Islamabad, March 31, 2023 (PPI-OT): On March 16, 2023, LMKT-operated NIC Peshawar hosted a spectacular graduation ceremony for its Seventh and Eighth cohort startups. The event was attended by distinguished guests and dignitaries from the region, including managing director of the KPIT board, Ali Mehmood, General Manager Projects Ignite, Bilal Abbasi, Chairman of Planet N Group, Nadeem Hussain, and prominent members of the local business community.
As the operator of three of the seven National Incubation Centers, including NIC Peshawar, NIC Karachi and NIC Hyderabad, in Pakistan, LMKT has played a pivotal role in fostering the growth of the startup ecosystem in the country. Over the last five years, through this network, LMKT has incubated more than 500 startups all across the country.
Since its inception, 65 startups have graduated from NIC Peshawar’s incubation program, generating over 2,447 direct and 10,945 indirect employment opportunities, raising more than Rs1.35 billion in investments, and registering a revenue growth of over Rs950.5 million. The Seventh and Eighth cohort startups have created disruptive solutions for various industries, with their innovation and creativity being commendable and inspiring.
The startups that graduated from the 7th cohort were Flyaway Hub, Kween, LaWomen, JANS Enterprises, Pak-MCQS, and uSteth. The 8th cohort graduates were Menrva, Wah Mantu, Brayt, Waterness, Altimate Outdoors, Northwest Technologies, E-Retail Point, Cobblers Cartel, Pdf Sehat (Smc Private) Limited, and Laraibs Cosmetics.
Nadeem Hussain, Chairman Planet N Group, praised the center for spearheading the development and expansion of the startup ecosystem in the region, stating,
“NIC Peshawar’s innovative programs and initiatives have created a supportive environment that nurtures young entrepreneurs and empowers them to turn their ideas into successful businesses.”
CEO LMKT, Atif Rais Khan, who joined the event virtually, emphasized the importance of startups in the current economic condition, stating,
“Startups are the hope for the future, and they have a critical role to play in driving economic growth and creating jobs.”
Lastly, Project Director NIC Peshawar, Asim Ishaq Khan, expressed his gratitude to all the participants and guests for their support and encouragement to the graduating startups, stating,
“NIC Peshawar has been instrumental in the growth and development of the entrepreneurial ecosystem, and we are proud of the graduates’ accomplishments. We wish them success in their future endeavors.”
Overall, the graduation ceremony marked another milestone in the success of the NIC program in shaping and empowering the startup ecosystem in Pakistan. The innovative ideas and entrepreneurial spirit of the graduating startups are set to create a significant impact on the economy and society, paving the way for a brighter future for the country’s startup ecosystem.
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