Karachi 24 August, 2020: National Incubation Center (NIC) Karachi held a ceremony in which 19 high growth startups incubated under 2nd and 3rd cohort made the graduation walk. Over the course of their incubation, these startups took part in various training programs and activities to nurture as businesses besides networking with potential investors and industry experts of both public and private sector.
Syed Amin Ul Haque, Federal Minister for IT and Telecommunication gracing the event as chief guest applauded the graduating founders for choosing the entrepreneurial path for a better tomorrow. He said, the cultural shift to transform Pakistan into a startup economy cannot be achieved without the enthusiasm and drive of our youth. He vowed that IT Ministry fully backs young entrepreneurs who have the innovative ideas to unlock the economic potential of Pakistan.
On this occasion Syed Junaid Imam Member IT, Ministry of IT & Telelcom and Dr. Muhammad Tufail Pro VC NED University signed a MoU under which MOITT can engage requisite resources of NED University (both teachers and students) on different policy initiatives, research studies, industry analysis and group discussions. Whereas NED University will be provided with an opportunity for students and researchers to work on real time industry scenarios/ challenges / case studies etc.
Syed Junaid Imam, CEO Ignite said realizing the need for a robust innovation ecosystem in Pakistan, we are engaging with all key stakeholders through a multitude of interventions for building a robust innovation ecosystem for startups and entrepreneurship. He said startups are the epicenter of innovation and are fueling the growth of economies worldwide by creating new jobs, financial inclusion, reducing the income divide, contributing to the GDP and raising the standard of living.
Along with a congratulatory note CEO, LMKT, Atif Rais Khan mentioned the achievements of the previous batch of graduating NIC Karachi startups and encouraged the current outgoing batch to aim for similar heights.
NIC Karachi is an Ignite – National Technology Fund funded project that is managed and operated by LMKT in collaboration with PTCL, HBL, PPAF and NED University. The aim of the project is to facilitate and train aspiring entrepreneurs and startups from across Sindh through various program offerings and events.
Shahjahan Chaudhary, Project Director, NIC Karachi emphasized the importance of collaboration between stakeholders to enable more young entrepreneurs to take on the startup journey. Senior officials of IT Ministry and Ignite also attended the graduation ceremony.
