Agreement signed to promote innovation sector in Pakistan

KARACHI: The Special Technology Zone Authority (STZA) and Khadim Ali Shah Bukhari (KASB) Institute of Technology (KASBIT) have signed a memorandum of understanding (MoU) to develop a Special Technology Zone for the provision of a high-tech business environment to companies, including startups, SMEs and multinationals so that the innovation sector can be promoted in Pakistan, a statement said.

Speaking at the launching ceremony, Special Technology Zone Authority chairman Amer Hashmi said: “Pakistan is at a turning point in its technological history. Pakistani startups are now attracting international funding. It is a source of immense pride for us. It is our national duty to provide these brilliant minds with a conducive environment that facilitates their work and boost IT exports of Pakistan.”

“[The] KASB Altitude Special Technology Zone is our joint effort with [the] KASB Group to provide them the ease of doing business,” he said.

The KASB Institute of Technology Private Limited has taken the initiative to construct KASB Altitude Special Technology Zone, which is a 35 floors building located in Clifton, Karachi with modern high-tech technological infrastructure providing futuristic entrepreneurship opportunities in Pakistan. It would be the first zone developed in Karachi for the purpose.

“[The] KASB Altitude Special Technology Zone’s most significant attribute will be its cutting-edge R&D labs and certified testing centres. At its completion, it will house 500+ technology firms from various sectors, sharing high performance computing and other facilities promoting high-tech industrial growth, creating job opportunities, up-skill the youth, and attract foreign direct investments (FDI) through the development of a knowledge ecosystem driven by research, innovation and collaboration.”

“This would also be supported by KASBIT to provide an educational ecosystem for developing HR for these companies. We are grateful to the Special Technology Zone Authority for supporting our vision,” KASB Group chairman Nasir Ali Shah Bukhari said.

The launch event was held at the KASB Altitude Special Technology Zone Clifton, Karachi and was attended by dignitaries from all sectors.