NIC LUMS opens applications for innovators to operationalise tech-enabled solutions for real-world impact
Lahore (Muhammad Yasir) The National Incubation Center at LUMS, Lahore (NICL) is ready to induct the next group of passionate innovators looking to make a meaningful impact by transforming their ideas into investor-ready business plans.
NICL’s mission is to partner with visionary thinkers and radical doers. With a focused approach towards providing the best training, facilities, and networking support in Pakistan, NICL brings unprecedented opportunities to mobilise start-ups and provide them with the necessary tools to not only ensure scalable success, but also to bolster the start-up ecosystem of the country.
The Center has identified high impact areas for improvement in Pakistan including education, healthcare, agriculture, finance, and the environment. By harnessing the power of technologies such as artificial intelligence, cloud, blockchain and the Internet of Things, NICL aims to partner with the next generation of innovators to solve Pakistan’s most critical problems. This national-level purpose also gives start-ups supported by NICL a much larger commercial opportunity than offered by most.
The cohort will be selected to the free-of-cost programme through a rigorously competitive process. “Each application will be reviewed by members of NICL’s Foundation Council, which includes successful entrepreneurs with a diverse range of experiences who have themselves raised significant capital for growth, as well as angel and venture investors active in Pakistan. Each member is passionately committed to ensuring progress and success for Pakistan, committing their time, capital and experience to curate and develop the start-up ecosystem of the country,” commented Saleem Ahmad, Chairman NICL.
Over the course of six months, the curriculum will be delivered by esteemed LUMS faculty and international technical experts and will comprise six intensive bootcamps covering: 1) design thinking; 2) strategy and business modelling; 3) marketing, branding and sales; 4) finance, accounting, valuation and equity management; 5) negotiations and legal aspects of entrepreneurship; and 6) presentation and communication skills. The applied focus of academic programming, supplemented by bespoke workshops, a speaker series and mentorship by LUMS alumni, will be instrumental in developing ideas into reality.
In addition, the cohort can take advantage of a multitude of resources including the Entrepreneurs in Conversation series which gives start-ups direct access to those who have successfully tread the path of innovation and entrepreneurship so they can learn and be inspired by those who have made it. And through it all, start-ups will find support and guidance from an esteemed panel of mentors- industry leaders and LUMS graduates who continue to keep the university’s ethos of “Learning Without Borders” alive by utilising their strong network to connect start-ups with relevant opportunities, often establishing a long-term relationship with ventures.
The programme will culminate with an Investor Summit, where early-stage venture investors will interact with the most promising start-ups. The top graduates will also be offered a three-month residency with participating venture capital firms entailing one-on-one mentorship to develop and further commercialise their ideas. They will also be referred to or nominated to other global programmes that can bring even greater value to their venture.
This is an invaluable opportunity for mission-driven entrepreneurs looking for the right experts to guide them on the journey of transformative disruption. The application deadline is March 28, 2021.