ISLAMABAD, Aug 21 (APP): The Islamabad Chamber of Commerce & Industry (ICCI) and the National Incubation Center for Aerospace Technologies (NICAT) have signed a Memorandum of Understanding to establish collaboration to promote youth innovation and entrepreneurship programmes.
The MoU was signed during a visit of Ahsan Zafar Bakhtawari, President, ICCI along with a delegation to NICAT.
Abdul Rehman Siddiqui, Convener, ICCI MoU Committee and Imran Jattala, Project Director NICAT signed it in a ceremony held at NICAT, said a press release issued here on Monday.
As per MoU, NICAT will support ICCI for incubation and entrepreneurship programs and will collaborate with ICCI to engage Pakistan’s youth in innovation and entrepreneurship programs to achieve Sustainable Development Goals (SDGs).
NICAT will display the ICCI logo on its promotional materials and websites as appropriate and subject to joint approval. Similarly, ICCI will work with NICAT in the incubation & entrepreneurship programs and startup challenges.
ICCI will display the NICAT logo on its promotional materials and websites as appropriate and subject to joint approval.
Speaking on the occasion, Ahsan Zafar Bakhtawari, said that Pakistan needs innovators and entrepreneurs to drive the economy and hoped that the MoU would be helpful in realizing such goals.
He said that the market size of the global aerospace and defense industry is US$697 billion, with commercial aerospace at $298 billion.
He said, therefore, Pakistan has great potential to capture a better share of this huge market by developing a pool of aerospace innovators and entrepreneurs. He lauded the efforts of NICAT for empowering Pakistani talent.
Ayub Ghauri, President, National Incubation Center for Aerospace Technologies highlighted the 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 the economy.