Author:
Athar Ahmad
|
Publish Date:
August 8, 2018

National Incubation Center Peshawar is a joint initiative of LMKT and PTCL that is backed by the Ignite Fund, formerly known as ICTR&D Fund.

NIC Peshawar aims to build a thriving entrepreneurial ecosystem in Khyber Pukhtunkhwa and support the creation of disruptive, innovative product-based tech startups. With efficient utilization and allocation of resources these disruptors will change the way people live, work and play.

Need being the mother of invention, an indigenous startup culture will respond to local challenges to create solutions that benefit the Pakistani society. widespread use of IT in sectors like energy, agriculture, education and health care will benefit the masses.

Curriculum and resources from one of the world’s leading incubator/accelerator, ‘Founder Institute’ are used at NIC Peshawar to build great companies. The Founder Institute has graduated over 2000 startups, 45% of which have acquired funding and have a combined valuation of over $ 15 billion.

NIC Peshawar’s mentors, who are among the finest in Pakistan and the world, work with budding entrepreneurs to make their ventures a success. A network of Angel Investors, Venture Capitalist and Technology Development funds is also being developed to support the entrepreneurs of Khyber Pukhtunkhwa.

NIC Peshawar is LMKT’s latest venture in its decade long tradition of investing in indigenous startups. LMKT is a full-service technology company based out of Pakistan that offers scalable IT solutions for developing smart cities, smart buildings, e-governance, clean technology and agri-tech solutions to support the country’s fast-growing economy and rapid urbanization.

As a company that operates on the cutting edge of technology, LMKT recognizes the importance of innovation in disrupting incumbent industries and finding solutions to some of our country’s most pressing developmental challenges. Investing in local startups and working closely with entrepreneurs is our way of ensuring that the business leaders of tomorrow are equipped with the necessary tools and resources to see their ideas through to the finish line. It is for this very reason that LMKT have invested in many disruptive startups over the last decade.

LMKT’s goal with the National Incubation Center Peshawar is to

“create success stories bigger than ours.”

Programs of NIC

NIC Peshawar provides startups with the resources and tools they need to establish themselves as successful entrepreneurs. We are excited to ignite the spark in Khyber Pukhtunkhwa by extending the following:

  • One of the best curriculum in the world to incubate & accelerate
  • A vibrant and stimulating workspace
  • Technology Commercialization Support
  • Access to Mentors
  • Access to Investor Network
  • Access to business leaders across Pakistan

We have put in place a comprehensive mentor-driven three-phase acceleration plan:

HATCHERY(1.5 Months Duration)

The goal of the Hatchery is to groom aspiring entrepreneurs – and provide them the knowledge they need to qualify the rigorous acceleration program. In this phase the program will have the following segments:

  • Extroversion, Agreeability, Coachability, Analytical Skills, Forthrightness, Motivation & Fortitude
  • Basics of Entrepreneurship
  • Employee vs Entrepreneur
  • SME vs Tech startup
  • Fundamentals of ideation and pitching
  • Local entrepreneurial success stories
  • Opportunities for innovation in Pakistan
  • Overview of Acceleration Program

The Hatchery would also provide an opportunity for entrepreneurs to network and find partners/co-founders.

ACCELERATE (4.5 Months Duration)

Based on the Lean Startup Model (LSM) successful companies must pass through some sequenced steps of learning:

  • Idea formulation (problem-solution fit, size of market, barriers to entry).
  • Company formulation (team and advisors, legal and IPR).
  • Product development
  • Business development (PR, Events, marketing, sales, branding).
  • Funding and Bootstrapping (how to accomplish a lot with a shoestring budget, how to prepare pitch decks, how to pitch to investors, prepare for due diligence, negotiate share holder agreements, report in Board meetings.)

In a structured program, each week focuses on and drills down into the details of a particular topic until the incubatees understand and internalize the concepts and can apply them to their company. NIC Peshawar plans to have two semesters of 12-13 Incubatees in a year to ensure a more structured approach.Founder Institute will provide Incubatees with a world class, rigorous and structured “learn-by-doing” curriculum that is customized for Pakistan. The program will cover:

  • Extroversion, Agreeability, Coachability, Analytical Skills, Forthrightness, Motivation & Fortitude
  • Idea generation and validation
  • Research and customer validation
  • Revenue Models
  • Naming and positioning
  • Product development
  • Legal structuring and IPR
  • Team formation
  • Sales and customer traction
  • Marketing and branding
  • Bootstrapping and fund raising

PLUS (6 Months Duration)

PLUS would be offered to both accelerator graduates as well as advanced entrepreneurs who do not require participation in the accelerator or hatchery programs. The primary offerings of PLUS, in addition to those offered by the incubator as a whole would be assistance in accessing best-available vertical-specific content, and networking with investors and advisors. Advisors are accomplished individuals who are considered leaders in their  fields and who can provide market advice, technology advice and connectivity with customers, suppliers and partners in that field.

Advanced entrepreneurs who do not require participation in the acceleration program will be given a time frame of 6 months in PLUS, comprehensive evaluation will determine their further stay at PLUS provided they have made considerable progress, availability factor of space will also determine the extension in timeframe.

For More Details and Information: Visit NIC Peshawar Website





 
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