NIC Quetta – The Foundation is a 4-6 months long, intense, business incubation and acceleration program offered at the National Incubation Center Quetta to the most promising startups scouted from all across Balochistan and beyond, and scrutinized by the Foundation Council. Only the best startups led by passionate founders pursuing a sustainable, high-growth or high-impact venture make it to the program.
The Foundation takes away most administrative hassles so that founders can focus on developing their ventures. Mutually agreed upon milestones are used to gauge startup development throughout the incubation/acceleration cycle and successful ventures are showcased at an investor conference upon graduation. The Foundation also offers a non-resident acceleration program for founders of existing, young companies to avail its mentoring and investment networking platform.
The Foundation offers the following to the startups:
- Up to 6 months of access to co-working office facility at BUITEMS
- 24×7 utilities including power, internet and phone
- Shared access to IT and administrative infrastructure & resources
- State of the art video conferencing system
- Access to the world-class faculty of LUMS and BUITEMS
- Continuous support from the world-class management of NIC Quetta
- Marketing and PR support from NIC
- Regular mentoring and advice from seasoned leaders visiting from Lahore and other parts of the country
- Access to investors at the Startup Summit
- Be a part of the first and only incubation center in Balochistan, BUITEMS partners and collaborators
- BUITEMS 6000+ alumni working in 400 national and international organizations and strong linkages with local community organizations to ensure maximum coverage; and
- Access to BUITEMS labs and ICT infrastructure including, PCB Lab; Electronics Lab; Electric Machine Lab; Control Automation and Robotic Lab (EE); Communication System Lab; Power System Lab; Advanced Telecommunications Lab and Digital Systems Lab, Textile engineering lab.
- Access to LUMS Resident Venture Capital Funds.
Even though the startup founders do not have to pay for any of these services from out of their pockets, they will need to part with equity/shares in the company. The equity ranges from 2.5% to 5% depending on the services availed as depicted below.
ACCELERATION 2.5% EQUITY
Startups can be a part of our non-resident acceleration program which only offers access to NIC’s mentoring sessions, talks, some marketing/PR support and pitching rights at the Startup Summit. This program is for startups at later stages of growth. Most of the startups selected for acceleration are Post Revenue, Have their business models figured out and executed and are looking to take their businesses to next level.
Induction in acceleration is also subject to evaluation of your business.
INCUBATION 5% EQUITY
Everything listed above, is offered for resident incubation program including 24×7 access to The Foundation co-working space and other BUITEMS facilities and services.