KARACHI: A Technology Incubator & Industrial Park (TIIP) will be launched soon at the International Center for Chemical and Biological Sciences (ICCBS), University of Karachi.
The main objective of this technology park and incubation center, which is being setup at a cost of Rs 188 million, is to create and develop supreme quality incubation process at the ICCBS for high-tech business start-ups.
The technology park aims to bridge the gap between industry and universities, and to fuel up the process of organized development work.
Director ICCBS-KU Prof. Dr. M. Iqbal Choudhary said this while speaking at a meeting held at Dr. Panjwani Center for Molecular Medicine and Drug Research (PCMD), KU, here on Monday.
He said that the technology park will help in creating new jobs, uplifting the economy and speeding up the development of entrepreneurial ecosystem in Pakistan.
At present 20,000 square feet is being offered for start-up firms & entrepreneurs, he said, adding that priority will be given to startups that address the needs of large markets, have significant competitive advantage, have excellent teams; whose business model is sustainable and scalable; provide a number of high value jobs locally; have a long-term commitment to building technology competence in Pakistan through investment in people and intellectual property, and aim to contribute to the long term economic vitality of Karachi and Pakistan.
It was pointed out that ICCBS TIIP offers numeral services, including fully furnished office, meeting and conference halls, uninterrupted electricity and hi-speed internet connection, mentoring and training from industry experts, access to banking and legal services, access to accounting services, connecting with leading local & foreign investors, business development & marketing strategy, access to seed money, ample parking space and availability of accommodation, sports & recreational facilities etc.
