Business Incubation is a business support process that accelerates the successful development of start-up and fledgling companies by providing entrepreneurs with an array of targeted resources and services. By integrating students, entrepreneurs, and universities, business incubators have the most significant impact on the economy when they are tied to universities.
The Objectives of HEC BIC Program include:
a. Supporting the development of an innovation ecosystem at universities.
b. Fostering an entrepreneurial spirit at universities and encouraging students and faculty to create new enterprises.
Services Envisioned at BIC:
- Providing mentoring and guidance to startups, including but not limiting to refining business strategies, IP protection, etc.
- Providing facilitation ranging from access to laboratories to seed funding, etc.
- Engaging students of the HEI as internees or in part time jobs with startups and effectively utilizing their knowledge / skills for growth of startup.
- Developing liaison with industries and government organizations, etc.