The Higher Education Commission (HEC) has approved a budget of $525,000 for Pakistani startups and has begun to aggressively participate in the promotion of entrepreneurship culture in that country. On Thursday, HEC revealed that 15 startups had received funding totaling up to $35,000 apiece in a pitching contest.
Out of 186 candidates that applied, 26 entrepreneurial teams were chosen for the pitching competition that was held under the auspices of the Innovator Seed Fund (ISF). Some of the startups that were successful in receiving the grant are ezGeyser, mimAR Studios, Funkshan Tech, and truID Technologies from the National University of Sciences and Technology (Nust); Savvy Engineers and Arm Rehab Technologies from the International Islamic University Islamabad (IIUI); Averos Life Sciences from the Institute of Management Sciences, Peshawar; Wonder Women from the University of Punjab; Orko, Boltay Huroof, and Porter Pakistan from NED
Mr. Gailius J. Draugelis expressed pleasure with the HEC-WB relationship and expressed hope that the HEDP projects will assist high-quality tertiary education in Pakistan while creating income streams and spurring socio-economic development. He recognised the value of BICs in supporting the implementation of the commercial concepts presented by university teams.
He said that the HEC-WB partnerships sought to advance relevant and high-quality research and to foster connections between academia and industry. Dr. Shaista Sohail stated at the pitching event that Pakistan has the highest percentage of youth in its history, making it one of the youngest nations in the world and improving its prospects of startup success.
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