KARACHI: When Talib Karim, IoBM President says that this Institute envisions and encourages students to pursue entrepreneurial projects to become job creators and not job seekers, IoBM’s Office of Research Innovation and Commercialization (ORIC) comes into action in organizing and brainstorming on viable ideas, insights and initiatives on the role of Incubation Centers in Entrepreneurship Creation, says a Press release.
The Office of Research Innovation and Commercialization, Institute of Business Management (ORIC-IoBM) organized a Workshop on “Role of Incubation Centers in Entrepreneurship Creation” at the Entrepreneurship and Management Excellence Center (EMEC), IoBM on Tuesday.
Resource persons at this Workshop were Syed Azfar Hussain, Manager and Head of Technology Park and Technology Incubation Center, International Center for Chemical and Biological Sciences (ICCBS) and Muhammad Talha, Manager Incubation and Outreach Activities at IBA. Besides the presence of IoBM’s Talib Karim, President; Dr. Ejaz Ahmed, Rector; Dr. Syed Irfan Hyder, Dean CBM and CES; Dr. Amanat Ali Jalbani, Director, ORIC-IoBM; Muhammad Tariq, Manager, Research Operation and Development, this Workshop was largely attended by IoBM HoDs, faculty and external participants.
This Workshop focused on Formation of Incubation Centers; Sources of Funds for startups; Structure and Functions of Incubation Centers; Industrial Liaison through Incubation Centers; Promotion and Management of Incubation Centers and Spin-off and Graduation of Startups. A Business Incubator, therefore, is a company that helps new and startup companies to develop by providing services such as management training or office space.
These services are developed or arranged by the business incubator and offered it directly or through its network of contacts. Critical to this definition of an incubator is the provision of management guidance, technical assistance and consulting tailored to young, growing companies. Graduates of the business incubator program create jobs, revitalize neighborhoods, commercialize new technologies, and strengthen local and national economies.
Addressing queries from and answering questions of Director ORIC and the participants, the panelists emphasized upon the need for a congenial atmosphere for the startups; teamwork and collaboration from all departments; motivating faculty and attracting industry; company spin-offs amid university research; marketing and selling of the prototypes from the blossoming hatcheries to the mentoring accelerator levels.
Talib Karim, who presented mementos and certificates to the participants of the Workshop, said that Incubation Center at IoBM was personally close to his heart and that IoBM endeavors to foster the same in letter and in spirit. He reinforced instead of creating job seekers Business Incubators are turning new graduates into job providers.
Earlier, Dr. Amanat Ali Jalbani welcomed the participants of this occasion, introduced the theme of the Workshop and briefed about ORIC as a strategic and operational support to the IoBM’s research activities in order to initiate an instrumental role in facilitating the University-Industry linkages towards corporate excellence.
Muhammad Tariq coordinated in planning, organizing and promoting of this Workshop. It is noteworthy that IoBM students, faculty, management and alumni are beginning to take interest in fostering events and activities pertaining to the Incubation Center at IoBM.