Pakistan Allocates Rs. 352.5 Million for Tech Innovation Programs

Pakistan has set aside Rs. 352.5 million for two technology innovation programs, SPARK and ELEVATE, during the fiscal year 2026 to 2027. The financial support aims to bolster technology-driven projects and bolster the nation's innovation framework. This allocation, announced by the Ministry of Information Technology and Telecommunication to the National Assembly, is sourced from the Research and Development Fund and does not fall under the federal budget or the Public Sector Development Programme (PSDP).

The SPARK and ELEVATE programs offer grants to eligible applicants working on innovative projects, with funding caps set according to the scale and requirements of each initiative. SPARK projects can secure grants up to Rs. 100 million, while ELEVATE supports up to Rs. 200 million per project, catering to more substantial financial demands. Annually, the programs can award a maximum of 30 grants each. Supported projects are projected to have an implementation period of 18 months.

The ministry's announcement also touched upon the Pakistan Venture Fund, an additional initiative with a $20 million funding pool. However, the Rs. 352.5 million allocated for SPARK and ELEVATE is specifically earmarked for the Research and Development Fund for the fiscal year 2026 to 2027, distinct from the Pakistan Venture Fund.