BICON & IdeaGist Signed MoU To Enhance Collaboration For Sustainable Startup Ecosystem

The Business Incubation Centre of NUML( BICON) and IdeaGist have signed an accord to enhance collaboration for developing a sustainable startup ecosystem in the country through connectivity, awareness and capacity building.

BICON & IdeaGist To Develop Startup Ecosystem

The Memorandum of Understanding was signed between world’s largest digital incubator, ecosystem connecter and exclusive digital partner of PM’s Startup Pakistan Programme (IdeaGist) and Business Incubation Center of National University of Modern Languages (BICON) for the period of three years here at NUML.

Founder of IdeaGist Hassan Syed said that IdeaGist committed to the Prime Minister’s vision of entrepreneurship and is investing 8 billion rupees in developing startup incubators in 190 universities, 300 technical colleges, and 100 top madrasas. IdeaGist would help connect incubatees, mentors, trainers and venture capitalists from across the globe with BICON under virtual incubation partnership.

Both the institutions would help each other set up incubators in the national universities in a bid to shift job-centric academic orientation towards society-led innovative exploration.

In this collaboration, they said, the IdeaGist would offer digital and programme management services, while the NUML would offer incubation manager and management trainings during which the required knowledge would be shared with potential and new incubators. The BICON would develop, maintain and document best practices for incubator operations in the country, they added.

As per the agreement, BICON and IdeaGist would also collaborate to promote Pakistan incubation network for strengthening the national entrepreneurial ecosystem in the country.

The BICON would prepare a manual for incubators and curriculum for incubatees and help the registered incubates of IdeaGist in company registration, legal aid, accounts, taxation, marketing, and other business development activities on a commercial basis.

The sources said the parties would also jointly make efforts to seek local and international grants, projects, assignments, and business development opportunities.

IdeaGist’s Chief Executive Hassan Sayed said in pursuance of the prime minister start-up programme his organization was focusing to promote and apply the emerging technology through various business ventures.
He announced to launch a fast-track programme on those emerging technologies.
Under this partnership with NUML, we will be offering incubation management training to universities, colleges, and madrasas staff on how to help students with their startups and how to manage a financially sustainable incubation programme.

Hassan said the emerging technologies included 3D printing, artificial intelligence, intelligent vehicles, smart robots, blockchain internet of things and augmented reality.