Latest news with #NICKarachi
Business Recorder
26-05-2025
- Business
- Business Recorder
Startups can get up to Rs5m with new acceleration program: NIC Karachi
National Incubation Centre (NIC) Karachi has launched its 'first-ever structured acceleration program' in partnership with Orbit Startups, a Singapore-based investor in emerging markets. According to a press release, through this three-month accelerator, 10 high-potential startups will receive up to Rs5 million in milestone-based grants and training by global experts from Orbit Startups. 'With a young, digital-first population, Pakistan is going through a technology-driven economic transformation,' said William Bao Bean, Managing General Partner of Orbit Startups, which has backed over 300 startups. Govt's Pakistan Startup Fund will help entrepreneurs raise up to $1m, says official 'We're excited to team up with NIC Karachi to bring Orbit's global ecosystem and hands-on support to this next generation of founders who can lead in Pakistan and win globally,' he said, adding that 'we believe Pakistan is one of the most overlooked startup markets in the world, and that's about to change.' The program signals NIC's 'evolution from a startup launchpad to a growth-stage acceleration powerhouse, fully aligned with national economic priorities and global innovation trends,' the release said. 10th iteration of Pakistan Investor Summit kicks off in Karachi The goal of the program is to fast-track companies that are ready to scale, raise capital and create market impact, locally and globally, explained Ali Sohail Tabba, Chairperson Governance Committee NIC Karachi and Director at Yunus Brothers Group. He said the program targets startups that are already showing traction, with revenue models in place and a product in the market. Startups belonging to sectors like fintech, cyber security, industrial automation, agritech, climate tech and logistics are encouraged to apply. Startups will be monitored through a milestone-based evaluation framework developed. All grant disbursements are tied to verified deliverables across business, product and investor readiness metrics. Earlier this month, NIC Karachi hosted the Pakistan Investor Summit 2025 – Summer Edition, where it announced the Pakistan Startup Fund and an initaitive called BridgeStart, aiming at giving startups international exposure. According to a press release, both initiatives 'marks a pivotal step in institutionalizing startup investment infrastructure in the country.'
Express Tribune
14-05-2025
- Business
- Express Tribune
Experts propose robust startup-investor linkages
Listen to article Investors and tech experts have stressed the need for developing a stronger startup-investor bridge so that newcomers in the field of technology may leverage and boost the national economy. They said this on the second day of a five-day moot titled "Pakistan Investor Summit 25, Summer Edition", being held at the National Incubation Centre (NIC), Karachi from May 12 to 16. It has been organised by the NIC Karachi, funded by Ignite under the Ministry of IT and Telecommunication and operated by LMKT in partnership with Lucky Landmark (YB Group) and Orbit Startups. YB Holdings Chief Operating Officer Muhammad Humair shared his perspective on the future of smart capital, saying "smart capital today is about more than money, it's about insight, timing and value creation. Investors who understand the founder's journey are the ones who drive sustainable returns." Alpha Beta Core CEO Farhan Bashir Khan emphasised the importance of understanding the risk appetite and said investment decisions must reflect both opportunity and investor temperament. Strong returns come when strategy is grounded in real-time risk modeling and sector fluency. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Senior Vice President Saquib Fayyaz Magoon highlighted the critical role of platforms like the NIC Karachi in national economic development. He said, "NIC Karachi is where innovation meets execution. As the SVP of FPCCI, I invite our entire member base to visit the NIC Karachi; our industries must open doors to these brilliant startups to build a stronger, more interconnected Pakistan." NIC Karachi Project Director Syed Azfar Hussain said, "This summit is a movement. The quality of insights, the openness of discussion and the drive to build a stronger startup-investor bridge have been truly inspiring. We're proud to host such impactful conversations at the NIC Karachi, where Pakistan's innovative future is being shaped every day."
