PESHAWAR, Pakistan: The National Incubation Center (NIC) Peshawar hosted the 2nd Graduation Ceremony on Monday to celebrate the achievements of its third and fourth cohort startups.
The Federal Minister for Information Technology and Telecommunication Syed Amin-ul-Haque was the Chief Guest at the Ceremony.
Syed Amin-ul-Haque was accompanied by the political leadership from Khyber Pakhtunkhwa, the CEO Ignite, the LMKT team, and other dignitaries.
The NIC Peshawar is an initiative of the Ministry of IT and Telecommunication funded by Ignite and operated by the LMKT in collaboration with the PTCL.
Since its inception, the NIC Peshawar has played a monumental role in the development of the entrepreneurial ecosystem in Khyber Pakhtunkhwa. It has not only contributed towards the growth of local startups but has also helped in uplifting the regional economy.
The startups that are graduating out of the third and fourth cohorts have built innovative and disruptive solutions for a diverse set of industries including education, health, e-commerce, lifestyle, transport, gaming, and delivery services.
In a limited span of two years, these startups have created an unprecedented social impact by generating more than 1,419 direct and 1,295 indirect employment opportunities, raising more than Rs 504 million in investments and registering a revenue growth of Rs 212 million.
While addressing the ceremony, Syed Amin-ul-Haque said “The startups graduating today out of NIC Peshawar have delivered on the benchmarks set by their predecessors. The youth of Khyber Pakhtunkhwa has always exhibited passion, motivation, and steadfastness in all fields of life and they will continue to do so in the years to come. It gives me immense pleasure to witness and experience the innovative products and solutions developed by these startups to create a wave of disruption in the most conventional industries.”
“I’m happy that five graduating startups are led by Female Founders which shows a 33% engagement rate for women entrepreneurs from the Khyber Pakhtunkhwa,” the minister said.
“Khyber Pakhtunkhwa is on the cusp of establishing itself as the hub of innovation and technology and play an integral role in actualizing the dream of a Digital Pakistan.”
While commenting, the Khyber Pakhtunkhwa Chief Minister’s Special Assistant on Science & Information Technology Zia Ullah Bangash said that the NIC Peshawar is at the forefront of this mission and is facilitating the growth of the startup ecosystem in the province.
While expressing his views, the CEO Ignite said that the success of NIC Peshawar is the result of the dedication and hard work put up by the Ignite and NIC Peshawar team, founders, and their mentors.
“We look forward to more innovative ideas from Khyber Pakhtunkhwa that are especially lead by women entrepreneurs,” the CEO Ignite said.
The CEO LMKT Atif Raes Khan congratulated all the graduating startups and said “The accomplishments of the graduating startups and the efforts put up by NIC Peshawar have proved once again that a developing economy like Pakistan needs to invest in Human Capital for development and success in the long run”.
The Director NIC Peshawar Asim Ishaq Khan thanked all the esteemed guests for attending the ceremony and encouraging the graduating startups.
“The progress made by these innovators in such a short span of time is phenomenal. All the startups have displayed tremendous perseverance and consistency to overcome market challenges and take their products and solutions forward. The NIC Peshawar is proud to have been an advocate for the entrepreneurial ecosystem and a nurturing partner for the startups,” Asim Ishaq said.
The NIC Peshawar is steadily working on its mission of Igniting the Spark of innovation and disruption in KPK and aims to bring about a transformational leap in the regional economy.