ISLAMABAD:The Higher Education Commission (HEC), Pakistan has called for applications for Innovator Seed Fund (ISF) – 2022 from Pakistani students under the initiative ‘Turn Your Entrepreneurial Idea into a Successful Enterprise’.
HEC, in that regard, has invited innovative start-ups owned by students, alumni, and/or faculty members/researchers (from Public & Private Sector Universities/Degree Awarding Institutions) to apply for the Innovator Seed Fund (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.
The grant package includes up to USD 35,000 in seed funding, stretched over startups’ proposed budgetary requirements for activities including but not limited to entrepreneurial training, legal/financial / marketing training, and support, among other services, they added.
As per eligibility criteria, the lead applicant must either be a student, alumni, and/or faculty member/researcher of the Higher Education Institutions (public and private). He/She must have endorsement from one of the HEC Established 35 Business Incubation Centers across Pakistan. The candidates must also have an SECP-registered business concept, ensuring the legal status and promising potential of the startup.
The priority sectors for ISF support include Agriculture, Food Resources and Agri Tech, Housing, Construction and Manufacturing, Banking, Microfinance and FinTech, Health Care and Health Tech, Transportation and Logistics, Education and EdTech, E-commerce and Smart Retail, Sustainable Development, Climate and Energy, Emerging Technologies, Creative, Digital Media and Arts & Culture. While the other sectors also included that have the potential for growth and impact, they added.
HEC asked the willing candidates that Innovative Ideas/Concept Notes on the prescribed application template must be submitted via HEC online portal. https://www.rfi.hec.gov.pk. The deadline for application submission in ISF is January 6, 2023 – 11:59 pm.
For further information and application submission requirements, candidates are asked to visit the HEC website: http://www.hec.gov.pk/site/isf.