In a bid to improve the innovation and startup ecosystem in Pakistan, the Higher Education Commission (HEC) has called for applications for its Innovator Seed Fund (ISF) 2022 programme.
As per the HEC, the grant aims to turn entrepreneurial ideas into successful enterprises.
Seed money, sometimes known as seed funding or seed capital, is a form of securities offering in which an investor invests capital in a startup company in exchange for an equity stake or convertible note stake in the company.
The HEC, in this regard, has invited innovative start-ups owned by students, alumni, faculty members and researchers from public and private sector universities to apply for the ISF grant.
According to official sources from HEC, ISF, envisioned for the development of innovation and startup ecosystem in Pakistan, is a flagship initiative of HEC under the Higher Education Development in Pakistan Project (HEDP).
The sources said that ISF is anticipated to support the development of fledgling startups having innovative ideas through the provision of seed funding grants, to transform them into successful and sustainable enterprises.
Published in The Express Tribune, December 10th, 2022.
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