The Higher Education Commission (HEC) has announced the Innovator Seed Fund (ISF) 2022-23 in order to develop a culture of innovation and a startup ecosystem in Pakistan.
According to the details, the HEC will grant up to $35,000 in funding to 15 promising early-stage startups through the ISF 2022-23 initiative.
In addition, the program will function as a medium to bridge the gap between entrepreneurs and investors. This way, the entrepreneurs will have the opportunity to scale their businesses with their assistance.
Here is all you need to know about the ISF 2022-23:
- Be either a student, recent alumni, faculty member, or researcher of the HEC-recognized public or private institution.
- Have endorsement from one of the HEC-established business incubation centers (BICs) in the country.
- Have a Securities and Exchange Commission of Pakistan (SECP) registered business concern.
- Be willing to enter into a tri-party agreement with the startup, the BIC, and the HEC.
- Agriculture, Food Resources, and Agri-Tech.
- Banking, Microfinance, and FinTech.
- Creative, Digital Media, Arts, and Culture.
- Education and EdTech.
- E-commerce and Smart Retail.
- Emerging Technologies.
- Health Care and Health Tech.
- Housing, Construction, and Manufacturing.
- Sustainable Development, Climate, and Energy.
- Transportation and Logistics.
- Other sectors that have the potential for growth and impact.
How to Apply
Applicants can register themselves for the ISF 2022-23 initiative at HEC’s startup portal. It is worth mentioning here that the HEC will reject applications, which are not endorsed by the BIC within the given deadline. Moreover, applicants are urged to download ‘call for proposals guidelines’ from HEC’s website before applying.
The last date for application submission is 6 January 2023.