Cultural Shift To Transform Pakistan Into A Startup Economy: Federal Minister

Federal Minister for IT and Telecommunication, Syed Amin Ul Haque said the cultural shift to transform Pakistan into a startup economy cannot be achieved without the enthusiasm and drive of our youth

KARACHI, (UrduPoint / Pakistan Point News - 24th Aug, 2020 ):Federal Minister for IT and Telecommunication, Syed Amin Ul Haque said the cultural shift to transform Pakistan into a startup economy cannot be achieved without the enthusiasm and drive of our youth.

He said this while speaking on the occasion of graduation ceremony held here at NED University Campus on Monday.

Appreciating NIC and its role, Syed Amin ul Haque said the National Incubation Center (NIC) was playing the vital role for prompting entrepreneurship in the country. The more branches of NIC should be opened in the other cities like Hyderabad in the country.

He vowed IT Ministry fully backs young entrepreneurs who have the innovative ideas to unlock the economic potential of Pakistan.

The participation of women in NIC should be encouraged as their participation was less than men, he said adding apart from the challenges, the COVID-19 brought some opportunities for the IT sector which helped to increase the IT exports, the minister further said.

CEO Ignite, Syed Junaid Imam said realizing the need for a robust innovation ecosystem in Pakistan, we are engaging with all key stakeholders through a multitude of interventions for building a robust innovation ecosystem for startups and entrepreneurship.

He said startups are the epicenter of innovation and are fueling the growth of economies worldwide by creating new jobs, financial inclusion, reducing the income divide, contributing to the GDP and raising the standard of living.

Along with a congratulatory note CEO LMKT, Atif Rais Khan mentioned the achievements of the previous batch of graduating NIC Karachi startups and encouraged the current outgoing batch to aim for similar heights.

NIC Karachi is an Ignite � National Technology Fund funded project that is managed and operated by LMKT in collaboration with PTCL, HBL, PPAF and NED University. The aim of the project is to facilitate and train aspiring entrepreneurs and startups from across Sindh through various program offerings and events, he said.

Shahjahan Chaudhary, Project Director, NIC Karachi emphasized the importance of collaboration between stakeholders to enable more young entrepreneurs to take on the startup journey. Senior officials of IT Ministry and Ignite also attended the graduation ceremony.

On this occasion Syed Junaid Imam Member IT, Ministry of IT & Telelcom and Dr. Muhammad Tufail Pro VC NED University signed a MoU under which MOITT can engage requisite resources of NED University (both teachers and students) on different policy initiatives, research studies, industry analysis and group discussions.

While, NED University will be provided with an opportunity for students and researchers to work on real time industry scenarios/ challenges / case studies.