The RAPID Innovation Seed Fund (RISF) will be implemented through the existing BICs located at HEIs. Within the RISF competition, the Higher Education Commission aims to support a portfolio of entrepreneurial teams that, as a whole, will lead to successful start-ups addressing the COVID-19 national response. To take full advantage of the national research and innovation capacity in Pakistan, the portfolio of awards will reflect the diversity of potential entrepreneurs in Pakistan, including current students, recent graduates, and faculty members.
The budgets for RISF projects will be Rs. 5 million (USD 35,000) for a period of 6 months. The project budget will finance the following activities:
- Working capital or initial order costs
- Certification, registration or endorsement
- Laboratory testing
- Marketing costs or arranging demonstration
- Funds to scale the venture
- Financial management, or other (please specify)
Eligibility Criteria
Students, recent graduates and/or faculty from universities (Public or private sector) (The VC/Rector shall ensure that max. two exceptional proposals per HEI will be submitted)
