PITB, IdeaGist sign MoU for entrepreneurs’ access to global market


Staff Reporter


The Punjab Information Technology Board (PITB) on Friday signed a Memorandum of Understanding (MoU) with IdeaGist, an exclusive digital platform of ‘Prime Minister’s Start-up Pakistan Program’, to ensure foreign investors’ access to the country’s entrepreneurs.
Both the signatories would collaborate to create a mechanism for marketing the country’s youth innovations, skills, techniques and inventions, a press release received here said.
Speaking at signing ceremony, Chairman PITB, Azfar Manzoor appreciated the world’s largest digital incubator’s (IdeaGist) a huge financial commitment of 100 million US dollars to support of the prime minister’s start-up Pakistan movement.
He said it would provide great help to the country to develop and apply emerging technologies by offering entrepreneurial ventures to around 1 million students.
The initiative would help to sensitize youth about starting their own businesses, he added.
IdeaGist’s Chief Executive Hassan Syed said he had decided to invest in Pakistan for the development of start-up ecosystem after the government of Pakistan Tehreek-e-Insaf assumed the charge in the country.
Syed said the Prime Minister’s Startup Program came up with its motto of inclusive and sustainable program and the IdeaGist was focusing to work for the program on sustainable financial basis.
On last Saturday, he announced to support Prime Minister’s vision on entrepreneurship and innovation in emerging technologies by increasing IdeaGist’s technology investment from US$ 55 million to $100 million.