The Islamic University of Science and Technology (IUST) on Wednesday inaugurated an MSME Business Incubator at its Innovation Campus to strengthen the startup, innovation and entrepreneurship ecosystem in Jammu and Kashmir.
The incubator has been established under the MSME Innovative Scheme of the Union Ministry of Micro, Small and Medium Enterprises (MSME).
The facility was inaugurated by Dean Academic Affairs, IUST, Prof Sheikh Ajaz Bashir, and Joint Director and Head of Office, MSME Development and Facilitation Office, Jammu, A K Tamaria, in the presence of Assistant Director, MSME DFO Srinagar, Saheel Alaqband, CEO of CIED-IUST Foundation, Prof Parvez A Mir, Finance Officer Sameer Wazir, faculty members, officials and students.
Addressing the gathering, Prof Bashir described students as the “growth engines” of the university and urged them to embrace entrepreneurship as a career option. He encouraged students to develop a problem-solving mindset by identifying real-life challenges and creating innovative solutions, saying such an approach is essential for building a strong entrepreneurial culture.
Welcoming the participants, Prof Mir said the new incubator marks another milestone in the CIED-IUST Foundation’s efforts to foster innovation, support startups and contribute to the socio-economic development of the region through strategic partnerships and incubation support.
Speaking on the occasion, A K Tamaria said promoting entrepreneurship remains the core objective of the Ministry of MSME and appreciated the role of the CIED-IUST Foundation in nurturing innovation-driven enterprises. He urged aspiring entrepreneurs to avail themselves of the financial assistance, mentoring and incubation support available under various MSME schemes.
Saheel Alaqband highlighted the role of the incubator in transforming innovative ideas into successful business ventures and assured continued support from the MSME Development and Facilitation Office to startups and entrepreneurs across the region. He also stressed the need for stronger institutional partnerships to drive innovation-led economic growth.
The programme concluded with a vote of thanks by Manager, CIED-IUST Foundation, Shameem Iqbal, while the proceedings were conducted by Assistant Manager Syed Abdul Basit.
