Punjab Information Technology Board (PITB) Chairman Faisal Yousaf emphasized that the National Expansion Plan, launched as part of the National Incubation Centers (NICs) initiative, aims to democratize entrepreneurship, amplify business activities nationwide, foster growth in the IT sector, and stimulate economic advancement in Pakistan.
Yousaf articulated these goals during a meeting held to evaluate the progress of the National Expansion Plan. He underscored that the incubation program is specifically designed to cater to the needs of early-stage startups and operates without claiming any equity from the participants.
He highlighted that a total of 261 startups successfully completed the National Expansion Plan between January 2023 and December 2023, a joint effort of the Punjab Information Technology Board (PITB) and the Ministry of Information Technology and Telecommunication (MoITT).
During the meeting, it was revealed that among the graduates of the NEP initiative, 87 startups hailed from Punjab, 64 from Sindh, 20 from Azad Jammu and Kashmir, 39 from Khyber Pakhtunkhwa, 31 from Balochistan, and 20 from Gilgit Baltistan.
In collaboration with public universities, 13 technology incubation centers have been established countrywide. These centers offer startups a range of benefits, including cost-free workspace, mentorship, networking opportunities, monthly stipends, business assistance, and legal guidance for a duration of six months.
(Islamabad51_Newsdesk)
