LAHORE - The role of entrepreneurship and an entrepreneurial culture in economic and social development has become increasingly apparent as it greatly contributed to economic development. With the objective to promote entrepreneurial culture in Pakistan, recently Centre for Entrepreneurial Development, IBA Karachi and GIFT University Gujranwala signed a Memorandum of Understanding, says a press release.
The main purpose of this MoU was to establish a strong liaison and collaboration between GIFT and IBA. The parties have agreed to work jointly for the promotion of entrepreneurship in the region. 
For developing entrepreneurial culture, two institutions have agreed to jointly establish a Centre for Entrepreneurship Development at GIFT University. This Centre will work for the enhancement of entrepreneurship activities in the area. It will accelerate culture of entrepreneurship amongst students, youth and public at large. The students will carry out research for collection and dissemination of information required for supporting start up ventures. The centre will provide technical and professional help and advice for nurturing new enterprises. Awareness sessions, seminars and training programmes will be conducted as it fosters the entrepreneurship and builds capacity of the SMEs. Through synergistic collaborations of academia, industry and government institutions, the spirit of entrepreneurship will be enhanced.
Rector GIFT University Dr Iqbal Tahir and Dr Ishrat Hussain Director IBA had signed this MoU. Nadeem Mustafa from GIFT and Dr Shahid Quershi from CED IBA were also present at this ceremony. This MoU will enhance the relationship between GIFT and IBA and students learning will be improved.