HEC Calls for Recognition of BICs to Empower Young Entrepreneurs

News Desk

Islamabad: The Higher Education Commission (HEC) has invited applications for the recognition of Business Incubation Centers (BICs), designed to support emerging entrepreneurs by offering administrative, consulting, and networking services along with affordable startup spaces.

According to HEC officials, private higher education institutions are encouraged to apply for recognition of their BICs. Eligible institutions should have operational BICs meeting the minimum criteria outlined in the HEC BIC Policy 2021. Additionally, they should either possess an HEC-recognized or funded BIC under a consortia model.

Moreover, these institutions must demonstrate tangible research contributions towards commercialization and fostering an entrepreneurial ecosystem.

The  HEC’s recognition of BICs does not involve financial commitments. The commission aims to foster innovation, support startups, and nurture economic growth through robust incubation processes.

BICs play a pivotal role in generating employment opportunities and revitalizing innovative communities. HEC offers two routes for university participation in establishing BICs:

Public sector Higher Education Institutions (HEIs) can submit proposals for BIC establishment through a call for proposals.

Public sector HEIs with functional, HEC-recognized Office of Research, Innovation & Commercialization (ORICs) are eligible to apply for BIC establishment. Private sector universities that have independently established incubation facilities and are not part of HEC-led entrepreneurial initiatives can seek recognition for their BICs throughout the year.

This initiative aims to empower the entrepreneurial spirit and foster innovation within the higher education landscape. For further details, the HEC asked the candidates to visit the useful resources section or write to us at bic@hec.gov.pk.