Latest news with #OrbitStartups
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.
