Agreement inked to operate NIC Peshawar

PESHAWAR: Ignite National Technology Fund, a company incorporated under the Ministry of Information Technology & Telecom here Tuesday signed an agreement with a consortium led by LMKR to operate the National Incubation Center (NIC) in Peshawar.

A communication said this consortium included prominent partners like Orbit Startups, an international investment accelerator. The other key partners include LMKT, Accelerate Prosperity, Sybrid (a Lakson Group Company) and the Institute of Management Sciences, Peshawar.

The new chapter of NIC Peshawar was supported by over 80 ecosystem partners, significantly enhancing the opportunities and resources available to NIC Peshawar startups.NIC Peshawar aims to expand horizons, embrace cutting-edge technologies and foster a global perspective.

This vision is expected to guide efforts to nurture startups that not only excel locally but also compete on the international stage.Adeel Aijaz Shaikh, CEO of Ignite, said: “We are proud to support the National Incubation Center Peshawar as it embarks on this new phase of growth and innovation.

“Our commitment to fostering a thriving startup ecosystem in Pakistan is reflected in our ongoing support for the national Incubation programs across the country.”He said the center would continue to drive economic growth, create job opportunities, and produce groundbreaking technological solutions that have a far-reaching impact.

Atif Rais Khan, the chairman and CEO of LMKR, said that in its first phase, LMKT-operated NIC Peshawar did the groundwork to establish and enhance the then-emerging startup ecosystem of Khyber Pakhtunkhwa.

He said we plan to provide startups with the opportunities and skills necessary to win in the global arena.Established in 2017, the NIC Peshawar was dedicated to fostering innovation, entrepreneurship, and technology development in the region.

NIC Peshawar aims to create a vibrant ecosystem that drives economic growth and development by providing startups with the resources, mentorship, and support they need.The incubation programme has supported over 200 startups, generating revenues and attracting investments exceeding PKR 7 billion, demonstrating its significant impact.

Ignite National Technology fund supports startups and innovative projects that utilize the 4th industrial wave technology to solve local problems and target global opportunities in AI & Big Data, Cloud infrastructure, Cybersecurity, AR & VR, Robotics, NeuroTech, and other verticals.

LMKR is a technology company with an extensive solutions portfolio that includes reservoir-centric interpretation, smart urbanization, agri-tech, big data services, AI-driven technology solutions, and consulting.