APPROACH
Skip Ribbon Commands
Skip to main content
 
Incubation

Business incubation is a business support process that accelerates the successful development of start-up companies by providing entrepreneurs with an array of targeted resources and services. These services are usually orchestrated by incubator management and offered both in the business incubator and through its network of contacts.

A business incubator’s main goal is to produce successful firms that will leave the program financially viable and freestanding. These incubator graduates have the potential to create jobs, commercialize new technologies, and strengthen local and national economies.

Source: National Business Incubation Association

Incubation: a strategic imperative for Pakistan

The Technology Incubation Center (TIC) of NUST, brings together some of the most important business and economic trends at a single point. Pakistan can gain enormous strategic benefits by leveraging these trends.

Firstly the focus on technology enterprise is crucial for encouraging technology based research & development, which is a centerpiece of the “knowledge based” economy. The conversion of technical ideas into profitable business ventures is expected to kick start a virtuous cycle, whereby innovation leads to profits and that causes more money invested back into R&D. Developing this virtuous cycle in Pakistan is an onerous task, but NUST is cognizant of the challenge and TIC continues to put together the building blocks for such a knowledge based economy.

Secondly TIC helps unleash the entrepreneurial energy of Pakistani youth. Channelization of this youthful energy into productive directions is a very important role of TIC. 40% of Pakistani population is between 10  and 29 years and many young graduates lose direction in the early part of their career. TIC offers the Pakistani youth a platform, whereby they redirect their energy and motivation towards a personal business

Thirdly the promotion of technology based businesses not only commercializes technology but also helps in employment generation through business formation. It is an established fact that the small and medium enterprises contribute the most to a nation’s employment and economic growth. TIC incubates such small firms and helps them grow which in turn leads to employment generation and economic growth.​​