LMKT, an award-winning full-service technology company based out of Islamabad, is pleased to announce that the National Incubation Center (NIC), Karachi was formally launched in a May 11 ceremony.
The Honorable Prime Minister of Pakistan Shahid Khaqan Abbasi was the Chief Guest of the ceremony and Minister of IT&T Anusha Rahman was the Guest of Honor. Renowned dignitaries from the public and private sectors were also in attendance at the event.
The Karachi-based incubation center will be operated by an LMKT-led consortium, comprising of PTCL, NED, Habib Bank Limited and Pakistan Poverty Alleviation Fund, PPAF, while the funding for the center will come through the Ministry of IT&T and Ignite Fund (formerly known as National ICT R&D Fund) under their National Incubation Center Program. The incubator will connect budding entrepreneurs and promising startups with mentors, investors and new business opportunities. A 12-week experiential learning program aims to produce impact entrepreneurs, who will also benefit from intensive 1-on-1 coaching programs as well.
NIC Karachi is perfectly placed to attract the country’s talented youth and make a true impact in the country’s economic future. As the Prime Minister pointed out during his speech “Karachi is the heart. Karachi succeeds, Pakistan succeeds.” The Prime Minister also expressed his desire to allocate more of the government’s funds towards the startup sector at the ceremony.
According to CEO Ignite Yusuf Hussain,
“for aspiring entrepreneurs and startups looking to solve meaningful problems and change the world, NIC Karachi is the place to be.”
Minister of State for Information Technology and Telecommunication, Anusha Rahman added,
“I’m looking forward to the synergies and transformative solutions NIC Karachi will create with the support of its partners.”
Shahjahan Chaudhary, Project Director, NIC Karachi, expressed belief that the center’s
“in-house innovation platforms such as Makers Labs, Innovation Labs, Design Lab and Fintech Lab will foster a unique partnership between world class enterprises and promising start-ups.”
Atif Rais Khan, CEO LMKT said,
“Pakistani youth has tremendous untapped potential and NIC Karachi can make an enormous impact on the country’s economic future by nurturing the inventive spirit of the younger generation.” He further added, “we need innovation and independent thinking to thrive in the fourth industrial revolution.”
Vice Chancellor NED University Sarosh Hashmat Lodi expressed hope that
“combining the strengths of the academia and the business world will ensure that our budding entrepreneurs are truly ready for the real-world challenges.”
LMKT along with its partners won the contract for NIC Karachi in February. The company also operates NIC Peshawar which officially started its operations in January.