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Facebook Innovation Lab Pakistan to boost tech transformation in country

02:12 PM | 3 Apr, 2019
Facebook Innovation Lab Pakistan to boost tech transformation in country
LAHORE - Facebook and Pakistan's Ministry of Information Technology along with the National Technology Fund (IGNITE) launched the first Facebook Innovation Lab located in the National Incubation Centre (NIC) at the Lahore University of Management Sciences (LUMS).

The launch event, held on Wednesday, was attended by several thought leaders from across the world who came together and debated on issues such as women and technology; the impact that VR has on social good and impactful ways to harness technology for social good.

The Facebook Innovation Lab Pakistan is the first innovation lab launched by Facebook in Pakistan. It will focus on providing infrastructure access to developers, entrepreneurs and community groups enabling them to network, train and grow their expertise. It will also help developers build products and applications using emerging technology like Virtual Reality (VR).



The Lab will give start-ups the infrastructure and the access they need to refine and scale their business models so they can succeed in Pakistan and scale internationally. The Lab not only provides a showcase of the latest technology, but participants will be matched with mentors, as well as connect with Facebook's global and exclusive experts, industry leaders, and specialises in product innovation, business growth, and data protection. Participants will be able to access FbStart, a global programme designed to help start-ups build and grow their businesses. Finally, participants will be encouraged to connect and support other developers and entrepreneurs through Developer Circles, a community-driven programme for developer collaboration.



Facebook Innovation Lab Pakistan also aims at encouraging South Asia’s spirit of entrepreneurship and start-up growth. In addition, the Lab will also host initiatives such as housing community events and workshops and providing pieces of training for start-ups. A key feature of the Lab is that it welcomes start-ups and entrepreneurs based in Pakistan who would like to deep dive into the emerging technology space.

“We are proud to launch Facebook Innovation Lab as a part of our long term commitment to support innovation and the developer community in Pakistan. Facebook is committed to building an impactful community in Pakistan and we believe it is important to support businesses, start-ups and the individuals who are driving innovation to grow and succeed. We are confident that through our partnership with the Ministry of Information Technology and Telecom, National Incubation Centre (NIC) Lahore, Ignite and LUMS, the Facebook Innovation Lab will not only be a unique training and innovation centre but will support a vibrant and transformative technology community in the country,” said Jason Lin, Programme Manager, Partnerships at Facebook.

Yusuf Hussain, CEO Ignite said, “Augmented Reality (AR), Virtual Reality (VR) and Artificial Intelligence are rapidly expanding and will be major sectors of the future. Ignite's the partnership with Facebook, one of the world's leading AR/VR development platforms, will help launch this crucial 4IR technology in Pakistan in a big way.”

Expressing his pride at the establishment of the Lab at NIC, LUMS Vice Chancellor, Dr Arshad Ahmad said, “Innovation is the backbone of cutting edge research and quality teaching at LUMS. The Facebook Innovation Lab Pakistan provides leverage to our core offerings and enables us to achieve another level of training and mentorship – it promises to create social capital amongst young entrepreneurs that will drive their ideas with no boundaries.”

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan Today - Pakistani rupee to Dollar, Euro, Pound, Dirham, and Riyal - 7 May 2024

Pakistani rupee rates against US Dollar and other currencies on May 7, 2024 Tuesday in open market.

USD to PKR rate today

US dollar was being quoted at 277.4 for buying and 280.4 for selling.

Euro stands at 295.7 for buying and 298.65 for selling while British Pound rate is 345 for buying, and 348.5 for selling.

UAE Dirham AED was at 75.05 and Saudi Riyal's comes down to 73.25.

Today’s currency exchange rates in Pakistan - 7 May 2024

Source: Forex Association of Pakistan. (last update 08:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.4 280.4
Euro EUR 295.7 298.65
UK Pound Sterling GBP 345 348.5
U.A.E Dirham AED 75.05 75.8
Saudi Riyal SAR 73.25 74
Australian Dollar AUD 180 182
Bahrain Dinar BHD 739.99 747.99
Canadian Dollar CAD 203 205
China Yuan CNY 38.43 38.83
Danish Krone DKK 40.16 40.56
Hong Kong Dollar HKD 35.61 35.96
Indian Rupee INR 3.34 3.45
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 905.3 914.3
Malaysian Ringgit MYR 58.71 59.31
New Zealand Dollar NZD 167.23 169.23
Norwegians Krone NOK 25.57 25.87
Omani Riyal OMR 722.7 730.7
Qatari Riyal QAR 76.44 77.14
Singapore Dollar SGD 204.65 206.65
Swedish Korona SEK 25.79 26.09
Swiss Franc CHF 307.34 309.84
Thai Bhat THB 7.56 7.71

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