First Gilgit-Baltistan incubation centre (IC) was inaugurated by ex-PM on 30 April 2021 at Karakorum International University. This centre is where transitory and facilitative assistance is given to entrepreneurs and start-ups. It is geared toward business development, innovation and technology. Revenue of Rs. 3.1 Million & 87 jobs created.
An Incubation Centre (IC) is where an entrepreneur planning to set up a business in any given domain gets a mentor who will guide, help and assist him throughout the process. At Incubation Centre the mentor does deep and detailed research on the business you are planning to start and then comes up with some effective strategies which can be helpful in that along with different challenges which will come your way along with the potential solutions for the same. The first cohort of 15 startups was selected by a joint team of SCO, KIU and PITB. Also planned in Skardu, Gahkuch, Kotli, Muzaffarabad, Mirpur and Rawalakot.