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Published date

Monday, November 14, 2022

NETSOL signs agreement with the National Incubation Centre for Aerospace Technologies

CALABASAS, Calif., Nov. 14, 2022 (GLOBE NEWSWIRE) - NETSOL Technologies, Inc. (Nasdaq: NTWK), a global business services and enterprise application solutions provider, has announced a contract signing with the National Incubation Center for Aerospace Technologies (NICAT). NICAT is a project funded by Ignite with the support of the Aviation City Pakistan Private Limited (ACPPL) to initiate, build and run a startup incubator focused on aerospace and high-tech startups across Pakistan.

NETSOL’s incubation centre, NSPIRE, provides a state-of-the-art platform and space for budding entrepreneurs to establish their start-up businesses in Pakistan. Following this contract, each year NETSOL will incubate startups and assist them in scaling their businesses with the support of Ignite and ACPPL. The total contract value for the agreement signed is PKR 968 million.

NICAT is located at the National Aerospace Science and Technology Park (NASTP), situated at Old Chaklala Airport in Rawalpindi, Pakistan. NASTP is an integral project of Aviation City Pakistan, being developed as Pakistan's first aerospace cluster and smart city around PAC Kamra and PAF Base Minhas.

About NETSOL Technologies

NETSOL Technologies, Inc. (Nasdaq: NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global leasing and finance industry. The Company’s suite of applications is backed by 40 years of domain expertise and supported by a committed team of more than 1750 professionals placed in eight strategically located support and delivery centers throughout the world. NFS, LeasePak, LeaseSoft or NFS Ascent – help companies transform their Finance and Leasing operations, providing a fully automated asset-based finance solution covering the complete leasing and finance lifecycle.


The National Incubation Center for Aerospace Technologies (NICAT) is an aerospace technologies entrepreneur development platform funded by Ignite with the objective of accelerating the growth and success of aerospace entrepreneurship.

Forward-Looking Statements

This press release may contain forward-looking statements relating to the development of the Company's products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words “expects,” “anticipates,” variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.

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