Ignite – National Technology Fund, operating under the Ministry of IT & Telecom, has finalized an agreement with a consortium led by NETSOL Technologies Pakistan to establish and manage the National Incubation Center (NIC) Lahore for the next five years.
The consortium, which includes major partners such as HBL, Beaconhouse National University, PlugNPlay Tech Center, Daftarkhwan, Accelerate Prosperity, UET Lahore, and WCCI Lahore, aims to support startups specializing in AI, IoT, Cleantech, climatetech, and ICT. This initiative is designed to drive sustainable development, global impact, and inclusive growth.
With PlugNPlay Tech Center, an internationally recognized accelerator, as a partner, startups will have access to global accelerator programs. Additionally, in support of women entrepreneurs, at least 25% of the startups at NIC Lahore will be women-led.
Adeel Aijaz Shaikh, CEO of Ignite, expressed enthusiasm for the initiative, stating,
“We are thrilled to support the National Incubation Center Lahore as it embarks on a new phase of growth and innovation. Our ongoing commitment to fostering a dynamic startup ecosystem in Pakistan is reflected in our support for incubation programs across the country.”
Ayub Ghauri, Executive Director at NETSOL Technologies, highlighted the importance of the initiative, saying,
“Leading the National Incubation Center Lahore aligns with our commitment to innovation and entrepreneurship. By collaborating with esteemed partners and focusing on cleantech and AI, we aim to drive sustainable development and inclusive growth, fostering startups that will contribute to economic progress and job creation.”
Abrar A. Mir, Chief Innovation & Financial Inclusion Officer at HBL, added,
“We are excited to be part of this consortium and are optimistic about the potential of the startups emerging from NIC Lahore. HBL’s involvement underscores our belief in the ability of these ventures to drive significant economic and technological advancements in Pakistan.”
NIC Lahore will be relocated to Daftarkhwan Vogue on MM Alam Road in Lahore. The center is set to accommodate 50 startups annually in its incubation program and 10 startups annually in its acceleration program. Each startup in the acceleration program will receive PKR 5 million in funding from Ignite National Technology Fund.
