Ignite to Establish Jiddat Investment & Support Fund

Islamabad Wed, 23 October 2019: Ignite board of directors under the chairmanship of Mr. Shabahat Ali Shah, CEO, National Information Technology Board (NITB) approved to publicize the hiring of chief executive officer of the Company.
The board also approved to conduct a feasibility study to establish Jiddat Investment & Support (JIS) Fund through Planning Commission of Pakistan. The Fund will improve the access of early stage venture financing to startups thereby strengthening the entrepreneurial ecosystem of Pakistan. The study will analyze the key factors including economic, social, political, financial, legal, regulatory and other relevant conditions including supply and demand analysis that may impact and contribute towards successful operation of the fund.
The board gave its nod to National Grassroots ICT Research Initiative (NGIRI) Program for the year 2019-20 to promote R&D and innovation at grassroots level by providing financial support to selected Final Year Projects (FYP) of undergraduate students, enrolled in ICT related disciplines of public & private sector institutions.