KU to have Rs188mn ‘Technology Incubator and Industrial Park’

Karachi

The International Centre for Chemical and Biological Sciences (ICCBS) would soon be launching a 'Technology Incubator and Industrial Park (TIIP)' at its centre at the University of Karachi.

Bearing a cost of Rs188 million, the main objective of the incubation centre would be to develop quality incubation processes and pave way for high-tech business startups, the Director ICCBS, Professor Dr M Iqbal Choudhary mentioned while addressing a meeting held at Dr Panjwani Centre for Molecular Medicine and Drug Research, on Monday.  

He explained that the project aims to bridge the gap between universities and the industry in order to speed up the process of organised development work. He added that the incubation centre would also open many job opportunities for budding entrepreneurs, in turn boosting entrepreneurial culture in the country.

With 20,000 square feet being allocated for the project, the centre would offer start-up firms and priority would be given to those who would be catering to larger markets, have competitive advantage as well as have a sustainable business model and a thorough commitment to contribute to technology. Chauhdhry added that the firms should also contribute to technological advancement in the country via investing and ensure economic vitality of the city. He also said that the centre would offer numerous services including furnished offices, expertise as well as accommodation facilities among other services.