LMKT is pleased to announce the formal launch of National Incubation Center (NIC) Hyderabad. Syed Amin-ul-Haque, Federal Minister for IT & Telecom inaugurated the state-of-the-art incubation center, which aims to tap into the entrepreneurial spirit of Hyderabad.

LMKT in collaboration with Pakistan’s leading ICT provider PTCL will run NIC Hyderabad, a Ministry of Information Technology and Telecom (MoITT) and Ignite funded initiative.

The inauguration ceremony of the NIC was attended by Asim Shahryar Husain, CEO Ignite, along with Board Members of Ignite and other distinguished guests from the industry and academia. The guests also went around the facility and interacted with the 20 newly inducted start-ups.

At the ceremony, Syed Amin-ul-Haque had the following to say:

“The government of Pakistan encourages its vision to establish an infrastructure which can boost the IT exports and investment in Pakistan. We have crossed a $2.6 Billion mark this year. This ever-expanding network of incubation centers will promote entrepreneurship and innovation in Pakistan”.

Largest Incubation Footprint in Pakistan

LMKT has the largest tech incubation footprint in Pakistan. NIC Hyderabad will be the third LMKT-operated National Incubation Center. The company currently operates NICs in Peshawar and Karachi.

Speaking about the initiative, CEO LMKT Atif Rais Khan said:

“NIC Hyderabad is yet another passion project for us and we are committed to take it to its destined heights”

 

CEO Ignite Asim Shahryar Husain added:

“Despite the global downturn in startup investments, Pakistani startups have raised more than $325 million in 2022 so far. Ignite is committed to capacity building of the startup ecosystem of Pakistan and our goal is to create unicorns from Pakistan by 2025“

Vice Chancellor, University of Sindh, Dr. Siddique Kalhoro, in his address encouraged the entrepreneurs to continue on the path of innovation and reaffirmed the support of his institution in their endeavors. He said, “we are eager to strengthen the entrepreneurial infrastructure with modern day ideas”.

Speaking at the occasion, Muhammad Bilal Abbasi, GM Projects, said that Ignite is also planning to launch vertical incubators in aerospace, animation, and healthtech by next year.

Syed Azfar Hussain, Project Director of NIC Hyderabad highlighted the focus areas for the Center, while talking about the overwhelming response he has received from the city.

Ignite has established the largest incubation network in Pakistan with seven incubators at present which have incubated more than thousand startups so far which have created around 115,000 jobs and raised funding of $73 million so far.

About LMKT:

LMKT is a full-service technology company based out of Pakistan offering scalable IT solutions. Formally incorporated in 2010 the company has a pedigree of nearly three decades. LMKT specializes in smart cities, smart buildings, integrated security, e-governance, clean technology and agri-tech solutions in its pursuit to support the country’s fast growing economy and rapid urbanization.