Pakistan, Germany sign MoU to empower startups

Delegations of the German Emirati Joint Council for Industry & Commerce (AHK) and German Consulate Karachi visited the National Incubation Centre (NIC) Karachi to observe advancements in business innovation and start-up entrepreneurship ecosystem of Pakistan.

During the visit, LMKT has signed a Memorandum of Understanding (MOU) with the German Emirati Joint Council for Industry & Commerce (AHK) to explore opportunities for collaboration between the startup and tech communities of both countries.

The signing ceremony took place at National Incubation Center Karachi (NIC Karachi), where a delegation from the German Consulate Karachi, led by His Excellency, Consul General of the Federal Republic of Germany, Dr. Rüdiger Lotz, was present to witness the signing of the MOU.

Under the MOU, LMKT and AHK will collaborate on various activities, including the Startup Germany Tour program, which aims to promote Germany as a startup destination for Pakistani startups and explore possibilities of conducting a startup hackathon in partnership with German companies and diplomatic missions in both countries.

The parties would also work on creating options for connecting startups from both countries through an event on the sidelines of Tech and startup events in the UAE such as GITEX.

The German consul general also expressed his delight at the MoU signing. “We are delighted to have the opportunity to visit the NIC Karachi multiple times in such a short time, and to witness firsthand the incredible energy and innovation of the start-ups and entrepreneurs working here. We look forward to deepening our partnerships and exploring new opportunities for collaboration in the future,” he stated.

It is pertinent to mention here that the signing of the MOU is a significant step forward in building stronger ties between the startup ecosystems of both countries.