NIC Karachi inducts 35 startups into Cohort 16

Business Recorder reported that the National Incubation Center Karachi (NIC Karachi) has admitted 35 startups to Cohort 16, the latest intake of its main incubation scheme. The announcement, made through a statement on Saturday, framed the intake as a milestone in efforts to build Pakistan's entrepreneurial base around innovative, technology focused companies. Selection was competitive, with more than 700 applications received from across the country.

The programme is funded by Ignite, the National Technology Fund under the Ministry of Information Technology and Telecommunication, and run by LMKT with Lucky Landmark Pvt. Ltd. Orbit Ventures serves as its international acceleration partner. According to the statement, the incubated firms have together posted revenue above Rs13 billion and drawn investment exceeding Rs13 billion. Through the Orbit Ventures tie-up, Cohort 16 will gain stronger mentoring, structured acceleration and wider access to global networks and prospective investors.

Syed Azfar Hussain, Project Director of NIC Karachi, called the intake another step in strengthening Pakistan's startup landscape. He said the range and calibre of ideas reviewed this year point to rising entrepreneurial ambition across the country.