Business Incubation Center

Dr. Taskeen Zahra 
MBBS, FCPS
Phone: +92-42-99211145-53 Ext: 191
E-Mail: bic@fjmu.edu.pk

Introduction of the Department

The Fatima Jinnah Medical University (FJMU) took a significant initiative in June 2022 by establishing a Business Incubation Center (BIC) in collaboration with the Higher Education Commission (HEC). This BIC, business incubator model in Pakistan, operates at the intersection of academia and entrepreneurship, providing a comprehensive environment for young entrepreneurs to establish successful businesses. Serving as a dynamic hub, the BIC offers a range of services, including training, consultancy, marketing and financial assistance, technology expertise, and a skilled workforce, all aimed at nurturing and growing new business ventures. By leveraging FJMU’s knowledge base and faculty, the BIC facilitates industry-academia linkages, fostering collaboration between the educational institution and the local business community. It not only offers practical exposure to students but also harnesses university research to address challenges faced by emerging entrepreneurs. In essence, the BIC serves as a vital source for entrepreneurial training, job creation, community development, business retention, and overall economic expansion at the local level.

 

Objectives

Our Objective are:

  • Enhancing the productivity of young entrepreneurs and startup enterprises to propel their success.
  • Creating opportunities for networking that catalyze successful business growth.
  • Offering mentorship and training programs designed for startup companies and entrepreneurs, fostering the development of innovative ventures.
  • Providing students with practical exposure through internship and job opportunities, forging a direct link between academic learning and real-world applications.
  • Promote the commercial research culture through the strong venture of university-industry Tag.

Goals

  • To encourage the research & development atmosphere
  • To encourage entrepreneurial culture in the society
  • To Mobilize the capital in the economy
  • To create jobs in the economy
  • To make university financially viable

BIC Services & Facilities

  • The Business Incubation Center at FJMU provides a diverse range of resources to its incubates, encompassing:
  • Business development services covering management, finance, and marketing.
  • Entrepreneurial training sessions and workshops.
  • Access to knowledgeable consultants and subject matter experts at a shared cost.
  • Networking opportunities for enhanced collaboration.
  • Well-appointed office spaces.
  • Availability of conference and meeting rooms.
  • Full access to shared office facilities at nominal charges.
  • IT and management services for operational support.

Business Incubation Center (BIC) Selection Process:

  • The following Criteria should be taken into consideration for selecting Incubating Companies
    Application Submission:
  • Entrepreneurs submit detailed applications outlining their business ideas, plans, and objectives.
  • Initial Screening:
  • Review of applications to ensure they align with BIC criteria and objectives.
  • Shortlisting:
  • Selection of promising candidates based on the viability and potential of their business concepts.
    Pitch Presentation:
  • Shortlisted candidates present their business ideas to a panel, highlighting key aspects such as innovation, market potential, and feasibility.
    Evaluation:
  • Thorough assessment of each business proposal, considering factors like market analysis, financial viability, and scalability.
    Interviews:
  • In-depth interviews with shortlisted candidates to gauge their commitment, passion, and understanding of the industry.
    Due Diligence:
  • Verification of the applicant’s background, business plan, and financial projections to ensure accuracy and reliability.
    Selection Committee Review:
  • A committee reviews the shortlisted candidates, considering all aspects of their proposals and interviews.
    Final Selection:
  • Successful candidates are notified, and agreements are established for their inclusion in the BIC program.
  • Orientation and Onboarding:
  • Induction sessions and onboarding processes to familiarize selected entrepreneurs with BIC services, facilities, and expectations.
    The selection process for the Business Incubation Center is designed to identify innovative and high-potential ventures, ensuring a conducive environment for growth and success within the incubation program.