Peshawar, Pakistan – 24/10/19 – LMKT-operated National Incubation Center, Peshawar hosted the inaugural Graduation Ceremony for the 14 startups of its first and second cohort.
Dr. Khalid Maqbool Siddiqui, Federal Minister for Information Technology and Telecom, was the Guest of Honor for the Ceremony, which was also graced by CEO NITB Shabahat Ali Shah and attended by the who’s who of Pakistan’s startup ecosystem.
Inaugurated in January 2018, NIC Peshawar is an initiative funded by Ignite and Ministry of IT and Telecom, which LMKT operates in collaboration with PTCL. The Center has played a crucial role in the development of KP’s diverse entrepreneurial ecosystem in a very short time span. This is clearly evidenced in the Center’s graduating startups, which belong to varied array of industries, including education, health, AR/VR, e-commerce, lifestyle, eco-friendly transportation, gaming and delivery services.
These startups that have already made their mark in their respective domains have so far created over 2300 direct and indirect jobs, raised investments of over PKR 192 Million and increased their revenue to over PKR 120 Million.
Addressing the ceremony, Dr. Khalid Maqbool Siddiqui reaffirmed the Government’s commitment on enabling the region’s talented innovators.
Atif Rais Khan, CEO LMKT, congratulated the graduating startups and reiterated the importance of public-private partnerships for successful projects like NIC Peshawar. He added that “the government needed to incentivize private companies.”
CEO Ignite Yusuf Hussain commented that “For every Rupee the Government has put in, the private sector has invested seven.”
While sharing his thoughts with the audience CEO National Information Technology Board Shabahat Ali Shah added his two-point recipe for a Startup success, Instinct and a great team. He reminded all present that “A single person can’t steer the ship alone. You need a great team.”
Murtaza Zaidi, Director NIC Peshawar, thanked all the esteemed guests for attending the ceremony and encouraging the graduating startups. He added, “The success of these startups speaks volumes about the commitment, dedication and hard work of these innovators. All of these startups have proved themselves in the market and shown the world, the potential this land possesses. ”
Through NIC Peshawar, LMKT along with its partners will continue to work on our pledge to revitalize KP’s entrepreneurial scene. Our commitment to this goal is reflected in the ongoing success of NIC Peshawar and these graduating startups.
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.
About NIC Peshawar
National Incubation Center Peshawar is a joint venture of LMKT and PTCL that is backed by the Ignite Fund, formerly known as ICTR&D Fund. Inaugurated on January 13, 2018 by then Prime Minister of Pakistan, Shahid Khaqan Abbasi, the Center is part of Ignite’s National Incubation Center Program. An extension of LMKT’s decade long tradition and commitment towards startup ecosystem, NIC Peshawar works with all of its partners and advisors to create an environment that enables and nourishes the entrepreneurs of Khyber Pakhtunkhwa.