LAHORE: Punjab Information Technology Board (PITB) and Sweden-based Nutty Ventures AB have signed an MoU at Arfa Software Technology Park to collaborate to promote local startups.

According to MoU, PITB and Nutty Ventures AB will work together to increase exposure to Pakistani startups in Sweden, create tailored coaching opportunities for Pakistani startups, strengthen acceleration programs and build opportunities for international investors and venture capital funds for Pakistani startups.

The ceremony was chaired by Punjab’s Minister of Higher Education and Information Technology Raja Yassir Humayun Sarfraz and PITB President Azfar Manzoor. The Memorandum of Understanding was signed by PITB DG e-Governance Sajid Latif and Nutty Ventures AB’s strategic advisor Naim-ul-Abd on behalf of their respective organizations. Senior officials from both organizations including PITB Joint Director Hammad Bin and the head of Freelancing Wing Ahmad Islam Syan were present.

Speaking at the ceremony, Raja Yassir said, “The Punjab government sees technology as an engine of economic growth as ICT interventions open new borders every day, especially for freelancers and aspiring entrepreneurs. Our goal is to provide first-class coaching to startups so that they can compete internationally for visibility and the funding needed to accelerate growth. I value this partnership as it will provide exciting opportunities for our local startups and will further strengthen PITB’s existing entrepreneurship and freelance domain programs. “

PITB Chairman Azfar Manzoor said: “Pakistani startups have made their mark on the global arena, as evidenced by an increase of over 300 percent in funding raised by local startups in 2021.

In line with the government’s vision, PITB’s entrepreneurship and freelance programs not only facilitate the young people in Punjab through incubation and skills development programs, but also help them create the much-needed connections with foreign investors and venture capitalists. ” Nutty Ventures AB, which currently runs a Sweden-wide accelerator program, has extensive experience and networks in the Swedish startup, power and financing ecosystems.

“As we experience rapid changes in global trends in entrepreneurship ecosystems, we must eliminate traditional hierarchies and structures that are huge bottlenecks. Nutty Ventures will harness the power of global best practices to create meaningful impact for PITB-supported startups,” said Nutty Ventures ABs founder and CEO Mehkar Sheikh.

Mosque: Construction of the new Jamia Masjid began at Government College University (GCU) Lahore on Friday. GCU’s Rector Prof Dr Asghar Zaidi and a large number of teachers and staff were present at this occasion. Prof Zaidi spoke at the time that the construction of a new mosque had become very crucial for the university. He said GCU students, teachers and staff had donated more than Rs 10 million for the construction of the mosque, while a large number of Old Ravians also wanted to take part in this sacred cause. Prof Zaidi revealed that the famous industrialist Anwar Ahmad Khan had promised to supply all the glass to the entire mosque. VC said the new mosque would also house a library, reading room, separate prayer room for female students and a conference room. The VC formed a committee to oversee all issues related to the construction of the mosque.