ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) celebrate the Global Entrepreneurship Week 2013 by organizing a two days conference in collaboration with the Center for International Private Enterprise (CIPE) and Kauffman Foundation here.
The theme of the conference was "Business Incubation in Pakistan", according to ICCI Press statement issued here.
Among others, a large number of young entrepreneurs, heads of Business Incubation Centers of Quaid-e-Azam, Iqra COMSATS and NUST universities and students attended the conference.
The event provided a good platform to entrepreneurs and academia to exchange views and share ideas on further improving the business incubators culture in Pakistan, the statement added.
Addressing the participants, ICCI President, Shaban Khalid said that youth of the country possess immense potential and talent that must be exploited with right policies for the economic development of the country.
Developing an entrepreneurial eco-system is the best option to put Pakistan on fast track economic growth, he said adding youth has shown great interest towards entrepreneurship, however, they need supportive environment to start businesses and unleash their potential for making Pakistan a thriving economy.
He emphasized that government should develop a comprehensive strategy and earmark a dedicated fund to facilitate and encourage a network of business incubation centers in the country equipped with all modern equipments and facilities to stimulate the growth of new businesses.
It will lead to creation of more jobs, commercialization of new business ideas and technologies, promotion of better image of country and strengthening the overall economy.
He lauded the role of young entrepreneurs who have chosen this career not only to improve their own lives but also to provide jobs to others.
He said with the help of their innovative ideas and forward looking approach, they would make useful contribution to improving the economy.
Hammad Siddiqui, Deputy Country director, CIPE highlighted the role of CIPE in promoting entrepreneurship and said that CIPE has been actively engaged with chambers and associations to promote entrepreneurial culture in Pakistan.
By organizing such events, CIPE has been highlighting the untold success stories of promising entrepreneurs in the country.
He also briefed the participants about the power of social media for marketing their companies and building community of customers for their products.
The bloggers were also invited to the event to cover the success stories of young entrepreneurs and posted them on their blogs.
On the occasion, the young entrepreneurs highlighted many issues in starting up new businesses.
They termed lack of financing and venture capital, insufficient mentorship facilities, lack of business plans and online payment facility, unawareness about available business incubation centers, lack of collaboration between universities and incubation centers and gap between stakeholders as the main impediments in the way of starting new business ventures.
They stressed that government should address these issues on priority to create an enabling environment for entrepreneurship development.