Ignite – National Technology Fund, a company incorporated under the Ministry of IT & Telecom, has signed an agreement with a consortium led by LMKR to operate the National Incubation Center (NIC) in Peshawar. This consortium includes prominent partners like Orbit Startups, an international investment accelerator and the most active VC in Pakistan. Other key partners include LMKT, Accelerate Prosperity, Sybrid (a Lakson Group Company) and Institute of Management Sciences, Peshawar.
The new chapter of NIC Peshawar is strategically supported by over 80 ecosystem partners, significantly enhancing the opportunities and resources available to NIC Peshawar startups. NIC Peshawar aims to expand horizons, embrace cutting-edge technologies and foster a global perspective. This vision will guide efforts to nurture startups that not only excel locally but also compete on the international stage.
Adeel Aijaz Shaikh, CEO Ignite, stated “We are proud to support the National Incubation Center Peshawar as it embarks on this new phase of growth and innovation. Our commitment to fostering a thriving startup ecosystem in Pakistan is reflected in our ongoing support for the National Incubation programs across the country. We believe that the center will continue to drive economic growth, create job opportunities, and produce groundbreaking technological solutions that have a far-reaching impact.”
Atif Rais Khan, Chairman and CEO LMKR, reflected on this new phase of the NIC and added “In its first phase LMKT-operated NIC Peshawar did the groundwork to establish and enhance the then-emerging startup ecosystem of Khyber Pakhtunkhwa. Now, in this next chapter, with our international and local partners, we plan to build up on our successes and provide startups with the opportunities and skills necessary to win in the global arena.”
About NIC Peshawar
Established in 2017, the National Incubation Center Peshawar is dedicated to fostering innovation, entrepreneurship, and technology development in the region. NIC Peshawar aims to create a vibrant ecosystem that drives economic growth and development by providing startups with the resources, mentorship, and support they need. The incubation program has supported over 200 startups, generating revenues and attracting investments exceeding PKR 7 billion, demonstrating its significant impact.
About Ignite
Ignite National Technology Fund supports startups and innovative projects that utilize the 4th industrial wave tech to solve local problems and target global opportunities in AI & Big Data, Cloud infrastructure, Cybersecurity, AR & VR, Robotics, NeuroTech, and other verticals.
About LMKR & LMKT
LMKR is a technology company with an extensive solutions portfolio that includes reservoir-centric interpretation, smart urbanization, agri-tech, big data services, AI-driven technology solutions, and consulting. LMKT, a tech innovator headquartered in Pakistan, crafts scalable IT solutions with precision and impact. LMKT’s expertise extends to tech incubation, smart cities, smart buildings, agri-tech, and clean technology – all aimed at propelling Pakistan’s booming economy and navigating the path of rapid urbanization.
