Quest of Knowledge depends on Nationwide Climate of Innovation: Ahsan Iqbal Inaugurates NICAT Investment Ecosystem

September 16, 2024

Rawalpindi: In his keynote address on the occasion of International Science, Technology and Innovation Day, Minister Ahsan Iqbal highlighted the significant steps taken by the Government of Pakistan in the fields of science and technology and reaffirmed the commitment to transforming Pakistan into a modern, technology-driven economy.

Minister made these remarks at the launch of NICAT investment ecosystem in a landmark event today, bringing together prominent industry leaders, government officials, investors, and innovative startups.

NICAT (National Incubation Center for Aerospace Technologies), in collaboration with Ignite National Technology Fund and NASTP (National Aerospace Science and Technology Park), launched the NICAT Investment startups ecosystem to foster technological innovation and entrepreneurship within Pakistan, providing a platform for transformative collaboration across the aerospace and technology sectors.

Minister Ahsan Iqbal stated that incubation centres like NICAT contribute to the development of an innovative ecosystem in which tech entrepreneurship can thrive, emphasizing that a country with bustling tech ecosystems can fast track its growth by attracting investment.

The event commenced with Minister’s tour of the NICAT facility, followed by a showcase of cutting-edge startups at the forefront of technological advancement in the aerospace, AI, and IoT domains. Attendees included representatives from NAVTTC, the Islamabad Chamber of Commerce and Industry, Bank Alfalah, and international partners from over 20 countries, reinforcing the commitment to strengthen Pakistan’s technological ecosystem.

Minister Ahsan Iqbal said that Pakistan’s biggest strength is its youth, which need to be passionate and devoted in succeeding with their startup ideas. Highlighting the fact that Pakistan’s tech entrepreneurs have won laurels all over the world, he assured that the government remains fully committed to developing the technology landscape for the growing businesses.

Citing examples of world class universities such as Oxford, Cambridge, Harvard, Stanford, MIT and others, Minister Ahsan Iqbal said, “One peculiar thing you will find in these universities is that their laboratories and libraries remain open round the clock. There’s no concept of off-duty hours in the world’s best universities because innovators have no deadline.” He emphasized on the need to create an environment that fosters critical thinking and problem solving skills in Pakistan’s universities, eventually establishing stronger links between universities and industries.

The minister shed light on the government’s major scientific and technological initiatives at the national level. These include the establishment of National Centre for Artificial Intelligence, National Centre for Cyber Security, National Centre for Robotics and Automation, National Centre for Big Data and Cloud Computing, and National Centre for Genomics.
He noted that these centers are playing a crucial role in fostering a robust scientific environment within the country.

Furthermore, Ahsan Iqbal expressed that Pakistan holds a unique history and strategic geographic importance. Despite facing various challenges, the country has learned from its hardships and emerged stronger. He remarked, “Pakistan, though faced with numerous difficulties in its early days, is now the world’s seventh nuclear power. Our industrial and defense sectors have made remarkable advancements, exemplified by the development of state-of-the-art aircraft like the JF-17 Thunder.”

The minister also stressed the urgent need to equip Pakistan’s youth with digital skills, stating that future progress will belong to nations that adopt modern technologies. He announced the launch of a new program in collaboration with Google, aimed at providing digital skills training to young people.

The event marked a significant milestone in NICAT’s journey toward establishing an inclusive investment ecosystem, designed to drive Pakistan’s innovation and entrepreneurship to new heights. The launch of the NICAT Investment Ecosystem is set to open unprecedented opportunities for investors and startups alike, further cementing Pakistan’s position as a hub of technological advancement.

The event’s highlight was a presentation by Imran Jattala, Project Director of NICAT, who virtually introduced the NICAT Investment Ecosystem. His presentation outlined how NICAT is building an integrated investment pipeline to connect startups with global and domestic investors, further advancing Pakistan’s technological footprint.

Concluding the ceremony, Minister Ahsan Iqbal noted that Pakistan is now being promoted as an “Investment Destination” and that the global community views Pakistan as one of the most attractive countries for investment opportunities, rather than just a security concern.

Air Vice Marshal (AVM) Asad Ikram, Principal Advisor at NICAT emphasized the critical role of technology in transforming nations.

“The difference between developed and developing countries lies in technology. Our vision is to ignite passion and transform Pakistan into a superpower. We are reshaping minds and hearts, which is at the core of our mission,” stated AVM Asad Ikram.

Adding to the strategic narrative, AVM Dr. Liaquat Ullah Iqbal, CEO of NASTP, highlighted the significance of aligning resources to drive the nation’s technological future. He stated, “We are now integrating our resources after building a strong foundation, with five technology parks established and further collaborations with Turkey and 20 other countries. Our dream is to elevate NASTP into a world-class technology center.