The Pakistani tech startup industry witnessed many highs in the last couple of years — record-breaking funding rounds, debuts by marquee global investors, and the emergence of founder “mafias,” among others. If all goes well, the world’s fifth-most populous country might bag another win soon: its first home-grown tech unicorn.

As neighboring India produced its 100th Pakistani tech startup unicorn this month, many in the Pakistani tech startup community are waiting with bated breath for a local company to touch the aspirational $1 billion valuation. Local investors say that having a unicorn will validate Pakistan’s potential and cement its place as a startup destination.