The National Institute of Folk and Traditional Heritage (NIFTH) in collaboration with Echo Records has launched the country's first cultural incubation centre called ‘Merge Incubation Centre’ (MIC).
The objective is to encourage start-ups working in the cultural and creative industry along with performing arts to help them develop business models for economic empowerment. Lok Virsa Executive Director Talha Ali said the NIFTH’s vision is to help youth and use technology to serve heritage and culture for the economic development of the creative industry.
He maintained that MIC was fully equipped with state of the art infrastructure that includes audio, video recording studios, concert halls and amphitheatres. He said NIFTH, Lok-Virsa is an ideal set-up for the incubation of creative minds.
The roadmap to achieving a value chain of creative infrastructure will include incubation of start-ups, investment opportunities, content development, tech development, e-commerce and much more, he added.
Intending to connect the youth of Pakistan to the cultural heritage through performing arts, cultural literacy and economic empowerment, NIFTH has partnered with Echo Records, which is a platform covering the entire value chain of the creative industry, to carry out its mandate.
He said incubators were specially designed programmes to help young startups innovate and grow they usually provide workspaces, mentorship, education and access to investors for startups or sole entrepreneurs.
Adding he said these resources allow companies and ideas to take shape while operating at a lower cost during the early stages of business incubation, incubators require an application process to join and usually require a commitment for a specific amount of time.
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