The Ministry of Information Technology and Telecommunication has announced that applications are now being accepted for the 5th Cohort of the Incubation Cycle under the National Expansion Plan (NEP) of the National Incubation Centers (NICs). This initiative, led by the Ministry of Information Technology & Telecommunication (MoITT) and the Punjab Information Technology Board (PITB), aims to expand the startup ecosystem in the country.
The incubation cycle for the 5th Cohort will run for a period of six months and will follow a Zero Equity Model, meaning that startups accepted into the program will not be required to give up any equity. The selected startups will be provided with free office space, legal consultancy, and mentorship during the six-month duration. The program will also offer more than 30 sessions and trainings to help the startups develop and grow their businesses.
The NEP is currently accepting applications for various regions across Pakistan, including Punjab, Sindh, Khyber Pakhtunkhwa (KP), Balochistan, and AJK. In Punjab, applications are invited for the Lahore, Rawalpindi, Taxila, and Gujrat regions. In Sindh, applications are invited for Karachi, Jamshoro, and Sukkur regions. Balochistan is seeking applications for the Quetta and Lasbela regions. The KP region is accepting applications for Kohat and Swat, while AJK is welcoming applications for the Muzaffarabad region.
The National Expansion Plan of NICs is a significant step towards fostering innovation and supporting startups in Pakistan. By providing resources, guidance, and support, the program aims to create an enabling environment for entrepreneurs and contribute to the growth of the country’s startup ecosystem.