Ignite signs agreement with Netsol Technologies-led consortium to operate NIC Lahore

LAHORE: In a major boost for Pakistan’s burgeoning technology and startup ecosystem, Ignite - National Technology Fund, a company incorporated under the Ministry of IT & Telecom, has signed an agreement with a consortium led by Netsol Technologies Limited to establish and operate the National Incubation Centre (NIC) Lahore for the next five years.

This consortium includes prominent partners like HBL, Beaconhouse National University, PlugNPlay Tech Centre, Daftarkhwan, Accelerate Prosperity, UET Lahore, and WCCI Lahore. The consortium aims to empower startups focused on AI, IoT, Cleantech, climate tech, and ICT, serving as gateways to sustainable development, global impact, and inclusive growth.

The NIC Lahore will be relocated to Daftarkhwan Vogue on MM Alam Road in the heart of Lahore. It will host 50 startups annually in its incubation program and 10 startups annually in its acceleration program, with each startup receiving Rs 5 million in funding in the acceleration program from the Ignite National Technology Fund.

Adeel Aijaz Shaikh, CEO Ignite stated, “We are thrilled to back the National Incubation Centre Lahore as it enters an exciting new stage of growth and innovation. Our dedication to nurturing a vibrant startup ecosystem in Pakistan is demonstrated through our continuous support for incubation programs nationwide.”

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