UoK receives a grant of Rs. 1.5 mln for new incubation center

Karachi, November 25, 2019: The University of Karachi is set to receive a grant of Rs. 1.5 million for its newly-established Karachi University Business Incubation Center (KUBIC) aimed at promoting the startup culture in the university to create job opportunities for the youngsters.

The KU Vice-Chancellor Professor Dr Khalid Mahmood Iraqi, announced to allocate Rs1 million for the newly established Karachi University Business Incubation Center (KUBIC) whereas the CEO Dr Essa Laboratory and Diagnostic Center Professor Dr Farhan Essa announced to donate half a million for the KUBIC at the seminar on ‘lead, innovate, unraveling the power of entrepreneurship education’ held at the University of Karachi.

Besides this grant, the University of Karachi has joined hands with Transformation International Society and Organization of Pakistani Entrepreneurs of North America to provide maximum facilities to startups.

The stakeholders have decided that free of cost training program would be conducted to strengthen the skills of the students on a weekly basis and well-known market giants would hold those sessions.

The speakers of the event emphasize that entrepreneurship is the key to economic prosperity not for the individuals but also the country.

The KU VC Professor Dr Khalid Iraqi said that my approach is to prepare KU students for taking a lead in the business and corporate sector and it will open doors of employment of our youth. “Our teachers are our strength, our youth has enormous potential and they have proven themselves against all odds in every walk of life.”

The KU VC Professor Dr Khalid Iaqi advised that one should not be hopeless rather utilize his skills for the betterment of the society.

Dr Farhan Essa said that the objective of the incubation center is to promote entrepreneurship in Pakistan and give all kinds of support to young entrepreneurs of the country. He mentioned that Pakistani entrepreneurs have earned billions in America, who are now settled in USA, and want to serve Pakistan.

The Chairman IBA AMAN CED Dr Shahid Qureshi said that only good results are not a guarantee of success, human intelligence and innovative skills are the ones which ensure success. “An innovative mind not only prospers oneself but also opens doors for thousands of youth of the society.”                     

He urged that interested students should learn about the pre-incubation process before going to launch their startups to avoid disasters. They also announced that pre-incubation training would be given to students to start their businesses so that they could learn how to reduce the losses

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