9 Pakistani Universities to setup in-house incubation centers

Higher Education Commission of Pakistan (HEC) has signed an agreement with Promotion of Education in Pakistan Foundation (PEP) to setup Business Incubation Centers in 9 different universities of the country.

Owing to Plan9’s network partner program, a lot of universities have already set up small incubation centers in their universities from where the best business projects are short listed for formal incubation at Plan9.

Likewise, there is a handful of universities who have already set up independent incubation centers to involve more students in entrepreneurship.

With this agreement, HEC is going a step further to inculcate entrepreneurship in young lot of Pakistan. The incubation centers will teach, guide, and help students formalize and launch their projects. These centers will have “student entrepreneurship fund” to invest in high growth startups. Also, these centers will be actively looking for grants and aids from donors both local and international.

Under the agreement, PEP, HEC and the respective universities will add a sum of Rs. 2 Million to each business center. These business centers will be expected to fund at least 5 startups every year.

Anyone interested in incubation will have to go through a rigorous process of selection so as to select the best ventures and talent from the university pool. HEC will also stay involved with these universities by organizing talks, and workshops for students from time to time.

The following universities are on board for this:

1. National University of Sciences and Technology, Islamabad
2. Virtual University, Lahore
3. Pakistan Institute of Fashion and Design, Lahore
4. University of Agriculture, Faisalabad
5. Mehran University of Engineering and Technology
6. Jamshoro; University of Science and Technology, Bannu
7. Shah Abdul Latif University, Khairpur
8. Government College University, Faisalabad
9. COMSATS Institute of Information Technology, Islamabad

Source: Tribune