Pakistani startups will now get trained in Silicon Valley
The NUST Global Acceleration Program (GAP) – is a pioneering acceleration program. Sponsored by the US Department of State it aims to boost post-revenue Pakistani startups and provides them a global launchpad.
The local technology entrepreneurial ecosystem is in its nascent stage and thus pose a challenge for Pakistani startups to make it big on an international platform. Domestic demand for high-tech solutions remains low due to the developing nature of the economy and therefore consumers resist adopting technology products. Therefore, startups find it hard to grow as they have limited access to bigger markets and fail to attract consumers. The local entrepreneurial ecosystem is still developing therefore there is a lack of venture capitalists, field experts, and mentors. Therefore, NUST’s Global Acceleration program will not only benefit the participating startups but also project Pakistan in an international market.
NUST Global Acceleration Program is currently expecting applications. The startups will get three months of training in Silicon Valey. The Global Acceleration Program will select 12 post-revenue startups, provide them an office space at the varsity’s Technology Incubation Centre for 12 months, and accelerate them in Silicon Valley for three months. The startups will be connected with relevant mentors and domain experts, investors, and international clients. The objective will be to present Pakistan’s finest startups in the high tech clusters of Silicon Valley, validating their products in the US market and eventually seeking funding. Eligible startups will have to transfer five percent of their equity to NUST,
Applicants are required to submit their entry here by April 20th, 2018. The qualified applicants will comprise the first batch of the Silicon Valley program that is scheduled to begin on July 1st, 2018.