October 10, 2021: Galaxy Racer, the world’s fastest-growing eSports company, takes a massive leap by signing a Memorandum of Understanding (MoU) with the newly established Special Technology Zones Authority (STZA) in the presence of Honorable President of Pakistan, Dr. Arif Alvi, at a special ceremony held in Dubai, UAE.
STZA has been set up by the federal government with a mandate to provide the world-class digital and physical infrastructure through setting up Special Technology Zones (STZs) across the country and putting Pakistan on the global technology radar. The Prime Minister of Pakistan, Mr. Imran Khan, is the President of the STZA Board of Governors (BoG). The Authority aims to build knowledge ecosystems for an entrepreneurial, innovative, and tech-driven future of the country. Galaxy Racer has become the first esports company to establish itself with STZA.
On the occasion, the GXR Group also announced that they plan to host some of the biggest esports tournaments in Pakistan with esports titles such as Tekken, PUBGM and FIFA that offer a total winning prize of 100,000 USD. It is scheduled to be held in December 2021. The events will also be hosted at an Influencer Con, and a Toys and Gaming Festival, bringing the world of entertainment to Pakistan. Further details will be announced soon. Pakistan has recently legitimized esports in 2021, by granting it the ‘regular sports’ status, a big win for the esports industry.
Fakhr-e-Alam, who was the first-ever Pakistani startup entrepreneur to be invited by Google to their Mountain View HQ in 2017, has said that the forthcoming esports tournament will be the first in Pakistan to be televised nationwide through a partnership with Ten Sports Pakistan.
With the rise of mobile games, developing countries have been recognized as one of the largest untapped emerging markets for esports and gaming. With 100 million broadband subscribers, Pakistan’s gaming scene has the potential to dramatically evolve and many youngsters have already made their mark.
Galaxy Racer has a global footprint with over 400 million followers worldwide, with over 2 billion monthly views. Esports has gradually grown in popularity over the years and the global market is set to reach US$1 billion for the first time in 2021, according to a report by esports data intelligence firm, Newzoo.
Chairman of STZA, Mr. Amer Hashmi, also emphasized the importance of creating opportunities for the Pakistani youth in the high-potential esports industry. In a country where an average Pakistani is a 23-year-old, it is about time that the government recognized, supported, and facilitated their interests to encourage futuristic entrepreneurship opportunities.