The National Incubation Centers (NICs) Program, a joint venture between the Punjab Information Technology Board (PITB) and the Ministry of Information Technology and Telecommunication (MoITT), has successfully graduated 261 startups as part of its National Expansion Plan (NEP) from January 2023 to December 2023. This significant achievement was highlighted during a progress review meeting led by PITB Chairman Faisal Yousaf at the Arfa Software Technology Park (ASTP).
According to the update provided during the meeting, the NEP NICs initiative saw 87 startups graduating from Punjab, 64 from Sindh, 20 from Azad Jammu and Kashmir, 39 from Khyber Pakhtunkhwa, 31 from Balochistan, and 20 from Gilgit Baltistan.
Chairman Faisal Yousaf emphasized that the primary goal of the National Expansion Plan of NICs is to democratize entrepreneurship, stimulate business activities nationwide, foster growth in the IT industry, and contribute to economic development in Pakistan.
He elaborated on the tailored incubation program designed to meet the needs of early-stage startups, operating on a zero-equity model.
Under this initiative, 13 tech incubation centers have been established in collaboration with public universities across the country. These centers provide startups with essential resources such as free-of-cost workspace, mentorship, networking opportunities, a monthly stipend, and business support, along with legal guidance for a duration of six months.
The concerted efforts of the NEP NICs initiative aim to cultivate a thriving entrepreneurial ecosystem and empower startups across Pakistan.
