IdeaGist, the largest incubator worldwide, made an announcement that it is increasing its technology investment with $45-million, from $55-million to $100-million to contribute to Prime Minister Imran Khan’s concept regarding entrepreneurship & innovation in new and emerging technologies.
The amount of $45-million will be utilized in the incubation & acceleration of new enterprises within emerging technologies according to a statement made by Hassan Syed, the founder of IdeaGist.
Syed offered his congratulations to PM Khan as well as Pakistan’s State Bank for successfully launching a financing programme of Rs100-billion, in a period of months since its initiation.
On Saturday, 13 July the launching of a financing programme which is subsidized, to the value of Rs100-billion, from Pakistan’s State Bank took place.
The Rs-100-billion will be used for funding startups as well as small-to-medium ventures, to establish self-employment opportunities in Pakistan.
Mr. Syed stated that investing strategically in the country’s innovation ecosystem, made commercial sense.
He encouraged PM Khan as well as Chaudhry Fawad Hussain, (minister of science & technology) to discover innovative methods to invest in emerging technology enterprises and promoting innovation culture.
Thus far, IdeaGist has launched an incubator & accelerator program in the area of seven main emerging technologies, including artificial intelligence, 3D printing, smart robots, intelligent vehicles, internet of things, blockchain and augmented reality.
As the globe’s largest digital incubator & largest supporter of PM Khan’s startup program, Ideagist is ready to establish 590 incubators & accelerators throughout the country.