The applications for the 5th batch for the business incubator and accelerator program of LUMS Center for Entrepreneurship are now live!
The Foundation is LCE’s business incubator and accelerator program, where startups are incubated for a 4-month long period. The startups are selected by the Foundation Council, a council of successful entrepreneurs and leading businesspersons and professionals of Pakistan.
The Foundation offers 4 months of co-working office facility at LUMS, access to all the labs and IT infrastructure of the university, regular mentoring, access to investors at the Startup Summit and sustenance stipend for up to 4 co-founders. In exchange, LCE takes equity in the startup, ranging from 2.5% to 7.5%.
How To Apply?
You can apply for The Foundation program by visiting the following link. Your startup/idea must be either a high-growth commercial business or a high-impact, sustainable social venture in any domain, field or industry.
Currently, the program gives you three options:
- 2.5% Equity: Non-resident Acceleration.
- 5% Equity: Incubation without stipend.
- 7.5% Equity: Incubation with stipend.
The Foundation program is responsible for churning out a number of innovative and successful startups over the years, including AutoGenie, HealthWire and Interacta, while another promising startup, Mezaaj, is in their current batch of incubations.