HEC Approves Rs. 2.95 Million for Innovative Entrepreneurial Ventures

The Higher Education Commission (HEC) of Pakistan has established a new committee for Innovation Steering which will prove to be the force behind the newly approved HEC Technology Funds. The Funds amount to Rs 2.95 million, after government approval.

The committee’s aim is to increase innovation and entrepreneurial activities in universities to help increase job opportunities and ensure Pakistan’s economic empowerment.

An HEC official said that some institutions and individuals have displayed outstanding performances in recent years. Despite that, there is still a dire need to increase faculty sizes in universities and to encourage students and researchers to come up with innovative ideas and entrepreneurial efforts.

Imtiaz Rastghar has been chosen as the Chairman of the Innovation Steering Committee, said the HEC official. He said the committee has decided to review and develop improved parameters to assess Office of Research Innovation and Commercialization (ORIC), establish a new startup academy and take steps to promote entrepreneurship amongst women.

Executive Director HEC, Dr Arshad Ali, said that HEC will improve upon the progress made by ORIC so far in order to create a better information and knowledge economy in Pakistan. He showed concern over the increasing population of youth in the country as this would cause an even greater shortage of universities and educational institutes. Dr Arshad said that new universities will need to set up to cope with the increasing demand.

“These graduates are a national asset and we need to work together to develop a roadmap linking our youth to the solution of rising national requirements”, he said. Dr Arshad added that HEC is looking forward to increasing the positive role of the business community to help straighten Pakistan’s economy.

 

He is the Editor at ProPakistani. Reach him at [email protected]