Discovering entrepreneurs: Ones with the best business plan awarded at NUST
Prime Minister says such events should be organised annually.
Cash prizes were dostributed among the five winning teams of the ‘DISCOVER- Business Plan Competition’ at the main campus of National University of Science and Technology (NUST) on Monday, said a press release.
A total of 250 teams, consisting of over 1200 students, took part in the mega event. The winning team received an amount of Rs0.5 million while the second and third runners-up received Rs0.3 million and Rs0.25 million respectively. The teams winning fourth and fifth places were given Rs 0.1 million each, as a token of appreciation.
Spanning a period of seven months, the business plan competition titled “Prime Minister’s Entrepreneurial Challenge”, boasted of participation of students from over 30 Pakistani universities. It was held under the auspices of the Offices of Research, Innovation and Commercialization (ORIC).
Speaking to the participants, Prime Minister Yousuf Raza Gilani, who was the chief guest, emphasized on the need for promoting the culture of innovation and entrepreneurship.
“The future of a country largely depends on the young and their innovative ideas. It is fortunate for a developing country like Pakistan to have such a talented young force,” he said.
Referring to the competition, the PM said, “The event should be held annually with the complete financial support of the government.
Thanking the prime minister for his support, Rector NUST Muhammad Asghar said that it was a historic day for the promotion of innovation and entrepreneurship in the country.
He stated that the business plan contest was a great learning exercise for participating students.
Published in The Express Tribune, October 18th, 2011.