“Knowledge-based economy needs innovations”; says KU VC

“Knowledge-based economy needs innovations”; says KU VC


Innovation-based technology is essential for the building of a knowledge-based economy and the whole world is promoting this emerging culture one way or another. Luckily, our youngsters are also taking interest to develop, organize and run a business enterprise, so that they could earn well and also provide job opportunities to others.

If we provide proper guidance and support, then they can achieve their goals without facing a lot of problems. However, we also need to change the mindset of our society. As it is a common custom in our society that we wait for the help of others to initiate our projects while we should start the project with confidence instead of relying on others so that people can come forward and help us in building and expanding those projects.

These views were expressed by the Vice Chancellor University of Karachi Professor Dr Khalid Mahmood Iraqi on Tuesday. He was addressing the closing ceremony of the first and second cohorts of the Karachi University Business Incubation Centre.

He informed the audience that Kubic provides the platform where our youth can use their talents to achieve their unfulfilled dreams. A large number of national and international experts through online webinars are engaged in mentoring and grooming students.

He acknowledged that Kubic provides guidance on everything from refining project proposals to market access and shared insights about what is required for success. Meanwhile, the KU Director Office of Research Innovation and Commercialization Professor Dr Aliya Rehman, while highlighting the aims and objectives of the Kubic, said that it provides a facility that helps to transform ideas into sustainable businesses and enables students, researchers, scientists, alumni, and founders of startups in areas critical to growth.

She mentioned that Kubic focuses on management, training, teamwork, networking, marketing as well as financial planning and provides office space, administrative, intellectual property, and legal services.

Earlier, Manager Kubic Talha Bin Shuja informed the audience that 2.7 million people lost their jobs in Pakistan due to the Covid-19 pandemic, and around 24 percent of them were educated people and were looking for jobs.

He mentioned that but on the other hand, Pakistan’s start-up industry boomed rapidly and generated US$305 million in the last nine months of 2021. “We, at Kubic are trying to solve unemployment in Pakistan by transforming raw and research-based ideas into sustainable businesses. We help the startups in providing mentorship, networking, and investment opportunities to be a successful startup.”

He shared that Kubic has successfully graduated 12 startups which are founded by female and male founders alike. Among these startups five have already initiated the patent process, 12 have started the trademark process and 12 have registered their companies.

He lauded that our startups have created 72 paid employment and 25 internship opportunities in just six months. The startups were successful in bootstrapping a total of Rs3 million capital and their yearly revenue has crossed Rs10 million.

The startups including Why School that aims to promote question culture in our society by building healthy relationships between students and teachers and generating thought-provoking content that makes people think critically and Easy AI Sols aims to improve the education in Pakistan by making AR cards that can help children in understanding their science topics by visualizing our simulations embedded on card participated in the event.

Meanwhile, other participants including Cash The Trash which is a smart solid waste management project and based on the idea of integrating communication technology into the waste management system to promote waste sorting at the household level through an incentive-based approach and the Enviro Solutions who are utilizing plastic waste in the manufacturing of asphalt( Bitumen) mix for road carpeting to solve the problems of potholes and cracks were also present on this occasion.

Others include Tuam-e-khaas a platform that empowers women to sell their home-cooked food and Auctioneer who are providing space-saving furniture for residential and commercial needs as well as Begum & Bano who are making one of a kind canvas-based handbags which are customized as per client’s needs and willing to give jobs to housewives and Inspir-Innovation a platform for women to get freelance work in Pakistan also attended the closing ceremony.

Furthermore, Aqdaar who is providing low-cost services to make 3d and animation for the prototype of innovative ideas, IIRDC a platform to bridge the gap between the Islamic teaching and modern education, and the Plants Valley who are providing horticulture and landscaping services in Pakistan were also present on this occasion.

There are no reviews yet.

Be the first to review ““Knowledge-based economy needs innovations”; says KU VC”

Your email address will not be published.