ISLAMABAD: Minister for Information Technology & Telecommunications Syed Amin-ul-Haque stated on Monday that Pakistan would surpass its IT export target of $3 billion this year due to various steps taken by the ministry.
In his speech at a graduation ceremony held at the National Incubation Centre (NIC) in Lahore University of Management Sciences (LUMS), he said that Pakistan’s IT exports had already crossed $2.1 billion due to a boost in investment.
Recent data suggests that start-ups have grown by almost 5 times as compared to those in 2020. This is largely due to the ministry’s initiative Ignite, which provides a platform to start-ups to pitch their ideas to local and international customers and investors.
The minister added that such measures aim to fuel the growth of tech companies and leaders and, ultimately, the economy. The NICs in Islamabad, Karachi, Lahore, Peshawar and Quetta especially have provided the coaching and community needed for building technological innovation in the nation.
“The newly established incubation centres of Hyderabad and Faisalabad would help us expand and tap into the potential of Sindh and Punjab,” he said further. “We wish to provide the youth a fora to bring your ideas into reality.”
LUMS Vice Chancellor Dr. Arshad Ahmad, Ignite CEO Asim Shahryar Husain, NITB Executive Director & Board of Ignite Chairman Syed Husnain Abbas Kazmi were some of the notable officials present at the event.
In his address, Mr. Asim Shahryar Husain stated that Ignite is planning to launch at least 5 more NICs in different cities of Pakistan.
Mr. Syed Husnain Abbas Kazmi also encouraged the graduates to contribute to a future where anyone with vision and drive can access the skills and support needed to succeed as a tech leader.
“We are eager to refurbish the infrastructure of our entrepreneurial endeavours with modern day ideas,” said Dr. Arshad Ahmed.
A cash prize was also awarded to the three most high-achieving graduates. The first prize was given to a life sciences venture called QBio; the second prize was awarded to Dawa Asaan, Pakistan’s first smart pharmacy; and the third prize went to PeerVest Global, a digital equity-based crowdfunding platform.
The minister was later given a tour of NIC, including the first-ever Makers Lab, which was designed to promote entrepreneurship.