Lahore: Vice Chancellor UET Prof. Dr. Shahid Munir, has proposed to the Government of Punjab the establishment of a ‘Bank of Entrepreneurship’ to promote startups, entrepreneurship and self-employment among the youth.
Speaking during a panel discussion at the Entrepreneurship Expo organized by See Pakistan at Expo Centre Lahore, Dr. Shahid Munir said Pakistan’s youth possess immense talent and innovative ideas; however, limited access to capital and appropriate financial support remains a major hurdle in transforming promising ideas into successful businesses. He proposed that a dedicated ‘Bank of Entrepreneurship’ should provide young entrepreneurs with financing on easy terms, low markup rates, business guidance and institutional support.
During the panel discussion, the Vice Chancellor emphasized that the proposed bank should not be limited to conventional lending. It should establish a mechanism for evaluating business plans through experts, identifying viable projects, providing investment and offering mentorship, guidance and monitoring during the initial stages of business development.
Dr. Shahid Munir said that when a young person has an innovative business idea but lacks access to capital, mentorship and markets, it becomes difficult to transform that idea into a successful enterprise. The proposed ‘Bank of Entrepreneurship’ could serve as a comprehensive platform, providing young entrepreneurs not only with financial support but also with business training, mentorship and market linkages.
Discussing the role of universities in promoting entrepreneurship, he said that thousands of research projects, innovative ideas and new technologies emerge from universities every year, but only a small number are transformed into successful commercial ventures. He stressed that the proposed bank should work in an integrated manner with universities, incubation centres, industry, the private sector, investors and technology companies to create an effective university-to-market pathway.
He further emphasized that strengthening entrepreneurship was essential for creating new employment opportunities, promoting self-reliance among young people and accelerating economic activity. By providing the right combination of financing, mentorship, training and market access, talented youth could be transformed from job seekers into job creators.
Participants of the panel discussion also stressed the need to promote entrepreneurial skills among young people, strengthen university-industry linkages, expand investment opportunities for startups and establish effective mechanisms for taking innovative business ideas from concept to market.
The Entrepreneurship Expo was attended by environmental expert and entrepreneur Awais Rauf, Vice Chancellor of the University of the Punjab Prof. Dr. Muhammad Ali, Mian Imran Masood, representatives of the University of Sialkot, Riphah International University, and other universities, business organizations, industry and entrepreneurship stakeholders.
