Ignite Inks Agreement with Pakistan Services Limited – Hashoo Group to Manage National Incubation Center Islamabad

In a landmark move poised to energize Pakistan’s burgeoning technology and startup landscape, the Ignite National Technology Fund—an entity under the Ministry of Information Technology and Telecommunication—has forged a pivotal agreement with Pakistan Services Limited (PSL), part of the Hashoo Group consortium. This consortium also includes prominent entities like Fauji Foundation, Telenor Pakistan, Change Mechanics, CyberVision International, and Founder Institute. Together, they will oversee the National Incubation Center (NIC) Islamabad for the ensuing five years.

This collaboration marks a significant stride in public-private partnership efforts aimed at invigorating the startup ecosystem in Pakistan. It particularly emphasizes nurturing tech startups, with the goal of boosting the nation’s economic GDP and creating substantial employment opportunities for the youth.

Impactful Ventures: Ignite’s Nationwide Network

Adeel Aijaz Shaikh, CEO of Ignite, highlighted the profound impact of the organization’s National Incubation Centers across the country in his welcome address. To date, these centers have incubated over 1,480 startups, generating over 188,000 direct and indirect jobs. These startups have attracted investments worth Rs. 23 billion and have produced revenues amounting to Rs. 16 billion. Specifically, NIC Islamabad has been a success story, incubating 295 startups—including 136 female-led firms—creating 23,597 jobs, and generating revenue of Rs. 7.05 billion with an investment of Rs. 7.88 billion.

Enhanced Services and Strategic Focus

The NIC Islamabad is set to build on its predecessor’s achievements by offering an expanded suite of services to empower startups. These include advanced workspaces, venture capital access, industry leader mentorship, and labs for UI/UX design and makerspaces, focusing on key technological sectors like Artificial Intelligence, IoT, Robotics, Health, and AR/VR. A significant emphasis is on creating investment avenues for startups, supported by leading incubators, accelerators, and venture capitalists including Founder Institute, Mass Challenge, and others. Health-tech startups receive particular attention, with Aga Khan University and Hospital among the core Health Track Partners.

Academic Collaboration for Sustained Growth

Supporting partners extend to prestigious academic institutions, ensuring startups benefit from quality mentorship and access to university labs and specialist faculty. Notable institutions include GIKI University, Institute of Space Technologies, and NUST Business School, underscoring the commitment to technical excellence and innovation.

About Hashoo Group:

Hashoo Group stands as Pakistan’s premier conglomerate with a diverse portfolio that spans across national and international spheres. With ownership of Pearl-Continental Hotels & Resorts, PC Legacy, and several other ventures in IT, education, investment, and real estate, Hashoo Group demonstrates its corporate prowess while contributing to societal growth through the Hashoo Foundation. This initiative underscores Hashoo Group’s dedication to social responsibility and sustainable development, reinforcing its position as a leader in Pakistan’s corporate landscape.

About Fauji Foundation:

Fauji Foundation operates as a hybrid social enterprise, seamlessly integrating its corporate goals with the broader aim of national progress. The organization makes strategic investments in crucial areas to drive the nation’s economic growth, focusing on enhancing infrastructure, securing energy resources, ensuring food security, promoting advanced agricultural techniques, and broadening access to financial services.

About Ignite:

Ignite National Technology Fund, is a government-backed initiative designed to stimulate innovation and technological progress in Pakistan through funding, mentorship, and comprehensive support for startups, entrepreneurs and innovators.

About MOITT:

The Ministry of Information Technology and Telecom (MOITT) is tasked with developing policies and initiatives to foster information technology and telecommunications infrastructure across Pakistan, driving the nation’s digital transformation.

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