NUST hosts Idea Pitching Bootcamp of Prime Minister’s National Innovation Award
The Idea Pitching Bootcamp of the Prime Minister’s National Innovation Award (PMNIA) took place at the National University of Sciences & Technology from February 6 to 10, 2023. Ms Shaza Fatima, Special Assistant to the Prime Minister on Youth Affairs, was the chief guest at the closing ceremony held at National Science & Technology Park-NUST. Prominent among others present was Pro-Rector Academics NUST, Dr Osman Hasan. The innovation & Commercialisation Office of NUST (ICON) and the Higher Education Commission of Pakistan jointly conducted the activity under the auspices of PMNIA.
In her address, the chief guest thanked NUST for hosting the five-day bootcamp, which, she hoped, would have equipped young innovators with the fundamental knowledge and skills required to develop viable business models. She encouraged the participants to gear up for the National Pitching Competition – the second stage of PMNIA, by refining their ideas into comprehensive business plans that incorporate essentials, such as competitive market analysis and strategy, financials, and so on. She assured the potential winners of PMYP’s full support vis-à-vis incubation, linkage with industry, etc. The PM’s aide also highlighted the significance of PMNIA and similar initiatives towards enabling the youth to transform their novel business ideas into successful enterprises and hence contribute to national development. She further said that it is one of the priority agendas of the incumbent government to foster a culture of entrepreneurship – the Youth Business Loan Scheme is one of the initiatives to achieve that end.
Director of Innovation & Commercialisation Office NUST (ICON), Mr Muhammad Anwar Fareid, laid emphasis on tapping the rich innovative potential the Pakistani youth is endowed with. He maintained that the initiatives such as PMNIA provide the perfect launching pad for them to employ their creative faculties for solving the country’s most pressing issues. He also apprised the audience of how NUST has developed a world-class innovation ecosystem, wherein disruptive technologies and products are nurtured, patented, and commercialised to the industry.
As many as 256 students from all over Pakistan will now take part in the National Pitching Competition scheduled to be held in March this year. The PMNIA provides an opportunity for young entrepreneurs (15-30 years) to present their innovative ideas related to eight thematic areas with a specific focus on Eco-Innovation. The winners get a chance to win PKR 2 million in grant funding along with technical support and incubation space.