ISLAMABAD, Pakistan: Higher Education Commission (HEC) will establish National Science and Technology Park (NSTP) of worth Rs 3 billion to encourage knowledge creation at cutting edge technologies.
The park will be established at National University of Science and Technology (NUST) under Public-Private partnership to develop and organize human, social capital to compete in global economy.
Sources informed APP Wednesday that an amount of Rs 40 million would be issued in the current year for the initial work on the technology park.
The NUST would be responsible for conceptualization and implementation of the NSTP. The University will seek to establish the park with financial, operational and thought leadership support from federal and provincial government bodies, international development donors, private equity participants and venture capitalists.
International Association of Science Parks and Areas of Innovation (IASP), World Technological Association (WTA), and INSTP, had been contacted for technical support and they responded positively.
The persons having complete knowledge of Science and Technology, Science and Technology Forums, Multi National Companies, Research Parks, National and International universities would also be contacted from the plate from of National Science and Technology Park.
The NSTP will encompass an Entrepreneurship and Innovation Centre, R&D Centre, Science Centre, Technology Incubation Centre, Manufacturing Resource Centre, IT and Telecom Data Center and a Learning Academy that will provide Technical and Vocational expertise and Entrepreneurship and Leadership Training.
The technology park will host a Research Commercialization Center, University-Industry liaison nucleus, event management and recreational facilities.
Moreover, the park will have a distinctive Knowledge Brokering facility by means of which it will act as an Information intermediary to provide advice on selection of goods or services, business intelligence, or research data to interested parties.
It will build networks stretching far beyond the major institutions today to include a comprehensive knowledge ecosystem of entrepreneurs, venture capitalists, professors, students professionals (from various sectors) and under-privileged communities for mentoring and learning.
The NSTP will promote interaction between institutional elements including universities, research parks, large companies, venture funds etc and non-institutional elements like talent, bodies of knowledge and virtual communities to create job opportunities for the youth and link local assets to global and domestic markets generating value.