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A memorandum of Agreement between University of Wah (UW), International Islamic University, Islamabad (IIUI) and COMSATS, Islamabad (CUI) was signed at the new campus of IIUI on Tuesday 28 Dec 2021 under which it has been agreed that a consortium shall be made to establish a Business Incubation Centre (BIC) at UW.
Directorate of ORIC-UW has submitted for a grant of Rs 23 Million to HEC for the establishment of BIC in collaboration with IIUI and CUI at UW.
The IIUI will be providing a lead consultancy as part of the consortium for the development and capacity building of BIC at UW, setting up an incubation center with the startup of 6 to 10 companies and incubation of several research related commercial products.
In this consortium, CUI under this agreement shall provide support to UW for development of strategic and sustainability plan. CUI shall also support for communications and marketing and Industry / startup connect for BIC at UW.
In the signing ceremony at IIUI’s new campus, Prof. Dr. Jameel un Nabi, Vice Chancellor UW, Dr. Hathal Homoud Alotaibi, President IIUI and Dr. Sajid Madni, Registrar CUI signed the agreement. The event was also participated by Prof. Dr. Zulfiqar Ahmad, Director ORIC/BIC UW, Dr. Ahmed Shuja Syed, Vice President Research & Enterprise and Engr. Muhammad Ahsen Mirza, Director BIC-IIUI.
All three parties agreed to cooperate for establishing of BIC at UW sharing resources, training, capacity building and dissemination of knowledge and information. It has also been agreed to establish a collaborative entrepreneurship club for all three institutes for conducting Entrepreneurial Workshops, mentorship sessions, business plan competitions/ hackathons as well as startup challenge/ showcasing and investor connect events.
Vice Chancellor-UW said that there are a lot of opportunities that can be utilized through joint ventures between all universities. He hailed IIUI for its services to the society. Dr. Ahmed Shuja Syed also gave a detailed briefing on the occasion about university’s vision, recent strategic plan and faculties of the universities. Prof. Dr. Zulfiqar Ahmad highlighted the efforts and usefulness of forming the consortium and foresightedness of incubating the commercial products. Earlier, Engr. Muhammad Ahsen Mirza, Director BIC-IIUI apprised of the objectives and scope of the consortium.
