PITB unveils national expansion plan for entrepreneurial ecosystem

LAHORE: Punjab Information Technology Board (PITB) Chairman Faisal Yousaf has said that the objective of National Expansion Plan, which was launched under the National Incubation Centers (NICs) programme, was to democratise entrepreneurship, boost business activity across the country, grow the IT industry and promote economic growth in Pakistan.

He expressed these views while addressing a meeting held here on Thursday to review the National Expansion Plan. He further said the incubation programme is tailored to the needs of early-stage start-ups and runs on a zero-equity model. He averred that a total of 261 startups have graduated under the National Expansion Plan, a collaborative effort of the Punjab Information Technology Board (PITB) and Ministry of Information Technology and Telecommunication (MoITT), from January 2023 to December 2023.

On this occasion, the participants of the meeting were apprised that 87 startups of the NEP initiative graduated from Punjab, 64 from Sindh, 20 from Azad Jammu and Kashmir, 39 from Khyber Pakhtunkhwa, 31 from Balochistan and 20 from Gilgit Baltistan.

In partnership with public universities, 13 tech incubation centres have been set up across the country where startups are provided with free-of-cost workspace, mentorship, networking opportunities, monthly stipend, business support and legal guidance for six months.

Copyright Business Recorder, 2024