The Prime Minister’s National Innovation Award (PMNIA) on Tuesday initiated the incubation phase for Round 1 and 2 awardees with the formal signing of a tripartite contract involving the awardees, Host Incubator, and the Higher Education Commission (HEC).
The signing ceremonies were held at the Institute of Management Sciences, Peshawar; Pak-Austria Fachhochschule Institute of Applied Sciences and Technology (PAF IAST); National University of Sciences and Technology (NUST), Islamabad; University of the Punjab, Government College University; and University of Engineering and Technology (UET) Lahore, a press release saidxc.
PMNIA, a cornerstone of the Prime Minister’s Youth Programme executed by the HEC, acts as a unique catalyst fostering a culture of innovation and entrepreneurship.
It empowers young entrepreneurs to transform their ideas into tangible solutions, with 100 startup ideas earning cash prizes, through a rigorous selection process in two rounds, the top 10 startups in each round secured a substantial prize of Rs 1 million each, while the remaining 40 received support of Rs 0.5 million each.
In this next phase, awardees are set to receive a seed grant of Rs 1 million upon consenting to a 6-month incubation programme at designated incubators.
A network of 18 incubators nationwide, in collaboration with HEC, is poised to deliver comprehensive incubation services, encompassing training, mentorship, and networking opportunities with potential clients and investors.
