Boeing reports that there is demand for more than 43,500 new airplanes worth $7.2 trillion by 2040. Global Aerospace and defense industry market size is $697 billion annually, with commercial aerospace at $298 billion. Domestic flight in Pakistan costs $0.064 per mile whereas $0.049 per mile in the neighboring countries. Pakistan has about 0.03 aircraft seats per person, in comparison with India (0.16), Nepal (0.11), and Bangladesh (0.04). The scale of opportunity for Pakistan in Aerospace & HighTech Manufacturing is unprecedented. Aerospace can solve complex problems faced by humanity and can transform mobility, healthcare, agriculture, and emergency services. Aerospace & HighTech Manufacturing sectors can become the largest export sectors of Pakistan.
Innovation and entrepreneurship are needed to transform economies — to build the Next Silicon Valley — the most incredible creation of wealth in human history. Through Innovation and entrepreneurship, China has lifted 800M+ people out of poverty in the last 4 decades. China is building 50,000+ startups each month. Ignite NTF funds startups and innovative projects to stimulate a vibrant startup ecosystem in Pakistan.
National Incubation Center for Aerospace Technologies (NICAT) is a joint venture between Ignite NTF, Ministry of IT, and the National Aerospace Science and Technology Park (NASTP). Pakistan’s First Ever Aerospace Incubation Center NICAT has opened the doors for First Startup Cohort. Startups from...
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