IT Ministry set to expand National Incubation Centres in the country

In recent news, the Ministry of Information Technology has planned a third-party evaluation and impact assessment of the National incubation Centers throughout the country. The main aim of this evaluation is to overall see the progress of the centers and further devise key strategies and models for the future expansion of such centers.

The sole purpose of these incubation centers was to accelerate the digital transformation of Pakistan into a country whose growth would be based on innovation and entrepreneurship hence the ministry has established five NICs throughout the provincial and federal capital.

As of now, around 380 startups have graduated from these startups and have received funding of around $56 million. In addition, these startups have generated around $24.87 million. As a result, these incubation centers have become a very attractive spot for national and international investors to get a hold of the next big thing.

Moreover, the ministry is in the process of hiring a consultant for the evaluation and the overall impact assessment which would enable the ministry to understand the key problems and limitations and formulate corrective actions.