ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) and National Incubation Centre for Aerospace Technologies (NICAT) signed Memorandum of Understanding to establish collaboration to promote youth innovation and entrepreneurship programmes.

MoU was signed during visit of Ahsan Zafar Bakhtawari, President, ICCI along with delegation to NICAT.

Abdul Rehman Siddiqui, Convener ICCI MoU Committee and Imran Jattala Project Director NICAT signed it, said press release issued here.

As per MoU, NICAT will support ICCI for incubation and entrepreneurship programmes and will collaborate with ICCI to engage Pakistan’s youth in innovation and entrepreneurship programmes to achieve Sustainable Development Goals.

NICAT will display ICCI logo on its promotional materials and websites as appropriate and subject to joint approval. Similarly, ICCI will work with NICAT in incubation and entrepreneurship programmes and startup challenges. ICCI will display NICAT logo on its promotional materials and websites as appropriate and subject to joint approval.

Ahsan Zafar Bakhtawari said that Pakistan needs innovators and entrepreneurs to drive economy and hoped that MoU would be helpful in realising such goals.

He said that market size of global aerospace and defense industry is $ 697 billion, with commercial aerospace at $ 298 billion. He said, therefore, Pakistan has great potential to capture better share of this huge market by developing pool of aerospace innovators and entrepreneurs. He lauded efforts of NICAT for empowering Pakistani talent.

Ayub Ghauri President National Incubation Centre highlighted contribution of his institution for economic transformation by bringing together investors, innovators, entrepreneurs, thought leaders and talented youth of Pakistan. He hoped that NICAT’s collaboration with ICCI would produce beneficial outcomes for economy.

Published in The Daily National Courier, August, 22 2023

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