Ignite Approves Launch of New Funds for Pakistani Startups and Innovators

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Ignite Approves Launch of New Funds for Pakistani Startups and Innovators

The 91st meeting of the Board of Directors of the Ignite National Technology Fund authorized the yearly budget for 2022-23 as well as the management’s redesigned Research and Innovation Framework.

The suggested framework supports all stages of innovation, from research and development of breakthrough technologies’ scientific foundations to idea validation and demonstration of breakthrough technologies and innovations to fulfill real-world needs. Proposals will be assessed by a framework of high-level scientific panels comprised of industry and academic professionals.

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The ‘Challenge-driven Innovation Fund’ for tackling societal difficulties by using breakthrough technologies and the ‘Technology Transition Fund’ for translating research results into innovation opportunities are the two main mechanisms that give financial support.

Ignite will also create and launch an acceleration fund for early-stage startup pre-seed funding. Many early-stage firms will be able to get finance as a result of this. A competitive approach will be used to evaluate and select qualified startups. In addition, throughout the year, Ignite will host competitions in the form of hackathons on a variety of themes of interest, such as cleantech, cybersecurity, edtech, and so on. Ignite intends to start the application process for these programs in July 2022.

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Version 2.0 of Ignite’s famous Digiskills online training program for freelancers has just been released, and it contains five new courses in video editing and animation, data analytics and business intelligence, affiliate marketing, virtual assistant, and communication skills. The Digiskills program’s popularity can be gauged by the fact that online registrations for the second batch opened on June 1 and 250,000 registrations for 15 digiskills courses were completed in just five days by June 5.

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