Staff Reporter
Islamabad
The National Incubation Centers (NICs), operating in five major cities of the country have so far trained around 127 promising entrepreneurs in starting and successfully running their own businesses.
According to the data shared about NICs outcome, as many as 127 startups had so far graduated from the Centers that generated over Rs 1 billion revenue, created millions of jobs empowered more than 480 females with the help of 120 mentors deployed at the Incubation facilities.
The NICs, established under the auspices of Ministry of Information Technology and Telecom, were operating in the country with the objective to help the budding professional in initiating startups, keeping in mind their critical role in economic growth, job creation, financial inclusion, reducing the income divide, and building a knowledge-based economy.
Currently, all five NICs in Islamabad, Lahore, Peshawar, Karachi and Quetta, are housing 440 promising startups, which have been provided mentorship and networking by leading entrepreneurs, corporate chieftains, top professionals, investors and global entrepreneurial organizations through numerous events and meet-ups.
The government has a vision of accelerated digitization and transformation of Pakistan into a knowledge-based economy to spur economic growth through innovation and entrepreneurship.
Startups is playing vital role in economic growth, job creation, financial inclusion, reducing the income divide, and building a knowledge economy.
The startups are also provided rent free office space, high speed broadband Internet, makers lab, usability labs, Fintech Lab, Design Thinking Lab, Artificial Intelligence Research and Development Centers, and a host of shared facilities.
The NICs have the capacity to accommodate 170 incubatees annually, 40 each in Lahore, Karachi and Islamabad while 25 each in Peshawar and Quetta.
The allocated area for the five NICs is approximately 94,000 square feet, whereas the total project duration for each NIC is five years and three months inclusive of establishment period.
