Latest news with #NationalIncubationCentre
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.'
Business Recorder
26-05-2025
- Business
- Business Recorder
Startups can get up to $5m with new acceleration program: NIC Karachi
National Incubation Centre (NIC) Karachi on Thursday launched its 'first-ever structured acceleration program' in partnership with Orbit Startups, a Taiwan-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. '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. 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.
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.
Express Tribune
19-03-2025
- Business
- Express Tribune
Startup induction nears grand finale
These National Incubation Centres provide crucial resources such as mentorship, technical support, and funding opportunities, helping early-stage tech businesses overcome initial challenges and scale effectively, says IT Expert and CEO of SI Global Solutions, Dr Noman Said. Photo: afp Listen to article To promote the future of entrepreneurship, witness an extraordinary showcase of the country's brightest startups, and redefine innovation potential, Pakistan's largest startup induction is nearing its grand finale at the National Incubation Centre (NIC) Karachi at NED University of Engineering and Technology (NEDUET), where more than 125 startups are competing for spots in NIC Karachi's 13th Cohort. The 10-day cardinal event entered its eighth straight day on Wednesday and will continue until Friday (March 21), featuring groundbreaking ideas that have taken the stage and lifted the spirits of astute investors and shrewd tech mavens. Approximately 125-150 startups have been pitching, and around 35-40 startups will be selected by a panel of expert judges, facilitated by enthusiastic investors and experienced tech professionals. Startups are given a five-minute pitch, followed by a five-minute question-and-answer session. A defining moment for Pakistan's startup ecosystem is unfolding. With over 60 independent industry leaders as judges and investors, corporate partners, and tech pioneers closely observing, the event is proving to be a game-changer for Pakistan's entrepreneurial landscape. It is driving investment, collaboration, and industry transformation like never before. NIC Karachi's 13th Cohort will serve as a powerhouse of innovation, bringing together the strongest founders and boldest ideas, shaping the future of Pakistan's startup ecosystem. The eighth day of the event focused on industrial automation, focusing on the engineering of the future. Startups developing next-generation manufacturing, robotics, and smart infrastructure showcased their solutions, addressing Pakistan's industrial transformation needs. More than 17 startups from the industrial automation sector presented their innovative ideas at NIC Karachi, where they were evaluated by industry experts, including Khalid Pervez of KPWS Consulting, Nida Farid of Save Joules, Saadia Kazmi of Watsun Engineering and Solutions, and Iftikhar Arif of M&P [Muller & Phipps] Logistics. The evaluators praised the ingenuity of these tech entrepreneurs, who are developing cost-effective solutions to replace expensive imports. They emphasised that with rigorous mentoring and capacity-building at NIC Karachi, these startups have the potential to scale globally, export their solutions, and contribute to Pakistan's economic stability by bringing in foreign exchange. Among the standout ventures, 'RILITS' is pioneering advancements in industrial automation, while 'Electric Ark' is designing electric-powered boats to revolutionise Pakistan's maritime sector. 'Sortech Incorporation' is addressing fire hazards through cutting-edge imaging technology, enhancing safety measures. Moreover, ' has launched a dedicated marketplace for the manufacturing industry in Pakistan, streamlining procurement and supply chain processes. With such promising startups emerging, NIC Karachi continues to play a crucial role in fostering Pakistan's tech-driven industrial growth. Industry veteran and energy expert Abdul Sattar Jumani, who is also CEO of Yunus Energy and a Governance Committee member of NIC Karachi, called the 600 applications a positive sign for Pakistan's entrepreneurial ecosystem. He lauded all the founders who applied for incubation, stating that visionary entrepreneurs like them have the potential to transform Pakistan's future. Speaking about the current cohort of startups, he said, "We have high hopes for these young businesses. Pakistan witnessed a significant entrepreneurial boom in the 1960s, and we expect that public-private partnership projects like NIC Karachi have the potential to deliver impactful entrepreneurial ventures. These ventures can help transform Pakistan from a developing nation into a tech-driven, developed country." Tech veteran and NIC Karachi Project Director Syed Azfar Hussain said, "Meet Pakistan's most innovative founders! This induction is a showcase of Pakistan's brightest entrepreneurial talent, featuring visionary founders solving critical challenges through cutting-edge technology and disruptive business models. The last two days will determine which startups make it to the final selection, solidifying NIC Karachi's reputation as the breeding ground for Pakistan's next wave of tech leaders." So far, the event has witnessed exceptional entrepreneurial energy, with strong founders presenting transformative ideas across multiple industries. Women-led startups were given dedicated pitching opportunities from Monday to Tuesday. Over 100 startups have already presented, showcasing unique and innovative solutions in artificial intelligence (AI), healthcare, e-commerce, sustainability, and industrial automation. As the induction heads into its final two days, the focus shifts to high-impact innovation in fintech and cybersecurity, with more than 30 game-changing pitches still to come. The momentum continues to build as Pakistan's most innovative startups step into the spotlight. Today (Thursday), the focus will be on fintech, highlighting the digital banking revolution. Fintech startups will introduce disruptive innovations in digital payments, blockchain, financial inclusion, and AI-driven banking solutions. Tomorrow (Friday), cybersecurity will take centre stage, tackling the rising digital threats. Cybersecurity startups will present cutting-edge defense mechanisms, secure digital infrastructure, and AI-powered risk mitigation strategies.
