Suddenly the concept of entrepreneurship has become coolest trend in Pakistani educational culture. Over the past few years even those children who dreamt of growing up to be an engineer, doctor, lawyer or pilots now seem more ambitious towards becoming an entrepreneur and changing the world by innovating and inculcating their own ideas into the society. Similarly the term “creating jobs” rather than “hunting Jobs” is becoming more legendary among the university graduates. Each year Pakistani universities produce thousands of graduates who obviously end up hunting jobs rather than creating one.
Recent years however, have witnessed a wonderful trend beyond the obvious among top ranked Pakistani universities. To back up this claim examples like Lahore University of Management and Sciences (LUMS), National University of Science and Technology (NUST) Islamabad and Ghulam Ishaq Kahn Institute (GIKI) where recent pass outs and even currently enrolled are pursuing entrepreneurial startups successfully, are eminent. Along with many other government and private pioneers of entrepreneurial incubators these universities are playing pivotal role by facilitating the recent startups in multiple ways like mentoring, coaching, providing free working spaces and chances to collaborate with angel investors.
LUMS Centre for Entrepreneurship is a tech accelerator offering four months long foundation program to its most promising startups. This program includes customized mentoring and counseling from incubators highly competent team, free working space, internet and other administrative support and chance to built relations with veteran business persons, investors and promotion benefits through a brand like LUMS. They are also offering non-resident acceleration program to those already running their small companies where they can get access to mentoring and networking opportunities. In exchange to theses services they also take a small portion of the equity generated by theses startups to finance monthly investments they make on each venture.
Technology Incubation Center NUST is another platform where experts from NUST support and nurture viable technology based business ideas to be developed into promising business. They also offer similar facilities like free working areas, administrative support, and continuous counseling as required by these startups. They also take a small share of their equity in order to sponsor them and other such cases.
The Incubator is another such center by GIK Institute where their specialized faculty and mentors guide and coach students, graduates and recent startups from GIKI and other universities and simultaneously provide them with facilities like stipend, residential and working space, other utilities, leverage of promotion via GIKI, and platform to showcase viable ventures and attract potential investors to convert them into companies.
These universities have already created a number of startups and jobs and working to expand theses activities to support more entrepreneurial ideas. Besides that there are a number of other universities like University of Engineering and Technology (UET) Lahore, University of Management and Technology (UMT) Lahore, Information Technology University (ITU) and Government College University (GCU) Lahore are providing such platforms, resources, short term plans and courses and fairs & exhibitions for young entrepreneurs to showcase and capitalize their entrepreneurial talent.