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IT Minister inaugurates National Incubation Center in Hyderabad

Syed Amin-Ul-Haque, the Federal Minister for IT and Telecom, launched the 6th National Incubation Center (NIC) in Hyderabad on Monday. The Ministry established this facility for Information Technology and Telecom (MOITT) and the Ignite National Technology Fund.

The National Incubation Center (NIC) in Hyderabad will assist the city in realizing its full potential as an entrepreneurial hub by providing a space for young people to develop their business proposals. Ignite has been responsible for establishing over a thousand businesses, producing over 115,000 jobs, and acquiring over $73 million in funding.

According to Federal Minister for IT & Telecom Syed Amin-Ul-Haque, who spoke at the event, ignite has established National Incubation Centers (NICs) in various cities to accelerate digitization and transformation of Pakistan into a knowledge-based economy to spur economic growth through innovation and entrepreneurship.

One of the primary objectives of the NIC program is to assist aspiring business owners in getting their companies off the ground by providing them with the tools they need to transform their innovative idea into a commercially viable operation.

He claims that the Ministry of Information Technology is using Ignite to create incubation centers in Islamabad, Karachi, Quetta, Lahore, and Peshawar. The ceremony in Hyderabad today to inaugurate the nation’s sixth National Incubation Center can be useful to various industries and enterprises, including agriculture, livestock, decorative, industrial items, textiles, sugar, cement, and so on. There is space for improvement in the productivity of several industries.

During the event, the Chief Executive Officer of Ignite, Asim Shahryar Husain, delivered the following remarks: “Ignite is dedicated to capacity development of the startup ecosystem of Pakistan, and our target is to produce unicorns from Pakistan by around 2025.”

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