NIC is working on developing partnerships with real estate investors to create quickly configurable, adaptive, subsidized, co-working office centers around LUMS which are envisioned to serve as a bridge platform for the graduates of The Foundation until the companies start generating positive cashflows or raise funding and can afford independent offices.
The Plug ‘N’ Play centers will offer an escalating ‘per head’ rent scale to start-ups. The economies of scale and common use afforded by co-locating companies at these centers allow for higher rent subsidy to smaller companies and lower to the larger ones. As the companies grow in head count, the rent increases to encourage more mature companies to move out and make room for younger start-ups.
Once these centers are up and running, the start-ups can move in within 48 hours of applying to the center if approved, and start using office furniture, utilities, meeting rooms, cafeterias, data centers, receptionist, security guards, office boys, power backup, etc – everything that usually takes months to source and setup if done independently by each startup.
NIC will hold mentoring sessions at the PNP Centers and invite guest speakers periodically. The startups located at these Plug 'N' Play Centers can join the acceleration program at The Foundation. A network of Plug ‘N’ Play Centers with LUMS at their epicenter is intended to gradually build into an innovation and entrepreneurial hub attracting and producing more and more entrepreneurs.Contact us for more information