National Incubation Centre Islamabad, overseen by Ignite- National Technology Fund, is slated to launch in April, marking a significant step towards fostering innovation and entrepreneurship in Pakistan.
Scheduled for operation between April 15 and 20, 2024, preparations are underway to kickstart this initiative aimed at nurturing technology startups.
An agreement inked in February between Ignite and a consortium led by Pakistan Services Limited (PSL) – Hashoo Group outlines the management of the National Incubation Center Islamabad for the next five years.
This partnership, which includes entities like Fauji Foundation, Telenor Pakistan, Change Mechanics, CyberVision International, and Founder Institute, seeks to bolster Pakistan’s economic growth and job creation through technological innovation.
According to Ignite, since its inception, National Incubation Centers across the country have provided support to over 1,480 startups, resulting in the creation of more than 188,000 direct and indirect jobs and attracting investments worth Rs. 23 billion, with a revenue generation of Rs. 16 billion.
Notably, the NIC Islamabad has already incubated 295 startups, including 136 female-founded ventures. This initiative has contributed to the creation of 23,597 jobs and generated revenue amounting to Rs. 7.05 billion while securing investments worth Rs. 7.88 billion.
NIC Islamabad aims to expand on the achievements of its predecessor by offering a comprehensive range of services tailored to support startups. These services include cutting-edge workspaces, access to venture capital, mentorship from industry experts, UI/UX design labs, maker spaces, and a focus on key technological sectors like Artificial Intelligence, Internet of Things, Robotics, Health, and Augmented/Virtual Reality.
