On Tuesday, Prime Minister Shehbaz Sharif launched the Freelancer and Venture Capital Initiative, along with the National Innovation Award Investor Connect. Speaking at the launching ceremony, he emphasized the need to expand the network of incubation centers across the country and allocate sufficient funding, considering the country’s future prospects.
The Prime Minister expressed his astonishment while visiting the stalls and witnessing the innovative projects presented by young entrepreneurs. These projects included drones for agricultural purposes, IT-led medical systems, and the utilization of banana peels for various products. He commended the youth for their vision and ideas in promoting the IT sector and lauded Sahar Munir, a young girl from Naushki, for her remarkable contributions.
Prime Minister Shehbaz highlighted that the network of incubation centers should have been established countrywide a decade ago. He recalled the creation of one such center at Arfa Karim Tower during his tenure as the Punjab Chief Minister. He emphasized the responsibility of providing maximum financial and professional support to the youth to unleash their immense potential in information technology, which would lead to the country’s prosperity.
He called for increased funding for the IT endowment fund to empower the youth and support their research and development efforts. The Prime Minister stressed the need to formulate a coordinated mechanism and policy framework for the IT sector, which would receive cabinet approval to ensure continuity in projects under the interim government.
Minister for IT and Telecommunications, Syed Aminul Haq, affirmed the ministry’s commitment to execute the Prime Minister’s vision of Digital Pakistan. The ministry is currently supporting around 20 incubation centers across the country and working to enhance women’s participation in IT start-ups.
The Special Assistant to PM on Youth Affairs, Shaza Fatima Khawaja, explained that the ceremony marked the second round of the National Innovation Award, with 50 winners being connected to investors to capitalize on their ideas. The government has allocated Rs 5 billion for the IT sector, including funds for venture capital, IT training, IT endowment, and women-led business ventures.
The event showcased a short documentary on two rounds of PM National Innovation Awards and featured testimonials from award winners who shared insights about their projects and vision for the future.