- April 24, 2018
- Posted by: LMKT Newsdesk
- Category: News
LMKT, an award-winning full-service technology company based out of Islamabad, along with its partners, announced at a press event on April 23 that the National Incubation Center Karachi will start its operations in May.
LMKT is setting up NIC Karachi in partnership with the NED University, HBL, PTCL, PPAF, Founder Institute and i2i, with funding from Ignite (formerly National ICT R&D Fund). The Incubator will provide talented entrepreneurs and promising startups from the Sindh region quality incubation programs; access to mentor and investor networks; and technical resources.
NIC Karachi will focus its resources on identifying and nurturing promising startups by running various programs that will range from two-day boot camps to year-long acceleration programs. This includes the center’s SPARK Accelerator program, which will look to digital transformation in thirteen areas of focus including fintech, real estate, commerce, cyber security and robotics.
NIC Karachi, which aims to incubate over 200 next-gen businesses in the first 5 years, intends to empower aspiring Sindh-based entrepreneurs to create high growth and sustainable businesses.
“A halt to innovation can create a gap between us [Pakistan] and Bangladesh in terms of development; this is what we see in comparison to Eastern Europe today,” CEO Ignite Yusuf Hussain said at the pre-launch event.
“As a major port city and one of the largest metropolises in the world, Karachi is a magnet for the country’s innovative young minds,” said President LMKT Shabana Khan. “Programs that support youth-led innovation are essential because they not only benefits our future generation but they moves us forward as a nation.”
“NIC Karachi aims to tap into the innovative spirit of the region by helping young minds create newer, disruptive solutions that can positively impact businesses by addressing their future challenges, today,” said Shahjahan Chaudhary, Project Director, NIC Karachi. “Our in-house innovation platforms such as Makers Labs, Innovation Labs, Design Lab and Fintech Lab will foster a unique partnership between world class enterprises and promising start-ups.”
After NIC Peshawar, NIC Karachi is LMKT’s second outing into the national incubation arena, where the company has proven its metal due to its long history of investing in promising startups and mentoring talented entrepreneurs. Along with other facilities, incubatees at NIC Karachi will have access to a design studio, NED University’s Makers’ Lab and a fintech center, a result of HBL’s collaboration on the project.