Pakistani young innovators and entrepreneurs have been invited to propose their creative business ideas for the Prime Minister National Innovation Award 2023 and get a chance to win Rs2 million in grant funding along with technical support and incubation options.
National Innovation Award is a flagship programme by the Prime Minister’s Youth Programme (PMYP) aimed at motivating youth towards utilising their energies for the betterment of the country.
According to PMYP source, young Pakistani innovators and entrepreneurs aged 15 to 30 can submit their business proposals through the website www.pmyp.gov.pk by February 15 (today) and can win the Grant package to kick start their business ideas. Under this project the young Pakistanis can submit their innovative ideas in the field of food security, water management and sustainability, sustainable energy, urban planning, climate change and environment, information technology and telecom, innovative governance and reforms, sociology and philosophy, medical and health Sciences etc.
A total of 250 innovators get the chance of ‘Idea Pitching Training’ for their innovative ideas arranged by the Higher Education Commission (HEC). However, only 50 ideas will be finalised for the award. To ensure transparency, the selection of awards will be made through an open, rigorous, transparent, competitive, and merit-based process. The maximum funding provided to a single start-up will be Rs2 million and will be divided into two phases. Initially, an amount of Rs1 million will be provided to the top 10 selected ideas each, while the rest of the 40 ideas will get up to Rs0.5 million each in funding.
Published in The Express Tribune, February 15th, 2023.
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