ISLAMABAD, Sept 24: Cubator 1ne, established by COMSATS Institute of Information Technology (CIIT) to promote the spirit of entrepreneurship among Pakistani youth, has become the country’s number one business incubation center among universities in just one year, creating 150 jobs and internships in the process.
Cubator 1ne was not the first business incubation center at a Pakistani university; two were already in existence for at least four years prior its launch in September 2014. While, the other incubation centers currently have a maximum of 18 business incubations at the moment, CIIT’s Cubator 1ne boasts of 23, without even including five that have already “graduated,’ i.e. successfully established themselves as profit making ventures in the market.
Among the five companies who have “graduated” from Cubator 1ne, one has successfully established itself as a local manufacturer of LED lights. Another successful business venture, called “Apni Bijli” has established itself as a provider of affordable renewable solar energy solutions.
Cubator 1ne is also planning to hold an exhibition to showcase businesses that are successfully being “hatched” in the 3rd week of October.