Prime Minister Shehbaz Sharif unveiled the National Innovation Award Investor Connect as well as the Freelancer and Venture Capital Initiative.
PM launches Freelancers Initiative: At the PM’s Freelancer and Venture Capital Initiative and National Innovation Award Investor Connect launch event, the speakers emphasized the need to stretch the network of incubation centers around the nation by allocating the most funds possible while bearing in mind the future of the nation.
Despite the government’s financial constraints, he claimed that the Rs 2 billion allotted for venture capital was only “peanut” in light of the IT industry’s talent and significance.
“While touring the stalls, the prime minister was “taken aback” by several cutting-edge innovations, including the use of drones for agriculture, IT-driven medical systems, and the utilization of banana peels for various products.”
He claimed that in order to fully realise the youth’s enormous potential in information technology, which could also ensure the county’s economy, maximum financial and professional support was necessary.
The prime minister said, “I really salute all of you,” and singled out Sahar Munir, a Naushki girl, for her ideas and vision to advance the IT industry.
“While serving as Punjab chief minister, he opened a center at Arfa Karim Tower in 2009 and asserted that the network of incubation facilities should have been distributed throughout the nation about ten years earlier.”
“We must possess this undiscovered potential that exists throughout Pakistan. He urged hosting comparable innovation award ceremonies around the nation, saying it was our obligation to set up trainings and offer the most financing possible.
“He advocated boosting the financing for the IT endowment fund by billions per year to empower young people and encourage their research and development.”
“Prime Minister’s Initiatives for the IT Sector: Awards to Innovators and Focus on ‘Digital Pakistan'”
Prime Minister Shehbaz previously announced the initiatives and also presented awards to the top 10 recipients of the second round of the National Innovation Award. He instructed the creation of a coordinated mechanism and a policy framework for the IT sector, aiming for future cabinet approval to ensure that the interim administration could carry out the projects without any obstacles.
Regardless of which party forms the next government, he urged them to assist the IT industry, which, if supported over the next five years, could generate billions of dollars for the nation.
Syed Aminul Haq, the minister of information technology and telecommunications, stated in his speech that his department was coordinating and cooperating to carry out the prime minister’s objective of a “Digital Pakistan.”
He claimed that the ministry supported about 20 incubator facilities spread across the nation. He informed the audience that they were making efforts to increase the participation of women in IT start-ups because, over the previous five years, 1387 start-ups had 37% female founders.
Furthermore, He claimed that as a requirement for the development of IT, the IT ministry was working to improve connectivity. According to him, mobile users increased from 160 million to 195 million during his tenure as a minister, and broadband users increased from 70 million to 122 million.
“Second Phase of National Innovation Award: 50 Winners Connect with Investors”
According to Shaza Fatima Khawaja, the PM’s Special Assistant on Youth Affairs, the ceremony marked the second phase of the National Innovation Award, which featured 50 winners, and it connected them with investors so they could capitalise on their ideas.
She stated that the government had allocated 5 billion rupees for the IT industry, with 2 billion set aside for venture capital and 1 billion each for IT endowment funds and training. Moreover, she added that they had also designated Rs 200 million for the women-led business endeavor.
The event also featured the screening of a brief documentary on the first and second rounds of the PM National Innovation Awards, as well as testimonials from two prize winners who gave an overview of their initiatives and goals.