Ignite signs agreement for 8th incubation center in aerospace technologies.

ISLAMABAD -- Ignite has signed contract for launching its first vertical incubator in Aerospace Technologies in collaboration with Aviation City Pakistan.

The National Incubation Centers in Aerospace Technologies (NICAT) will be established at National Aerospace Science and Technology Park (NASTP), Rawalpindi, said a news release.

The Contract for establishment of NICAT was awarded to NETSOL Technologies Ltd. and signed by CEO Ignite, Asim Shahryar Husain, CEO ACPPL, Air Commodore Dr. Liaquat Ullah Iqbal SI(M), and CEO NETSOL, Salim Ghauri. NETSOL team, based in Lahore, participated virtually.

In his welcome address, Asim Shahryar, CEO Ignite stated that the global aviation industry is estimated to be around $3.5 trillion at present. Hence, 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 center 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 Commodore, Dr. Liaquatullah Iqbal, SI(M) revealed that ACPPL is establishing NASTP to promote, form and develop small to large sized aviation and space related enterprises, laboratories, and R and D centers at national...