University of Central Punjab (UCP) has collaborated with the Small and Medium Enterprises Development Authority (SMEDA) and signed a memorandum of understanding (MoU) to collaborate and extend cooperation for the promotion of entrepreneurship in youths with a special focus on women entrepreneurship.
The MoU was signed by Javed Afzal, SMEDA-Punjab provincial chief, and Prof Dr. Muhammad Mansoor, UCP rector on behalf of their organizations. Fouad Riaz Bajwa, director, ORIC UCP, Muhammad Asif, manager, Business Development Service, SMEDA Punjab, and faculty members of UCP were also present.
According to MoU, SMEDA and University of Central Punjab will commence efforts and programmes for the promotion of innovative culture among students and alumni. It includes support for generating linkage with the industry for the exchange of information and expertise, joint training programmes and workshops for students in the areas of mutual interest and will not be limited to entrepreneurship, development of business plans, idea generation and business start-up.
Moreover, both organizations will work together to conduct joint research in the areas concerning to SME sector and entrepreneurship development in Pakistan. The MoU will also facilitate mutual sharing of research.
SMEDA-Punjab Provincial Chief Javed Afzal while speaking on the occasion said that MoU has been concluded with an understanding to work towards the development of a positive innovative culture in the region. He added that the major purpose behind the MoU is to cooperate and bring together inter-institutional efforts and enterprises to reach academic and professional partnership to enhance industry-academia linkage.
He then expressed hope that the Memorandum of Understanding would be supportive to organize SMEDA and University of Central Punjab services in forming new business start-ups among young business graduates.
However, SMEDA was established in October 1998 to take on the challenge of developing Small & Medium Enterprises (SMEs) in Pakistan. It focuses on providing an enabling environment and business development services to small and medium enterprises. It also facilitates other stakeholders in addressing their SME development agendas.