In collaboration with the University of Sindh, the Federal Ministry of IT and Telecommunication is launching its seventh National Incubation Center in Hyderabad.
An agreement in this regard has been inked between the University of Sindh and the Agnite at a local hotel in Hyderabad on Monday.
Sindh University Vice-Chancellor Professor (Meritorious) Dr Muhammad Siddique Kalhoro and Federal Minister for Information Technology and Telecommunication Syed Aminul Haq were also present on the occasion.
The agreement was signed by Vice Chancellor University of Sindh Jamshoro Prof. Dr. Muhammad Siddique Kalhoro and CEO Ignite Asim Shehryar Hussain.
Dean Faculty of Engineering and Technology Prof. Dr. Khalil-ur-Rehman Khoumbati, Advisor Planning and Development Sajid Qayoom Memon, SU’s Controller of Examinations Dr. Siraj-ul-Haq Kandhro, Dr. Nek Muhammad Sheikh, Ghulam Murtaza Sial, Commissioner Hyderabad, Deputy Commissioner Hyderabad, Member National Assembly Engineer Sabir Hussain Qaim Khani, Federal Secretary IT & Telecom Dr. Muhammad Sohail Rajput, officials of Ministry of IT, Agnite, Sindh University, Academy, business community and other personalities from IT industries participated at the ceremony.
On the occasion, SU VC Dr Muhammad Siddique Kalhoro said that National Incubation Center (NIC) was being set up to create entrepreneurial skills in the youth, for which the University of Sindh was providing building in the business hub of the city.
He said that the establishment of NIC in Hyderabad in collaboration with was a very commendable step of the government of Pakistan.
“In this regard, we are very grateful to the Federal Minister for IT and Telecom Syed Amin-ul-Haq and his team. I think the cooperation between Sindh University and Ministry of IT & Telecom would benefit thousands of students and they would be able to earn good money by commencing their own business”, he said.
He further said that 40,000 students were currently studying in the University of Sindh Jamshoro and its campuses adding that the National Incubation Center will be able to benefit the graduates of all the universities of the province.
Speaking on the occasion, the Federal Minister for IT and Telecom Syed Amin-ul-Haq said that the Ministry of IT and Telecom had already set up five National Incubation Centers through its organization Ignite National Technology Fund.
“NIC is being set up in Islamabad, Karachi, Quetta, Lahore and Peshawar while the sixth centre is being set up in Faisalabad which will focus on agritech” he said and added that more centers were being set up in other cities of the country.
He said incubators in health tech, gaming, animation and electronics were being set up in line with the federal government’s vision of Digital Pakistan and providing conducive environment for potential entrepreneurs. Therefore, to move forward, he said a National Incubation Center was need of the hour to be set up in Hyderabad in order to improve the efficiency of various industries including agriculture, livestock, ornamental products, textiles, sugar, cement, etc. located in Hyderabad and it’s adjoining areas.
He said that the establishment of National Incubation Center in Hyderabad had become a necessity for the youth of the city and its surrounding rural and rural areas to transform the traditional business approach into a form based on modern technology.
Syed Amin-ul-Haq further said that the Federal Ministry of IT and Telecom was providing a conducive environment to all stakeholders of the startup ecosystem to promote startup culture and attract foreign investment.
He said that the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan had also relaxed the rules to attract investment in technology based business solutions.
He said that as a result of these measures, investment in Pakistani startups was skyrocketing during 2021 and about $ 373 million had been raised by Pakistani startups, up from US $ 75 million last year about 5 times more than the investment.
The Minister congratulated the Secretary IT and Telecom and the CEO, Agnite, for signing an agreement with the University of Sindh to provide space at the Elsa Qazi Campus for the establishment of National Incubation Center, Hyderabad.
He also congratulated the Vice Chancellor of Sindh University for concluding an agreement with Ignite for the establishment of National Incubation Center Hyderabad.
In his address, the Federal Secretary for IT and Telecom Dr Muhammad Sohail Rajput congratulated Iqnite and University of Sindh for signing the agreement and hoped that this partnership would be the beginning of a successful journey for Hyderabad startups.
“Our youth have immense potential and we are taking advantage of a conducive environment so that they can contribute to the national economy,” he said.
CEO Ignite said that despite being the closest district to Karachi, Hyderabad had always maintained its identity in all walks of life.