ORIC | Focus on Commercialization of Research and Entrepreneurship
The importance of the entrepreneur and entrepreneurship in driving growth and maintaining and sustaining economic development is not a secret anymore. The backbone of American and European economies has always been innovation and entrepreneurship with the SME sector contributing more to the GDP than big corporations. In these countries, the twin engines of entrepreneurship and the knowledge economy have ushered in many radical innovations: new forms of technology—from IT to biotech—new patterns in society, new demands on the workplace, even new modes of living. Universities were instrumental in developing much of this radical innovation. There is a need in Pakistan to focus on research that can contribute to the knowledge economy in terms of innovation and which can at the same time be commercialized. The focus on entrepreneurship will ensure that the University’s staff, research students and other students develop innovative ideas and transform them into viable business ventures with the support of the University. This will not only result in scientific development of the country and the university but will also allow the university to produce graduates who are job providers instead of job seekers. ORIC University of Malakand has been very active in this regard, and has been training and motivating students and faculty in coming up with innovative ideas which can be commercialized and on focusing on research that can make an impact on people’s live and the country’s economy.