National Innovation Centers on TechFin, IoT and Robotics would be the Key Drivers of Digital Economy

Further to the approval of National ICT R&D, Board of Directors, under the chair of Minister for IT, Anusha Rahman in last meeting held on January 6th, 2017, the preliminary work for the formulation of RFPs for the creation of National Centers of Innovation in the emerging technologies of TechFin, IoT and Robotics has been started. These centers would serve as harbingers of growth for digital services in Pakistan and would be a tremendous addition to Pakistan’s thriving ICT landscape. Each of these centers will become enabling hubs to transform ideas into commercially viable products by providing access to state-of-the art infrastructure, equipment and resources to startups, students and industry seeking to devise innovative products and solutions. These centers will also facilitate the commercialization of developed products and solutions through national and international collaborations.

Minister for IT, Ms. Anusha Rahman opined, “Pakistan has a huge potential for the growth of Digital Economy on the heels of phenomenal penetration of internet coupled with enabling eco system for Digital Entrepreneurship. It is a driver of innovation, competition and growth and posits immense potential for entrepreneurship. Integrating digital technologies in key fabric of economy will be the key determinant of future growth. Evolving Digital trends such as IoT, TechFin, and Robotics are radically transforming the business landscape, re drawing nature of work, and re shaping the boundaries of enterprises. Pakistan’s Digital Landscape is ripe to tap into this sea of opportunities. Our Government is fully determined to provide an enabling environment through these centers of Excellence to spur innovation in business models, business networking, and transfer of knowledge and access to international markets for Job Creation through Digital Entrepreneurship as realization of our vision for a Digital Pakistan”

Minister further stated: “Currently TechFin companies find it difficult to test their products as banks and other financial institutions are understandably unwilling to provide them access to their proprietary, secure networks. By providing access to such networks and simulators the National Tech Fin Innovation Center, will enable startups to prototype and test their products thereby surging innovation in the financial sector and promoting financial inclusion.” These centers will be yet another milestone for the Company under the auspices of Ministry of Information Technology &Telecommunications, which is committed to significantly enhance the ICT research, development and commercialization in the country.