We live in the 21st century and today’s problems are continuously changing. These changes have resulted in the importance of finding solutions to basic issues like health, education, transport and to large scale issues like climate change.
With technology, we have made significant progress on some fronts but many existing social challenges continue to grow in magnitude and complexity. Solving solutions to those social problems requires an entrepreneurial mindset.
An entrepreneurial mindset can help an individual to think bigger, move faster, dig deeper and make a more significant impact. People with such mindset can make data-driven strategies with decisions. They think outside the box and try multiple approaches. In other words, they won’t stick to one plan but would pivot their approach whenever and wherever required.
To inculcate such a mindset, Punjab Information Technology Board (PITB) launched Pakistan’s first incubator (Plan9) back in August 2012 and now it has expanded its incubation programs all across Pakistan under the National Expansion Plan of NICs. Backed and funded by the Federal Government, a total of thirteen incubation centers have been established across Pakistan that provide startups with resources and tools that help them develop an entrepreneurial mindset. The environment of these thirteen incubation center help them prepare for future business problems.
Since its inception, National Expansion Plan of NICs has received over 8000 startup applications, incubated over 400 startups, graduated over 250 startups who have generated over 600 million PKR in revenue and created approximately 8700 jobs by serving 330,000 customers.
The centers ensure that the incubated startups stay one step ahead of their competitors by implementing better business strategies and marketing plans which help them in the correct identification of target audience and customer base. The startups are provided with Free office space, Monthly stipend, Networking opportunities, Business Mentorship, Trainings and most importantly the startups are incubated on a zero equity model which means they are not required to payback anything. This enables them to think freely and develop the required mindset that helps them support and sustain the startup.
Out of the 13 incubation centers, one of the center is based in Lahore which has been highly successful in creating a positive impact and is achieving the primary objective of the project which is to encourage innovation, strengthen the entrepreneurial ecosystem of Pakistan and develop entrepreneurial mindset.
Lahore center is currently taking applications for its fourth cohort and the impact Lahore has created can be seen from the fact that the incubated startups from Lahore have earned more than PKR 15 million in total revenue by serving 34000 plus customers and given over 4000 direct and indirect jobs.
Along with the facilities given at the centers, the entrepreneurial mindset has also been developed with help of training sessions and workshops that are being regularly held at Lahore center. With the help of more than thirty sessions, startups have been able to get valuable knowledge about product development, marketing, product sustainability and other knowledge areas. These sessions have been conducted by experts who work for Amazon, Telenor, Airlift, Grocers and other companies.
Maheen Sami who is currently working at PITB Incubation Wing as a Program Manager says "It takes decades for any country to develop entrepreneurial mindset. But with the help of people and institutions such as incubators, accelerators and co-working spaces it has been possible for such an ecosystem to gradually develop in Pakistan. Other stakeholders like VC funds and regulatory bodies including SECP and SBP have also helped foster this mindset in Pakistan therefore it is a combined effort of multiple institutions and people to make this possible and National Expansion Plan of NICs, a project under Punjab IT Board is one such effort by the Government to help facilitate the startup ecosystem in Pakistan.”
After graduating thirty startups from three cohorts successfully, NEP NIC Lahore center is currently taking applications for new startups for the fourth cohort. Interested startups can apply online
An entrepreneurial mindset isn’t just an approach but it is an injection that can fuel new ventures for economic growth. Well known entrepreneurs always use this approach to look for opportunities and business ideas that can elevate the level of their businesses and solve the prevailing problems. In case of Pakistan, National Expansion Plan of NICs and the Lahore center is a perfect Launchpad to inculcate this mindset. Moreover, it is the true reflection of Government’s commitment to upskill and promote business activity and encourage youth of this country.