Friday, December 2, 2022

Setting up of NICAT: contract awarded to NETSOL Technologies - Business Recorder

Last updated Friday, November 11, 2022 20:05 ET , Source: TopWireNews

ISLAMABAD: Ignite signed a contract for launching its first vertical incubator in Aerospace Technologies in collaboration with Aviation City Pakistan (Pvt) Ltd.
The National Incubation Centres in Aerospace Technologies (NICAT) will be established at the National Aerospace Science and Technology Park (NASTP), Rawalpindi.
The contract for the establishment of the NICAT was awarded to NETSOL Technologies Ltd and signed by CEO Ignite Asim Shahryar Husain, CEO ACPPL Air Commodore Dr Liaquatullah Iqbal, and CEO NETSOL Salim Ghauri.
The NETSOL team, based in Lahore, participated virtually due to the prevailing situation in the twin cities.
Asim Shahryar, CEO Ignite stated that the global aviation industry is estimated to be around $3.5 trillion at present. Hence, the Ministry of IT, and Ignite have planned this new incubator so that Pakistan can unleash its potential in aerospace technologies and get its share in this huge market. The new incubator in Aerospace Technologies will be Ignite’s eighth incubation centre with a focus on nurturing high-tech startups related to aerospace and engineering. He said that the engineering facilities available at NASTP will enable our startups to develop hardware in addition to software for aerospace systems.
Speaking on the occasion, CEO ACPPL Air Commo-dore Dr Liaquatullah Iqbal revealed that the ACPPL is establishing NASTP to promote, form and develop small to large-sized aviation and space-related enterprises, laboratories, and R&D...

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