- IT minister says national incubation centres are helping entrepreneurs build on their ideas
Federal Minister for IT and Telecommunication Syed Amin-ul-Haque said on Monday that Pakistan would surpass the $3 billion IT exports target this year due to measures taken by his ministry to boost the industry's growth, APP reported.
The minister made the remarks while addressing a ceremony at the Lahore University of Management Sciences (LUMS).
He said the country’s IT exports had crossed $2.1 billion due to the congenial investment atmosphere provided in Pakistan.
The minister noted that the investments of Pakistani start-ups grew by almost five times as compared to 2020 and that the IT ministry had been providing local and global networking platforms to the start-ups through Ignite, the national technology fund.
He said the initiative had been helping the start-ups pitch their ideas and products to their potential customers and investors.
Haque advocated for the role of technology in the government’s mission to grow the entrepreneurial ecosystem of Pakistan.
He further said that National Incubation Centers (NIC) in Islamabad, Lahore, Peshawar, Karachi, and Quetta were facilitating students, who want to build on ideas that promote and encourage investment infrastructure in Pakistan.
“The newly established incubation centers of Hyderabad and Faisalabad would help us expand and tap into the potential of Sindh and Punjab, we wish to provide the youth with a forum to bring your ideas into reality” he added.
LUMS, Vice-Chancellor, Dr. Arshad Ahmad, Ignite CEO, Asim Shahryar Husain, NITB Executive Director and Board of Ignite Chairman, Syed Husnain Abbas Kazmi other officials were present at the occasion.
Other speakers also encouraged the entrepreneurs to continue on the path of innovation and assured their full support.
Earlier, during the prize distribution ceremony, a cash prize was awarded to three promising startups.
The first prize was given to QBio, a life sciences venture to establish Pakistan’s leading enzyme biotechnology company. The second prize went to Dawa Asaan, Pakistan’s smart pharmacy providing pre-sorted and pre-packed medicines for chronic illness patients on a monthly subscription.
The third prize went to Peervest Global, a digital equity-based crowdfunding platform that connects tech-enabled start-ups with eligible investors to provide funding and networking opportunities.