Karachi:Lucky Landmark, part of Yunus Brothers Group (YBG), in partnership with LMKT and Orbit Startups, has been awarded the project of managing the National Incubation Center (NIC) Karachi under an agreement for the next five years by Ignite, Ministry of IT and Telecom.
Pro Vice-Chancellor of NED Engineering University Karachi, Prof. Dr. Muhammad Tufail, Chief Executive Officer (CEO) Ignite Adeel Aijaz Sheikh, Ali Sohail Tabba of YBG, Syed Azfar Hussain of NIC Karachi and other notables were present in the signing ceremony held at the NIC Karachi-NED Engineering University on Thursday.
Speaking on the occasion, Prof. Dr. Muhammad Tufail said that the NED University was extending every possible cooperation to the NIC Karachi for its success. A gaming center will also be established soon with the support of Ignite, he added.
The CEO of Ignite Adeel Sheikh said that it was fantastic to continue our partnership with trusted collaborators for another five years.
We are excited to witness the emergence of m
ore startups focusing on Industrial Automation, FinTech, Cyber Security, and women-led ventures. Together, we will further strengthen Pakistan’s innovation landscape, he said.
“We believe a nation’s prosperity is linked to its capacity for innovation. As a cornerstone of this country’s economy, we recognize our duty to cultivate a thriving startup ecosystem that is able to nurture the next generation of entrepreneurs and propel our country into a future of unparalleled progress,’ said Ali Sohail Tabba, representing YB Group at the ceremony.
CEO LMKT Atif Rais Khan, stated, “Winning the NIC Karachi project once again is a testament to our dedication and success. We are committed to elevate NIC Karachi to even greater heights.
He said that this collaboration with Lucky Landmark and Orbit Startups will immensely benefit both current and future startups incubated at NIC Karachi.
As part of Ignite’s new strategic focus, NIC Karachi will emphasize industrial automation, FinTech, Cyber Security, and the inductio
n of women-led startups.
Over the past six years, under LMKT’s management, NIC Karachi has become Pakistan’s largest tech incubator and startup accelerator. The center has supported 299 startups, who have created one million jobs, raised Rs. 9.1 billion in investments, and generated Rs. 8.7 billion in revenue.
Sponsors of Lucky Landmark, the YB Group one of Pakistan’s largest conglomerates, has teamed up with LMKT, the country’s leading IT company, and Orbit Startups, an international accelerator renowned for its active investments in Pakistani startups.
This collaboration promises to further enhance NIC Karachi’s impact on the startup ecosystem.