Breaking News

HEC is now accepting applications for the Prime Minister’s Prime Minister’s Youth Programme

HEC is now accepting applications for the Prime Minister’s Prime Minister’s Youth Programme

HEC is now accepting applications for the Prime Minister's Prime Minister’s Youth Programme

HEC is now accepting applications for the Prime Minister’s National Innovation Award.

The Higher Education Commission (HEC) of Pakistan has urged Pakistani young innovators and entrepreneurs to apply for financing under the Prime Minister’s National Innovation Award to help them convert their ideas into companies.

The Prime Minister’s National Innovation Award is a flagship initiative of HEC’s Prime Minister’s Youth Programme. The award’s goal is to increase Pakistan’s standing in the Global Innovation Index, develop entrepreneurial culture among young, and turn ideas into enterprises. It is an open chance for all Pakistani youngsters to pitch creative ideas and get financial and technical assistance from industry professionals, as well as a six-month incubation period to turn their ideas into thriving businesses.

A total of 250 innovators will be given the opportunity to participate in ‘Idea Pitching Training’ for their unique ideas. However, only 50 concepts will be chosen for the prize. The maximum capital available to a single startup is Rs. 2 million, divided into two instalments. Initially, each of the top ten selected concepts would receive Rs. 1 million in financing, while the remaining 40 ideas will receive up to Rs. 0.5 million in funding.

During the corresponding period, all 50 winners may seek additional funds up to Rs. 1 million in addition to the prize money as needed to scale up their innovative ideas through Business Incubation Centres (BICs) as a follow-up programme. Additional cash will be provided through relevant BICs and will be contingent on startup deliverables and the authorised budget.

Food security, water management and sustainability, sustainable energy, urban planning, climate change and environment, information technology and telecom, creative governance and reforms, sociology and philosophy, medical and health sciences, and others are all eligible for the prize. The prizes will be chosen in an open, rigorous, transparent, competitive, and merit-based procedure.

How to Apply for Prime Minister’s National Innovation Award?

To apply, the youth aged between 15 to 30 may submit their proposals through www.pmyp.gov.pk by November 15, 2022.

Related Articles

Back to top button