and partnerships, SEDF seeks to contribute to sustainable economic growth, employment generation, entrepreneurship development and greater financial inclusion across rural and urban areas of Sindh.
For more information: pk.accelerateprosperity.org
Link to photos: https://drive.google.com/drive/folders/11PHDoQO_6QFPyfmFJdLRxbJ_H3CcSMuh?usp=sharing
Bioniks