Karachi, Pakistan – February 20, 2024 – NIC Karachi, Pakistan’s largest tech incubator, funded by Ignite, a project of Ministry of Information Technology and Telecommunication, operated by LMKT, celebrated a significant milestone as it marked six years of fostering innovation and entrepreneurship in the country. The highlight of the celebration was the graduation of 50 startups from Cohort 10 and 11, showcasing the success and growth of Pakistan’s vibrant startup ecosystem.
Since its inception, NIC Karachi has been at the forefront of empowering innovative entrepreneurs through mentorship, training, and access to funding. With an impressive track record of incubating 299 startups in 6 years, over 1 million jobs created, and raising PKR 8.1 billion in investments, NIC Karachi has played a pivotal role in shaping Pakistan’s entrepreneurial landscape.
Bilal Abbasi, General Manager of Ignite – National Technology Fund, highlighted the significance of NIC Karachi’s contribution to Pakistan’s entrepreneurial ecosystem, stating, “NIC Karachi has been instrumental in establishing the incubation footprint in Pakistan. With eight National Incubation Centers nationwide, these centers have been pivotal in generating revenue, employment opportunities, and raising investments, contributing significantly to Pakistan’s economic growth.”
During the celebration, Ahmad Junaid, Program Manager at NIC Karachi, presented forecasts and shared statistics, showcasing the center’s impressive growth trajectory. “Over the last six years, NIC Karachi has emerged as the country’s largest tech incubator and startup accelerator,” Ahmad stated. “We have incubated 299 startups, generating over 1 million employment opportunities and raising PKR 8.1 billion in investments.”
Atif R. Khan, CEO of LMKT, emphasized NIC Karachi’s commitment to nurturing the startup ecosystem, stating, “LMKT operates NIC Karachi, NIC Peshawar, and NIC Hyderabad, and we are proud to see NIC Karachi become the largest tech incubator in Pakistan. We remain dedicated to supporting Pakistani startups, catalyzing innovation, and contributing to the overall economic prosperity of the country.”
The ceremony was attended by distinguished guests, including government officials, industry experts, and representatives from international organizations, all eager to learn more about NIC Karachi’s impact on Pakistan’s economy and innovation ecosystem.
In his closing remarks, Atif R. Khan expressed optimism for the future of the tech incubation space in Pakistan, stating, “We foresee a bright future ahead and hope to see NIC Karachi continue its operations for the next five years and beyond.”
The celebration concluded with a networking session, providing graduating startups with the opportunity to engage with mentors, ecosystem partners, and industry leaders, further cementing NIC Karachi’s role as a hub for innovation and entrepreneurship in Pakistan.
In summary, NIC Karachi’s six-year celebration and graduation ceremony mark a significant milestone in Pakistan’s entrepreneurship journey. As NIC Karachi continues its mission of fostering innovation and driving entrepreneurial growth, it reaffirms its commitment to shaping the future of Pakistan’s startup ecosystem.
About NIC Karachi:
NIC Karachi, operated by LMKT and funded by Ignite, is Pakistan’s largest tech incubator, empowering innovative entrepreneurs through mentorship, training, and access to funding. As the biggest of eight National Incubation Centers (NICs) in the country, NIC Karachi has incubated 299 startups, generated over 1 million employment opportunities, and raised PKR 8.1 billion in investments.