The National Aerospace Science and Technology Park (NASTP) has been inaugurated in Rawalpindi. At the occasion National Incubation Centre for Aerospace Technologies (NICAT) was also inaugurated by former PM Shehbaz Sharif at the NASTP Alpha.
NICAT is on a mission to create thousands of jobs within 5 years. Imran Jattala, the project director of NICAT, while talking to the media said that through a meticulous biannual selection process, they select startups that hold immense potential.
In its inaugural March 2023 intake, NICAT inducted 27 startups working in aerospace, deep tech, health tech, and travel tech domains. “This collective effort resulted in generation of Rs. 186 million in revenue, creation of more than 239 jobs and committed investments totalling Rs.65 million. Five of these startups are led by women entrepreneurs. The next cohort is scheduled for September 1, 2023, focusing on driving job creation and innovation
Leading Turkish tech and defence company Baykar also participated in Pakistan’s aerospace tech park inauguration on August 4. Baykar Technology signed a cooperation agreement with NASTP for joint research and development (R&D) initiatives within the park.
The agreement was signed by Baykar’s chairman and chief technology officer (CTO) Selcuk Bayraktar, and Air Marshal Ghulam Abbas Ghumman, who is leading NASTP. The collaboration is expected to boost Pakistan’s aerospace and technology capabilities and deepens the strategic partnership between Pakistani and Turkish tech and defense firms.