Business Recorder
12-05-2025
- Business
- Business Recorder
10th iteration of Pakistan Investor Summit kicks off in Karachi
National Incubation Center (NIC) Karachi's 'Pakistan Investor Summit 2025 – Summer Edition' kicked off on Monday. It is set to feature some 20 high-growth startups, and bring together more than 100 investors, startups, policy makers, and industry professionals, it said in a statement. The idea is to create space for 'strategic partnerships and transformative funding opportunities', it added. According to a post on LinkedIn, the judges of Day 1's Pitch Fest will be 'none other than the NIC Karachi alumni who've walked the founder journey themselves.' This includes Muhammad Ghayas Ahmedani, CEO of Zaaviaa Solutions, Anusha Shahid, Co-Founder of Muhammad Furqan Karim Kidwai, Director of ASF Tech Partners, Aurangzaib Alamgir, Founder of Porter Pakistan, Sidra Shakeel, Co-Founder of Fortify and Mirza Saad Baig, Founder of Rawts. 'These exceptional individuals have built impactful ventures, raised capital and navigated the startup grind and now, they are back to guide the next generation of founders,' NIC Karachi said in its post. It also said that a high-impact roundtable will feature investors, founders and finance experts exploring early-stage investing, portfolio planning, and risk management. The workshop will feature insights from the, COO of YB Holdings on how smart capital is reshaping investment returns and Farhan Bashir Khan, CEO of Alpha Beta Core on understanding investor risk appetite and return expectations. The event is Funded by the Ignite National Technology Fund under the *Ministry of Information Technology and Telecommunication. According to its statement, over the past six years, NIC Karachi has incubated 376 startups across fintech, edtech, healthtech, agritech, and industrial tech. These ventures have raised Rs12 billion in investment, generated RsPKR 10 billion in revenue, and created over 1 million jobs, it said. Syed Azfar Hussain, Project Director of NIC Karachi, said: 'This summit reflects our belief that local innovation deserves global capital. We are building bridges between visionary founders and the investors who can help accelerate their journey.' Summit highlights include:
Express Tribune
21-03-2025
- Business
- Express Tribune
Startups explore cybersecurity at NIC
Listen to article IT experts, on Friday, emphasised that cybersecurity plays a vital role in safeguarding business websites and combating the rising threats of malware, ransomware, and virus attacks. Pakistan's largest startup induction concluded on its 10th day on Friday at the National Incubation Centre (NIC) Karachi at NED University of Engineering and Technology (NEDUET), where more than 125 startups competed for spots in NIC Karachi's 13th Cohort. Tech veteran and NIC Karachi Project Director Syed Azfar Hussain stated that NIC Karachi's 13th Cohort will include around 40 startups, selected from over 600 applications across diverse sectors like cybersecurity, AI, fintech, industrial automation, blockchain, e-commerce, and sustainability. Throughout the induction process, over 100 startups pitched their ideas, showcasing Pakistan's growing startup ecosystem and its potential to drive technological and economic transformation. The participation of early-stage entrepreneurs and industry experts reflects the increasing momentum of innovation-led growth in Pakistan. He said, "The NIC Karachi 13th Cohort Induction is a significant milestone for Pakistan's startup ecosystem. This year, we are witnessing a wave of innovative ventures tackling real-world challenges with technology-driven solutions. The event highlights the growing need to empower startups by providing them with the right resources, mentorship, and industry connections to thrive in an increasingly digital economy. The presence of investors, corporate leaders, and government stakeholders reinforces the importance of collaboration in fostering innovation. Events like these not only showcase Pakistan's entrepreneurial potential but also pave the way for a stronger, tech-driven future." Tech expert and LMKT Vice President Asim Ishaq Khan stated, "Cybersecurity is no longer a luxuryit is a critical necessity for businesses and individuals in today's digital landscape. Startups have immense potential to drive innovation in key areas such as cloud security, identity and access management (IAM), blockchain for secure transactions, Internet of Things (IoT) security, and advanced phishing detection. At NIC Karachi, we actively support cybersecurity ventures developing cutting-edge solutions to protect digital ecosystems and stay ahead of emerging threats." Regarding the cybersecurity startups that pitched at the event, Muhammad Ali, founder of 'Agentic Enabled VAPT', is addressing the high costs, inefficiencies, and human errors in manual cybersecurity compliance. His AI-powered solution automates vulnerability detection, prioritises threats in real time, and provides continuous security monitoring with actionable insights, reducing audit costs, saving time, and enhancing accuracy. Financial fraud is rising, causing losses and trust issues. Traditional fraud detection systems struggle with complex fraud patterns, slow response times, and high false-positive rates. Another startup, 'FraudShield', founded by Abdul Basit, uses AI-driven real-time fraud detection, adaptive risk assessment, and automated anomaly detection to prevent unauthorised transactions efficiently. Additionally, an interesting concept of a digital twin was showcased by 'Shadow You: A Digital Twin Solution', founded by Asad Askari. Professionals struggle with time management, excessive meetings, and a lack of AI-driven automation, leading to inefficiency. 'Shadow You' is an AI-powered digital twin that records and summarises meetings, automates tasks, and optimises schedulesseamlessly managing work and life for enhanced productivity. Speaking to The Express Tribune, eminent SEO expert and IT coach Mehboob Shar, Founder and CEO of iCreativez Technologies, stated that in today's digital economy, data security is more valuable than currency. A bank's or company's reliability depends on how well it protects client data. Cybersecurity is no longer optionalit's essential. He said, "With the rising demand for online data protection, iCreativez Technologies has launched a dedicated cybersecurity department. Our mission is to safeguard businesses with cutting-edge security solutions, ensuring their data remains secure from ever-evolving threats. Trust isn't given; it's earned through relentless protection. At iCreativez, we make cybersecurity our priority so businesses can thrive with confidence." Dr Adnan Ahmed Arain, Head of the Cyber Security Department at Quaid-e-Awam University of Engineering, Science and Technology, Nawabshah, stated, "Cybersecurity is crucial for protecting business websites from rising threats like ransomware. Ransomware, including Locker and Crypto variants, forces victims to pay to regain access to systems or data. According to Kaspersky, ransomware attacks rose by 30% globally from 2022 to 2023. In Pakistan, a major 2024 data breach exposed millions of citizens' sensitive information, such as CNIC and contact details, on the dark web. Earlier, K-Electric was targeted by Netwalker ransomware, and Medusa attacked the Institute of Space Technology." He stated that IT professionals can counter these threats by implementing multi-factor authentication, the principle of least privilege, HTTPS with SSL/TLS for secure data transmission, and robust antivirus/anti-malware tools. Regular software updates and patching help eliminate vulnerabilities. Defending against social engineering and phishing through staff training enhances overall security awareness. By adopting these proactive measures, IT teams can protect websites, ensure business continuity, and prevent severe damage.
