Seminar on “How to Transform Ideas into a Viable Business”

An awareness seminar on, “How to Transform Ideas into a Viable Business”, was organized by Standing Committee on Business Academia Collaboration on Water under the auspices of U.S.-Pakistan Center for Advanced Studies in Water (USPCAS-W), Mehran University of Engineering & Technology (MUET) on Thursday, at Makhdoom Dawood Hall MUET Jamsohoro. The keynote speaker Dr. Zeeshan Khatri, Associate Professor at MUET Textile Department said that Technology Venture Commercialization (TVC) is a key contributing factor towards revenue generation as well as financial and technical sustainability for any of the educational and research institution. He said successful entrepreneur is who; he or she has innovative potential to transfer ideas into a viable business and takes the existing problems in the business opportunities. Dr. Khatri said that technology is not for love and hate but for the products to be produced in the market and the utility of the products are equally important as their invention, which not only needs value addition but also value creation. He also further emphasized on marketing and access of the products in the market. On the occasion,

Dr. Mohammad Aslam Chaudhry, the Chief of Party USPCAS-W, said that University of Utah (UU) is among four top universities of the Unites States, which generates maximum business models in the USA. He said that TVC at UU is dedicated to commercializing new technologies and inventions from discoveries made and developed and also recognized leader in transforming new ideas into practical, commercially viable products and services. He further assured the support form UU for TVC perspective efforts are being taken or to be taken by MUET in Pakistan. In closing remarks, Dr. Tahua Hussain Ali, acting Vice Chancellor MUET said that human mind generates millions of ideas but the need is to transform these ideas into the reality by inventions of innovative technology and products. He said that MUET is one of the top engineering universities in the country, provides maximum facilities to the faculty and students for academic, TVC and research activities.

Prof. Dr. Rasool Bux Mahar, vice president of the committee welcomed all the participants and said that integrated efforts are needed to promote TVC process in academia. He said that his is the first awareness seminar organized by the committee, will support entrepreneurial mindset faculty and students for the transformation of innovative ideas into actions. Dr. Zulfiqar Ali Umarani, secretary of the committee presented vote of thanks and said that in next series of TVC Seminar, the participants from industries will also be invited to participate. He in order to promote innovation and commercialization, MUET is going to install incubators in the campus.

He further said that MUET administration is very much committed to support TVC activities. Mr. Awais Anwar Chandio, Assistant Professor of USPCAS-W moderated the seminar proceedings. Dr. Bakhshal Khan Lashari, Project Director USPCAS-W, Prof. Dr. Abdul Sami Qureshi, MUET Dean Faculty of Sciences Technology & Humanities, Dr. Khadija Qureshi, President Society of Women Engineers, Ms. Shabnam Baloch, Communication and Gender Expert USPCAS-W, Dr. Kamran Ansari, Deputy Director USPCAS-W and others from different institutes of MUET and University of Sindh Jamshoro participated in the Seminar.