Rs 2.95 million approved for HEC’s Technology Funds

ISLAMABAD, Pakistan: The Higher Education Commission (HEC) has established an Innovation Steering Committee which will serve as a backbone to newly approved HEC’s Technology Funds, amounting Rs 2.95 million approved by the government.

The committee has been established aims at to further strengthen innovation and entrepreneurship activities in universities that would help create job opportunities and ensure country’s economic empowerment.

An official of the HEC told the state-run news agency in Islamabad on Tuesday that some institutions and individuals have performed very well in the recent years, yet there is dire need to encourage maximum number of faculty members, researchers and students to embrace innovative and entrepreneurial endeavors.

He said that Imtiaz Rastghar has been selected as Chairman of the Innovation Steering Committee.

He said that the committee has decided to review and further develop parameters to assess Office of Research Innovation and Commercialization (ORIC), develop a start-up academy as well as take steps to encourage female entrepreneurs.

Executive Director, Dr Arshad Ali said that HEC will improve progress of ORIC to move towards creating a knowledge economy. He showed his concern on increase in youth population and establishment of new universities.

“These graduates are a national asset and we need to work together to develop a road map linking our youth to the solution of rising national requirements”, he said.

Dr Arshad said that HEC looks forward to the positive role of business community for strengthening country’s economy.