ISLAMABAD: The Higher Education Commission (HEC), Pakistan and Small and Medium Enterprises Development Authority (SMEDA) have signed a Memorandum of Understanding (MoU) to establish a strategic partnership for enhanced cooperation on promoting entrepreneurship, innovation and incubation at the Pakistani universities.
Dr. Shaista Sohail, Executive Director HEC and Mr. Hashim Raza, CEO SMEDA signed the MoU during a virtual ceremony.
HEC is successfully running two of its flagship programmes — Offices of Research, Innovation and Commercialisation (ORICs) and Business Incubation Centres (BICs), extending services and facilitation to researchers, academicians, and students for research, innovation, commercialisation and incubation.
Moreover, SMEDA, through its recently approved National SME Policy Action Plan, aims to facilitate the universities of Pakistan in the fields of entrepreneurship and incubation.
The MoU will enable HEC and SMEDA to work collectively on areas of mutual interest for effective resource mobilisation and achievement of aligned objectives.
The main areas of collaboration envisioned through the MoU include facilitation and support of Incubation Centers at Universities by organizing conferences and training programmes, and conducting mentoring and capacity building sessions for young and budding entrepreneurs at the higher education institutions.
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