ISLAMABAD: Ignite Board of Directors, under the chairmanship of Chief Executive Officer (CEO) National Information Technology Board (NITB) Shabahat Ali Shah, approved a feasibility study for the establishment of an investment and support fund with the help of Planning Commission of Pakistan.
The fund, named Jiddat Investment and Support (JIS) fund, will aim to improve the access of early-stage venture capital and financing to start-ups. The fund ultimately aims to improve the entrepreneurial ecosystem of Pakistan. With the unbridled potential in innovation that Pakistan has to offer, the fund will help nurture and support projects to tap into that potential. The study will analyse the key factors, including economic, social, political, financial, legal, regulatory and other relevant conditions like supply and demand analysis, which may impact and contribute towards the successful operation of the fund.
The board gave its vote of confidence to National Grassroots ICT Research Initiative (NGIRI) Programme for the year 2019-20 to promote research and development and innovation at a grassroots level through provision of financial support to selected Final Year Projects (FYP) of undergraduate students, enrolled in ICT related disciplines of public and private sector institutions.
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