ISLAMABAD:

HEC, IST sign MoU for promoting entrepreneurship among youth

The Research and Development Division, Higher Education Commission (HEC) of Pakistan and the Institute of Space Technology (IST) have signed an MoU for rolling out "Start and Improve Your Business" Module in Pakistan. Prof. Dr. Tariq Mahmood, Adviser (R&D), HEC and Dr. Zafar M.Khan, Director General, Office of Research, Innovation and Commercialization (ORIC), IST signed the agreement at HEC Secretariat, said a press release issued on Friday. Fostering entrepreneurship for men and women is vital not only for Pakistan's economic growth but also for ripping utmost benefits from our bulging youth population that is approximately 60 percent of the total population.

As an effort to enable the universities to play their part not just as degree awarding institutions but for socio-economic growth, HEC, in collaboration with ILO is conducting a series of capacity building programmes for Business Development Service Provider staff of 10 universities.

As per this MoU, IST officers, after having been trained as master trainers, will cascade the training on "Generate Your business Idea", "Start Your Business" and "Improve your Business" modules for graduates, potential entrepreneurs and nascent startups.

It is expected that each training cycle will result in at least 10-12 doable business plans and establishment of 57 micro, small and medium size enterprises. Training of entrepreneurs will be conducted in universities' own training venues, with technical guidance from ILO and HEC. Integrating business or entrepreneurship education with conventional discipline of teaching will result into cultivating a culture of entrepreneurship in youth and will enable the aspirant entrepreneurs to launch successful businesses.