National Innovation Centers on FinTech, IoT and Robotics to be launched across Pakistan

National ICT R&D on approvals from Board of Directors is now ready to accept proposals for FinTech, IoT and Robotics Innovation Centers. The National Innovation Centers will aim at inculcating a spirit of research, innovation, and embrace of latest technology trends prevalent in the developed countries.

Expected to be the flag-bearers for growth of digital services, these Innovation Centers are expected to become a force in making Pakistan a digitally literate country. Each of the centers will provide access to top-notch infrastructure, equipment, and resources for startups, students, and industries seeking to devise innovative products. These centers will also facilitate the commercialization of developed products and solutions through national and international collaborations.

Minister for IT, Ms. Anusha Rahman mentioned,

“Pakistan has a huge potential for the growth of Digital Economy on the heels of phenomenal penetration of internet coupled with enabling ecosystem for Digital Entrepreneurship. It is a driver of innovation, competition and growth and posits immense potential for entrepreneurship. Integrating digital technologies in key fabric of economy will be the key determinant of future growth.

Evolving Digital trends such as IoT, TechFin, and Robotics are radically transforming the business landscape, redrawing nature of work, and reshaping the boundaries of enterprises. Pakistan’s Digital Landscape is ripe to tap into this sea of opportunities. Our Government is fully determined to provide an enabling environment through these centers of Excellence to spur innovation in business models, business networking, and transfer of knowledge and access to international markets for Job Creation through Digital Entrepreneurship as realization of our vision for a Digital Pakistan”

Minister further stated, “Currently TechFin companies find it difficult to test their products as banks and other financial institutions are understandably unwilling to provide them access to their proprietary, secure networks. By providing access to such networks and simulators the National Tech Fin Innovation Center, will enable startups to prototype and test their products thereby surging innovation in the financial sector and promoting financial inclusion.”

These centers will be yet another milestone for the Company under the auspices of Ministry of Information Technology & Telecommunications, which is committed to significantly enhance the ICT research, development, and commercialization in the country.