University of Agriculture, Faisalabad has decided to establish Technology Incubation Centre in order to commercialize its innovations. It was decided in a meeting of UAF Senior Faculty members under the Chairmanship of Vice Chancellor Prof. Dr. Iqrar Ahmad Khan on Thursday. While talking to the Scientists, Dr. Iqrar Ahmad Khan said that Pakistan has been enjoying competitive position in agriculture products but due to lack of innovation lead growth the Country has faced food shortages comparatively lower yields. He maintained that following the International Higher Educational models in which Universities cover their annual expenses through commercializing innovation done in their departments, UAF is going to take a bold step to commercialize its innovations.

While highlighting the details of new initiative Dr. Khan said that an agreement has been made in this regard with development pool firm in order to develop business briefs for innovations. “These business briefs will carry information about the market potential and business visibility of innovated products” he added. Dr. Iqrar Khan hoped that these business briefs will be very attractive for the business community looking for new investment opportunities.

UAF has initially identified 13 different innovations for which University briefs these products have enough market potentials to make the institution financially independent. It is worth mentioning that Technology Incubation Centre and commercialization of innovations will lead the University towards self-sufficiency and will pave the ways to boost the productivity potential in agricultural sector. An amount of Rs. 4.4 million would be spent on the Establishment of Technology Incubation Centre and a Technology Park will also be established at main Campus to attract the investors and industrial sector.