NIC understands the need for accommodative work spaces until a startup is able to establish themselves on independent grounds. In order to support their graduates and to help subsidize other startups, NIC is now offering configurable, affordable and adaptive co-working office centers. The incentive behind the very user-friendly Plug N Play center is to generate positive cash flows and raise funding until the startups have it in them to afford independent offices.
In order to add convenience for startups the center offers an alterable per-head rent scale. Therefore, companies with fewer members will have a lower rent subsidy, as opposed to those with more members. As a startup expands from its initial stages to a well-established company, the team is also bound to increase in size. Consequently, as the head count increases, the rent will as well encouraging them to move out into independent establishments and thus make room for younger startups in need of the assistance.
To ensure a more holistic experience is provided to the members of the PNP Center, NIC will also conduct mentoring sessions and invite guest speakers periodically. The startups located at these Plug ‘N’ Play Centers can join the acceleration program at The Foundation.
A network of Plug ‘N’ Play Centers with LUMS at their epicenter is intended to gradually build into an innovation and entrepreneurial hub attracting and producing more and more entrepreneurs.