Jazz, the leading digital operator in Pakistan, has partnered with Ignite, the Ministry of Information Technology and Telecommunication, and Teamup to announce the successful incubation of 295 startups at the National Incubation Center (NIC) in Islamabad. Notably, 24% of these startups were founded by talented female entrepreneurs, highlighting their significant contribution to the startup ecosystem.
Established in 2016, NIC has become a thriving innovation hub, attracting substantial investment and driving socioeconomic impact in Pakistan. It has created over 20,000 jobs, generated more than Rs 6.5 billion in sales revenues, and attracted over Rs 7 billion in investment for incubated startups. The NIC has played a crucial role in accelerating operations and fostering entrepreneurial growth.
During the graduation ceremony for NIC’s 10th, 11th, and 12th cohorts, Ahsan Iqbal, Minister of Planning, Development, and Special Initiatives, emphasized the importance of supporting innovation and building the creative skills of the future.
The government has introduced Rs 80 billion worth of new initiatives for Pakistani youth, including a Rs 5 billion venture capital fund, intending to position Pakistan as a global innovation hub.
Bilal Abbasi, General Manager of Ignite, commended the collaborative efforts of the IT ministry, Jazz, Ignite, and Teamup in creating an ecosystem that fosters innovation, collaboration, and growth.
NIC Islamabad is also home to Jazz xlr8, Pakistan’s premier accelerator program, which assists enrolled startups in scaling and growing. Through Jazz xlr8, 31 startups have been incubated, and 11 startups have showcased their ideas and products at the 4YFN Mobile World Congress in Barcelona.
The collaboration between Jazz and NIC continues to pave the way for advancements in the entrepreneurial landscape, empowering aspiring entrepreneurs to realize their potential and contribute to Pakistan’s digital future.