The National Incubation Center at LUMS, Lahore (NICL) has launched applications for its eighth Cohort with the aim to inspire, engage, enable and facilitate innovative entrepreneurs ready to solve critical problems for Pakistan.
NICL’s goal is to partner with visionaries, intuitive problem solvers and business enthusiasts to incubate a greater percentage of businesses that address a large commercial opportunity and attract investment capital for growth. Through their focused approach towards providing training and networking support to tech-based changemakers in Pakistan, NICL serves as a launching pad for start-ups, bolstering the nascent entrepreneurial ecosystem of the country.
“With a keen focus on high-impact sectors such as education, healthcare, agriculture, finance, and the environment, NICL aims to channel the power of new technologies such as artificial intelligence, cloud, blockchain, 3D printing, and the Internet of Things NICL to enable real-world impact and scalable business success,” commented Saleem Ahmad, Chairman, NICL. “Our renewed vision envisages greater participation from corporate leaders and experienced professionals who are seeking value creation and problem solving by pivoting their expertise to entrepreneurship. We can facilitate them with requisite resources to fill any gaps in their effort to create a business around their idea such as training, mentor connectivity or partnerships with co-founders and teammates”, he added.
Induction to the NICL program is a competitive process. Applications are reviewed by members of NICL’s Foundation Council, which includes successful entrepreneurs with a diverse range of experiences who have themselves raised significant capital for growth, as well as angel and venture investors active in Pakistan. Once the start-ups with the most potential for impact and success are selected, they are exposed to a meticulous curriculum offered by NICL’s top tier LUMS faculty and international experts.
The course content comprises essential knowledge for budding start-ups with modules on design thinking, strategy and business modelling, marketing and market research as well as the legal and financial aspects of entrepreneurship. They are also given access to state-of-art labs to facilitate prototyping of their solutions. This applied focus, complemented by bespoke workshops and mentorship by LUMS alumni, is instrumental in sculpting abstract ideas into tangible reality.
The program paves the way for the capstone Investor Summit, where start-ups are given the opportunity to pitch their ideas and interact with early-stage venture investors.
This is an exclusive opportunity for passionate problem solvers and courageous entrepreneurs looking for the right guidance to catapult their ideas to success.