NIC Lahore - The Foundation is a 4-month long, intense, business incubation and acceleration program offered at the LUMS Center for Entrepreneurship to the most promising startups scouted from all across Pakistan and scrutinized by the Foundation Council. Only the best startups led by passionate founders pursuing a sustainable, high-growth or high-impact venture make it to the program.
The Foundation takes away most administrative hassles so that founders can focus on developing their ventures. Mutually agreed upon milestones are used to gauge startup development throughout the 4-month incubation/acceleration cycle and successful ventures are showcased at an investor conference upon graduation. The Foundation also offers a non-resident acceleration program for founders of existing, young companies to avail its mentoring and investment networking platform.
The Foundation hosts three batches of startups a year and offers the following:
Even though the startup founders do not have to pay for any of these services from out of their pockets, they will need to part with equity/shares in the company. The equity ranges from 2.5% to 7.5% depending on the services availed as depicted below.