IdeaGist to invest $100m for Prime Minister’s startup programme
IdeaGist, the world’s largest incubator, announces to increase its technology investment from $55 million to $100m to support PM's programme.
- IdeaGist, the world’s largest incubator, announces to increase its technology investment from $55 million to $100m.
- The additional amount will be invested in incubating and accelerating new ventures in emerging technologies.
- IdeaGist congratulated prime minister and the State Bank of Pakistan on the successful launch of Rs100 billion finance programme.
IdeaGist, a renowned incubator, announces an investment hike from previous $55 million to $100m in Prime Minister’s ambitious new venture. Prime Minister Imran Khan’s vision of entrepreneurship and innovation in emerging technologies is optimistic and promising.
IdeaGist founder Hassan Syed in a statement issued on Sunday said that the additional amount of $45 million will go to incubation and accelerating new ventures in emerging technologies. He also appreciated prime minister and the State Bank of Pakistan for the successful launch of Rs100 billion finance programme in the initial months of the inception.
The State Bank of Pakistan has initiated a subsidised financing programme worth Rs100bn for startups and small-to-medium enterprise. It has been done in a bid to create self-employment opportunities and encourage the youth for startups.
A future gateway:
Syed said that it made a commercial sense to invest strategically in Pakistan’s innovation ecosystem. He also urged the prime minister to prioritise investment and devotion towards science and technology to promote a culture of innovation.
IdeaGist has already launched an incubation programme that covers the following seven segments:
- 3D printing
- Artificial intelligence
- Intelligent vehicles
- Smart robots
- Internet of things
- Augmented reality.
The digital incubator, also the largest supporter of prime minister’s start-up programme, has already set-up 590 incubators and accelerators across Pakistan.
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