Business Incubation is a business support process that accelerates the successful development of start-up companies by providing new entrepreneurs with an array of targeted resources and services. A business incubator’s main goal is to produce successful firms that will leave the program financially viable and freestanding. It creates jobs, helping the new graduates to become job providers instead of being job seekers, commercializes new technologies, and strengthens communities and economies.
The Business Incubation Centre (BIC) at Foundation University Islamabad under Office of Research Innovation and Commercialization (ORIC) offers venue for the pioneering business and technology ideas of the students, alumni and faculty.
The key objectives are as enumerated below:
- Nurture entrepreneurial atmosphere by supporting students, faculty, alumni and community in their pursuit of technological or social innovations.
- Supporting the promising start-ups during initial period when they are most susceptible.
- Offer resources (mentorship, equipment, etc.) as measured viable on case to case basis.
- Establish academia-industry linkages to evolve mutually beneficial solutions.
- Encourage disruptive innovations and partner in knowledge-based economy.
- Hand-holding in commercialization of market ready products.
- Harvest organizations that graduate as a gainful business concern.