ISLAMABAD   : Business Incubation Centre of NUML and IdeaGist on Thursday signed an accord to enhance collaboration for developing a sustainable start-up ecosystem in the country through connectivity, awareness and capacity building.

The memorandum of understanding was signed between the world largest digital incubator, ecosystem connecter and exclusive digital partner of the PM’s Start-up Pakistan Programme (IdeaGist) and Business Incubation Centre of National University of Modern Languages for the period of 3 years here at NUML.

IdeaGist founder Hassan Syed said that his firm was committed to the PM’s vision of entrepreneurship and was investing Rs8 billion in developing start-up incubators in 190 universities, 300 technical colleges, and 100 top seminaries. IdeaGist will help connect incubatees, mentors, trainers and venture capitalists from across the globe with BICON under virtual incubation partnership, he said.

Both the institutions would help each other set up incubators in the national universities in a bid to shift job-centric academic orientation towards society-led innovative exploration.

In this collaboration, they said, the IdeaGist would offer digital and programme management services, while the NUML would offer incubation manager and management trainings during which the required knowledge would be shared with potential and new incubators.

The BICON will develop, maintain and document best practices for incubator operations in the country, they added.  As per agreement, BICON and IdeaGist will also collaborate to promote Pakistan incubation network for strengthening national entrepreneurial ecosystem in the country.

BICON will prepare manual for incubators and curriculum for incubates and help registered incubates of the IdeaGist in company registration, legal aid, accounts, taxation, marketing and other business development activities on commercial basis.  Sources said that the parties will also jointly make efforts to seek local and international grants, projects, assignments and business development opportunities. Hassan Sayed said that in pursuance of the PM’s start up programme, his organization was focusing to promote and apply the emerging technology through various business ventures.

He announced to launch a fast-track programme on those emerging technologies.

Under this partnership with NUML, we will be offering incubation management training to universities, colleges, and madrasas staff on how to help students with their startups and how to manage a financially sustainable incubation programme.

Hassan said that emerging technologies included 3D printing, artificial intelligence, intelligent vehicles, smart robots, block chain internet of things and augmented reality.