ISLAMABAD: Ignite – National Technology Fund, a company registered under the Ministry of IT & Telecom, has given significant support to Pakistan’s emerging technology and startup ecosystem by signing an agreement with a consortium led by Netsol Technologies Limited to set up and operate a National Incubation Center. (NIC) Lahore for the next five years.
This consortium included prominent partners like HBL, Beacon house National University, PlugNPlay Tech Center, Daftarkhwan, Accelerate Prosperity, UET Lahore and WCCI Lahore. The consortium aims to strengthen start-ups focused on AI, IoT, Cleantech, climate and ICT that serve as gateways to sustainable development, global impact and inclusive growth.
NIC Lahore will be relocated to Daftarkhwan Vogue on MM Alam Road in the heart of Lahore. It will host 50 startups annually in its incubation program and 10 startups annually in its accelerator program, with each startup receiving accelerator funding from the Ignite National Technology Fund.
With the leading international accelerator PlugNPlay Tech Center as a partner, startups will have the opportunity to participate in international accelerator programs around the world. As part of a commitment to support women entrepreneurs across Pakistan, at least 25% of startups at NIC Lahore will be led by women.
Adeel Aijaz Shaikh, CEO of Ignite, said: “We are excited to support the National Incubation Center Lahore as it enters an exciting new phase of growth and innovation. Our commitment to nurturing a vibrant startup ecosystem in Pakistan is demonstrated by our continued support of nationwide incubation programs. We are confident that the center will remain a catalyst for economic development, job creation and pioneering technological advancements with broad impact.”
During the ceremony, Ayub Ghauri, Managing Director of Netsol Technologies said, “At Netsol Technologies, we are excited to lead the National Incubation Center Lahore. This initiative reinforces our commitment to supporting innovation and entrepreneurship in Pakistan. Through partnerships with recognized organizations and a focus on clean technologies and artificial intelligence, we strive to promote sustainable development and inclusive growth. We believe this center will support pioneering startups, contribute to economic progress and create valuable employment opportunities for our youth.”
Speaking on the occasion, Abrar A. Mir, Chief Innovation & Financial Inclusion Officer – HBL said, “We are excited to be a part of this consortium and see great potential in the startups that will emerge from the National Incubation Center Lahore. As Pakistan’s leading bank, HBL’s commitment to invest in these innovative businesses underscores our belief in their ability to drive significant economic and technological progress in Pakistan. For HBL, digitization is a means to a greater end: the financial inclusion of unbanked and unbanked communities. HBL’s digital transformation journey has revolutionized the way the bank connects with its clients and enables them to manage their finances with ease.”
Dr. Moeed Yusuf, Vice-Chancellor, Beaconhouse National University (BNU), said: “BNU is proud to be part of the Lahore National Incubation Center as it aligns with the University’s commitment to youth development and education. For BNU, this is not just a project, it represents a passion. Our aim is not to produce any product, we want to work with our consortium partners to ensure that Pakistan produces unicorns. Bringing the diverse expertise and interdisciplinary ethos of our faculty to NIC, we hope to help young entrepreneurs turn their innovative ideas into successful businesses that will drive our country’s future growth and prosperity.
In closing, Salim Ghauri, CEO and Founder of Netsol Technologies endorsed NIC Lahore by saying, “This initiative is a testament to our commitment to empowering young people to drive innovation in the fields of high technology and artificial intelligence. By providing the necessary support and infrastructure, we aim to nurture a new generation of technology leaders who will push the boundaries of what is possible and contribute to the global technology landscape.”
