Jazz is dedicated to giving startups the tools and support they need to have a significant socioeconomic impact and advance Pakistan’s digital economy.
In collaboration with Ignite (the Ministry of Information Technology and Telecommunication), Teamup, and Jazz, the leading digital operator in Pakistan, 295 startups were successfully incubated at the National Incubation Center (NIC) in Islamabad.
Notably, talented female founders were responsible for 24% of these startups, demonstrating their indispensable contribution to the startup ecosystem.
This declaration was made today at an interactive event to commemorate the graduation of NIC’s 10th, 11th, and 12th cohorts in front of Aamir Ibrahim, the minister of planning, development, and special initiatives, CEO Jazz, and members of the larger tech ecosystem.
Since its establishment in 2016, NIC has been a thriving centre for innovation, luring significant investment and generating socioeconomic impact in Pakistan.
With a history of producing more than 20,000 jobs, more than Rs 6.5 billion in sales revenues, and more than Rs 7 billion in investments for incubated startups, NIC has played a crucial role in accelerating its operations and encouraging entrepreneurial growth.
“Supporting innovation is key to success and survival,” Minister said in a statement congratulating the graduating startups. We must develop the creative capacities of the future in order to guide the nation into the future and spark an economic explosion.
The budget includes Rs 80 billion in youth-focused initiatives, including a Rs 5 billion venture capital investment. In the following 25 years, Pakistan is to be positioned as a hub for global innovation. CEO of Jazz, Aamir Ibrahim, highlighted Pakistan’s thriving entrepreneurial ecosystem by praising NIC’s accomplishments in supporting and empowering startups.
Jazz, who has contributed the most to the Ignite fund, is dedicated to giving startups the tools and support they need to have a significant socioeconomic impact and advance Pakistan’s digital economy.
The collaboration between Ignite and NIC aims to support Pakistani innovation and entrepreneurship. National Incubation Center develops an ecosystem for Pakistani startups by offering mentors, subject matter experts, and resources with assistance from the IT ministry, Jazz, Ignite, and Teamup. The result of this collaboration has been the development of concepts into successful, scalable businesses.
Jazz Xlr8, Pakistan’s top accelerator programme, is housed at NIC Islamabad. It incubates 31 startups and presents their concepts at the 4YFN Mobile World Congress in Barcelona.
This partnership between Jazz and Ignite aims to promote economic development, job opportunities, and innovation in Pakistan. The fact that 295 tech startups were successfully incubated shows how dedicated Jazz and Ignite are to Pakistan’s digital future.