HEC and SMEDA Sign MoU to Promote Entrepreneurship and Innovation at Universities

The Higher Education Commission (HEC) and the Small and Medium Enterprises Development Authority (SMEDA) have signed a Memorandum of Understanding (MoU) to establish a strategic partnership for enhanced cooperation in promoting entrepreneurship, innovation, and incubation at Pakistani universities.

The Executive Director of the HEC, Dr. Shaista Sohail, and the CEO of the SMEDA, Hashim Raza, signed the MoU in a virtual ceremony.

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The HEC is successfully running two of its flagship programs – the Offices of Research, Innovation, and Commercialisation (ORICs) and the Business Incubation Centres (BICs) – extending services and facilitation to researchers, academicians, and students for research, innovation, commercialization, and incubation.

Through its recently approved National SME Policy Action Plan, the SMEDA aims to facilitate Pakistan’s universities in the fields of entrepreneurship and incubation.

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The MoU will enable the HEC and the SMEDA to work collectively in areas of mutual interest for effective resource mobilization and the achievement of aligned objectives.

The main areas of collaboration envisioned through the MoU include the facilitation and support of the Incubation Centers at universities through the organization of conferences and training programs, and by conducting mentoring and capacity building sessions for young and budding entrepreneurs at higher education institutions.