Peshawar: A US-based company named Tri Ri Asset Management (TRAM) is set to invest USD 100 million in the start-up industry of Khyber Pakhtunkhwa (KP), according to the details shared by a source on October 25.
As per the details, Provincial Minister for Science and Technology, Sports, and Youth Affairs Dr Najeebullah shared this information during a ceremony held at the Ghulam Ishaq Khan Institute of Engineering Sciences and Technology (GIKI). The event, organized by the Directorate General (DG) Science and Technology, marked the Science and Technology Award Ceremony, highlighting the Undergraduate Research Support, Master Studentship, and Networking of Hi-Tech Equipment Programme. TRAM Chief Investment Officer Asad Ali was present at the ceremony, along with various vice-chancellors/rectors from universities in KP.
During the ceremony, a tripartite Memorandum of Understanding was signed among GIKI Institute, Directorate General of Science and Technology, and KP Information Technology Board, establishing a venture capital fund for the development and growth of the startup industry in the region. Dr Najeebullah highlighted that this venture capital fund marked a significant milestone for KP, supporting individuals with entrepreneurial ideas through technological and financial interventions.
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