University of Karachi to get Technology Park soon

Karachi: A Technology Incubator and Industrial Park (TIIP) will be inaugurated soon at the International Centre for Chemical and Biological Sciences (ICCBS), University of Karachi (UoK).

The main aim of this technology park and incubation centre, which is established at the cost of almost Rs 188 million, is to produce and develop supreme quality incubation procedure at the ICCBS for high-technology business start-ups.

This technology park is mainly targeted to bond the gap between industry and universities, and to fuel up the procedure of organized development work.

The Director of University of Karachi ICCBS, Prof Dr M Iqbal Choudhary, said this while speaking at a meeting organized at Dr Panjwani Centre for Molecular Medicine and Drug Research (PCMD), University of Karachi. He said that the technology park would assist in providing new jobs, elevating the economy and speeding up the development of innovative ecosystem in Pakistan.

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He said presently, 20,000 square feet is being offered for start-up companies and entrepreneurs adding that priority will be given to startups that will address the requirements of large markets and have noteworthy competitive advantage, have exceptional teams; whose business model is justifiable and scalable; offer a number of high value jobs locally; have a long-term commitment to building technology capability in Pakistan through investment in people and academic property, and aim to pay to the long term economic vitality of Karachi as well as of Pakistan.

It is important to mention here that ICCBS Technology Incubator and Industrial Park provides several services, including completely furnished office, meeting as well as conference halls, continual electricity and hi-speed internet connection, mentoring and training from industry experts, access to banking and legal services, access to accounting services, connecting along with the leading local and foreign investors, business development and marketing policy, access to seed money, sufficient parking space and availability of lodging, sports as well as entertaining facilities.