NIC Lahore – The Foundation is a 6-month long, intense, business incubation and acceleration program offered at the National Incubation Center Lahore to the most promising startups scouted from all across Pakistan and scrutinized by the Foundation Council. Only the best startups led by passionate founders pursuing a sustainable, high-growth or high-impact venture make it to the program.
The Foundation takes away most administrative hassles so that founders can focus on developing their ventures. Mutually agreed upon milestones are used to gauge startup development throughout the 6-month incubation/acceleration cycle and successful ventures are showcased at an investor conference upon graduation. The Foundation also offers a non-resident acceleration program for founders of existing, young companies to avail its mentoring and investment networking platform.
The Foundation offers the following to the startups:
- Up to 6 months of access to huge co-working office facility at LUMS
- 24×7 utilities including power, internet and phone
- Shared access to IT and administrative infrastructure & resources
- State of the art video conferencing system
- Access to LUMS labs, library, gym & other common access facilities
- Access to the world-class faculty at LUMS
- Access to first ever to be built MakerLAB in Pakistan
- Continuous support from the world-class management of NIC Lahore
- Marketing and PR support from NIC Lahore
- Access to world-class Smart Class Room
- Regular mentoring and advice from seasoned leaders
- Access to investors at the Startup Summit
Following are the verticals you can apply for:
- Artificial Intelligence / Machine >Learning
- Big Data / Data Sciences
- Computer Vision
- Education / Edtech
- Entertainment / Digital Media
- Food / Food Technology
- Mobility & Last Mile
- Plastic Abatement
- Retail-Tech / Distribution-Tech
- Robotics & Automation
- VR / AR
- Even though the startup founders do not have to pay for any of these services from out of their pockets, they will need to part with equity/shares in the company. The equity ranges from 2.5% to 5% depending on the services availed as depicted below.
Acceleration 2.5% Equity
Startups can be a part of our non-resident acceleration program which only offers access to NIC’s mentoring sessions, talks, some marketing/PR support and pitching rights at the Startup Summit. This program is for startups at later stages of growth. Most of the startups selected for acceleration are Post Revenue, Have their business models figured out and executed and are looking to take their businesses to next level.
Induction in acceleration is also subject to evaluation of your business.
Incubation 5% Equity
Everything listed above, is offered for resident incubation program including 24×7 access to The Foundation co-working space and other LUMS facilities and services.