The National Incubation Center follows a rigorous process for cohort induction. Each startup is evaluated by relevant domain and industry experts during a 3-day interview process. Out of the 1500 applications received, 52 startups were shortlisted for interviews, and a final of 24 have been selected to join the cohort.
The NIC is currently following a hybrid incubation program and will continue while the Covid-19 crisis is on-going. In the last four months alone, the incubation center has completed more than 60 hours of online curriculum and mentoring. The sessions will continue to run virtually, while startups will be provided physical space to run operations as soon as the award-winning facility reopens.
NIC’s hybrid incubation program attracted many international applicants this time around, with candidates from Canada, Germany, KSA, UK, USA, and Switzerland applying for the incubation program. Startups selected for the 8th Cohort are from diverse industries including E-Commerce, Wearables, Big Data and Analytics, Health-tech, Fintech, Blockchain, IoT, Productivity, Agri-tech, and others.
The orientation week for the new cohort is currently in full swing. Startups are attending virtual sessions with the NIC team, alumni, and incubatees. The NIC has not only successfully completed the C8 induction process virtually, but is also enhancing the virtual experience for the 8th cohort, which is the first cohort to join the NIC in its hybrid incubation program. The startups were also given a virtual tour, powered by Mapalytics, a NIC alumni startup, during the first day of orientation so they could experience what the workplace looks like.
From thinking innovatively, to evolving into sustainable & scalable businesses, the National Incubation Center offers a world-class environment, enabling startups to design & implement impactful solutions. The NIC offers industry linkages, and international partnerships, enabling them to develop innovative business models in an immersive ideation environment.
Startups at the NIC undergo weeks of the intensive custom-designed curriculum to meet the individual needs of startups. Start-ups are trained in areas of product development, design thinking, growth hacking, financial management, market research, advertising, pitching to potential investors, and much more. NIC Pakistan also offers extensive mentorship programs, where local and international mentors work one-on-one with startups, prepares startups to smoothly transition from one stage of the Startup Cycle to the next.
With 78 startups from 5 cohorts graduated, and Cohort 6 and 7 currently undergoing incubation, the team at NIC is all geared up to bring its next cohort of innovative startups onboard.
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