Karachi, Pakistan, 11 October 2021 – Accelerate Prosperity (AP) and the Aga Khan University (AKU) have launched Pakistan’s first National Health Incubator to support entrepreneurs grow new technology, innovation and services, and catalyse commercialisation in the country’s health sector.
AP and AKU ran a successful pilot health incubation programme last year, HealthVenture 2020. One start-up was amongst the top three businesses awarded grand prizes at the 2021 event hosted by PAKImpactInvest, an initiative of the Federal Ministry of Information Technology and Telecommunications and Ignite-National Technology Fund.
“The constant support, push and passion from ‘business coaches’ have driven our team to reach and exceed goals we did not think were possible. All in all, this experience has been truly invaluable and the Healthyabi team is so grateful to be a part of it,” said Rahim Anwar, Founder of Healthyabi.
The National Health Incubator will bring together all the essential elements of an incubation programme and play a vital role in facilitating the health entrepreneurs in tackling key challenges to start or grow their businesses. These cover: i) the Ideation Phase that focuses on innovation and product / service development by using design thinking approach; ii) Business Training and Advisory Services that helps entrepreneurs convert their solutions into a business proposition by developing a business model around their solutions; iii) Tailored Financing with flexible terms that helps entrepreneurs launch their businesses; iv) Post Financing Technical Assistance that extends continuous mentoring to entrepreneurs on governance and financial management, and helps them establish market linkages in the industry; v) Opportunities for raising External Investments; and vi) Co-Working Spaces that allow entrepreneurs to use it as their office spaces for a year from the time they are selected for incubation and attend all phases of incubation in person or virtually.
The overall objective of the Accelerate Prosperity (AP) initiative is to promote entrepreneurship and the creation of sustainable Small and Growing Businesses (SGBs), with a focus on youth and women in fragile contexts. Its mandate is to facilitate creation of Small and Growing Businesses (SGB), which are “commercially viable businesses with a potential to create between 5 to 250 jobs”.
This is a fit for purpose initiative undertaken by the Aga Khan Foundation and Industrial Promotion Services of the Aga Khan Fund for Economic Development. AP complements broader economic-related programmes of the Aga Khan Development Network (AKDN) and draws significantly on technical expertise from other AKDN institutions, whilst coordinating efforts with other partners.
THE AGA KHAN UNIVERSITY
The Aga Khan University is a pioneering institution of higher education whose mission is to improve the quality of life in the developing world and beyond, through world-class teaching, research and healthcare delivery. AKU educates students for local and global leadership from campuses and teaching hospitals in six countries, primarily in Asia and Africa. It generates new knowledge to solve problems that affect millions of people, especially the most vulnerable. The University is a private, not-for-profit institution and an agency of the Aga Khan Development Network.
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Anila Shaheen at email@example.com