The University of Karachi and IQ Group signed a memorandum of understanding to launch initiatives to help students transform their ideas and develop them into new business ventures with the Karachi University Business Incubator Centre.
According to the MoU, the KU’s Office of Research, Innovation, and Commercialization and the IQ Group will reach out to companies for enhancement of research and development of projects undertaken by the KU’s ORIC.
According to the MoU, KU’s ORIC and IQ Group will engage primarily in the pharmaceutical business and later reach out to other industries. Both parties will also identify the sources of funding for the initiatives.
The KU Vice Chancellor Professor Dr Khalid Mahmood Iraqi and on behalf of IQ Group Syed Shahnawaz Rizvi and Asif Haider Mirza inked the MoU documents at the VC’s Secretariat on Monday.