Z

STUDENT

STARTUPBusiness Center

Accelerate Your Startup Journey

OFFICE OF RESEARCH,

INNOVATION & COMMERCIALIZATION

Transforming Concepts Into Impacts

Student Startup Business Center (SSBC)Office of Research, Innovation & Commercialization (ORIC), University of Agriculture, Faisalabad

041-9200193

oric@uaf.edu.pk, ssbc.bic@uaf.edu.pk

www.facebook.com/oricuaf f

Contact

Business Incubation Center-UAF was established in 2009. It provides management guidance, technical assistance and mentorship to startups. BIC also support startups by providing an array of services. It facilitates entrepreneurs with well equipped laboratories, extensive libraries and powerful computer systems. BIC conducts different types of capacity building programs for mentoring startups. It also provides continued assistance in preparation and implementation of feasibilities and business plans. BIC actively participates in securing finance for new ventures.

About Business Incubation Center

Stimulates entrepreneurial spirit & innovation promotion

Generates employment for local community

Strengthens University Industry relations

Helps in devising business strategies

Assists in marketing and financial planning

BIC Objectives

STUDENT STARTUP BUSINESS CENTER

STUDENT

STARTUPBusiness Center Accelerate Your Startup Journey

STUDENT STARTUP BUSINESS CENTER

02

STUDENT STARTUP BUSINESS CENTER

03

Pakistan must prepare its students to compete in a highly challenging and globalized economy. In addition to academic knowledge, it is necessary to provide students with practical skills promote student entrepreneurship and support student startups both with knowledge and financial means. Student innovative ideas can be transformed into successful businesses, with the right guidance and financial assistance. Students are ideally positioned to utilize their stay at the university to come up with breakthrough ideas that can become powerful drivers of economies.

Background

The role of higher education also includes empowering and enabling students to compete in a highly challenging and globalized economy. As we are transiting towards a knowledge economy, universities are emerging as the primary agents of economic growth. In addition to their traditional role of imparting education, universities are focusing on driving innovation, entrepreneurship and using linkages with the industry to identify value addition opportunities that can be commercialized.

Why Student Startup Business Center was Established?

Compiled and edited by

Prof. Dr. Zahir Ahmad ZahirDirectorOffice of Research Innovation and Commercialization (ORIC)University of Agriculture, Faisalabad

Dr. Waseem Ahmad InchargeBusiness Incubation Center (BIC)University of Agriculture, Faisalabad

Fahd Farid SaeedResearch OfficerBusiness Incubation Center (BIC)University of Agriculture, Faisalabad

Mr Imran MunawarResearch OfficerBusiness Incubation Center (BIC)University of Agriculture, Faisalabad

Mr Farooq HassanResearch OfficerBusiness Incubation Center (BIC)University of Agriculture, Faisalabad

STUDENT STARTUP BUSINESS CENTER

04

STUDENT STARTUP BUSINESS CENTER

05

Entrepreneurship and innovation contribute towards economic and social development of a country. University-based entrepreneurship ecosystem plays a vital role for building entrepreneurship culture among students. The University of Agriculture, Faisalabad has established a Student Startup Business Center (SSBC) with the collaboration of the Promotion of Education in Pakistan (PEP) Foundation Inc. New York and Higher Education Commission (HEC) of Pakistan. Student Startup Business Centre (SSBC) provides mentorship and initial financing to various startups. The major goal of SSBC is to produce successful startups that will leave the program financially viable and freestanding. SSBC provides opportunities to strengthen ties between the educational institution and the local business community.

Introduction

1. To encourage and support students for establishing their own startup initiatives2. To promote entrepreneurship through entrepreneurship awareness workshops

and innovation challenges3. To identify and attract sources of financial assistance from businesses, donors,

angel investors and venture capitalist to assist students in their startups4. To provide training for students in basic skills such as business plan development

and developing elevator pitches5. To design and implement programs that will link successful startups with

relevant industries and business investors6. To provide finance to the students for starting their own enterprises

Objectives

Free co-working space

Seed Grants

Access to all UAF facilities

Networking

Mentoring and Coaching

Opportunity to participate in national/

international start-up events e.g. DICE-AFS

Specialized curriculum

SSBC will provide seed funding of up to Rs. 900,000/- to the selected startups, subject to the following terms and conditions,1. The startup must return to the SSBC fund

within ten years an amount twice equivalent to that received;

OR2. The startup makes SSBC the beneficial owner

of 10% equity stake in its company and thereafter donate 5% of each total sale/earnings to SSBC in perpetuity

Seed Grants

SSBC offers the following incubation facilities to the selected startups:1. Access to UAF knowledge base and resources 2. Identification and access to state-of-the-art

laboratories and libraries4. Facilitation in hiring interns 5. Identification of various funding options for

Awardees6. Support in marketing through SSBC website,

ORIC Newsletter and Events

Access to all UAF Facilities

SSBC offers free co-working space to the selected startups along with following services:

Free Co-working Space

Furnished office space with plug-in internet

Access to photocopy and printing

Dedicated conference room facility equipped with multi-media

Display of company's profile on SSBC website

Support staff assistance

STUDENT STARTUP BUSINESS CENTER

06

STUDENT STARTUP BUSINESS CENTER

07

Networking

SSBC organizes various networking events for building new networks and strengthening already build networks for awardees. SSBC also provides business development opportunities to awardees in relevant industry verticals.

Startup Drive

Startup Drive is a training programme for potential entrepreneurs who have a feasible business idea for their own small enterprise. The training helps in developing a detailed business plan and to actually get started. The training also provides an opportunity to test the required entrepreneurial skills. The Workbook uses an active, problem-centred learning approach which builds on what the potential entrepreneur already knows. It challenges the entrepreneur by introducing new market dynamics for example, short cases and graphic illustrations. It helps in devising a strategic business plan and guides in building organizational structure. It serves as a tool to compare planned versus actual results.

About Startup Drive

SSBC offers mentoring and coaching services to the selected startups via its well established network of entrepreneurs and helps the startups with services such as: 1. Legal and financial guidance2. Advisory services in business plans formulation and marketing strategies3. Relevant trainings and seminars for SSBC Awardees

Mentoring and Coaching

Specialized Curriculum

SSBC has developed specialized updated curriculum for awardees to follow that may result into better results and profitability.

About DICE-AFS

DICE-AFS is a focused strategic initiative of DICE Foundation USA which is led by University of Agriculture Faisalabad (UAF) in close collaboration with a consortium of selected universities, the Government institutes, Agriculture and Food Industry. The broader scope of DICE Agriculture and Food Sciences is to foster culture of innovation and entrepreneurship in the country and make it part of Nation’s DNA.

STUDENT STARTUP BUSINESS CENTER

08

STUDENT STARTUP BUSINESS CENTER

09

SSBC Model

Submissionof

Proposal

Element of InnovationMarketable Product/Service Justified by proper business plan

Selection

Selection ofviable ideas through various competitions e.g DICE-AFS

Training and

Mentoring

Team Development Management SkillsCoaching on all aspects of business

Growth

Business Development PartnershipHuman Resource Development

Monitoring

Financial and key Performance reportsFinancial and market health of business Royality Payment

- Should be student of University of Agriculture, Faisalabad

- Having viable startup idea and detailed business plan

- The applicant has good repute and reasonable experience in the relevant sector

- The applicant should not be defaulter of any financial institution or any

government duties or taxes

- The applicant has not been convicted in any civil or criminal case

Eligibility Criteria

Selection Process Once applications received from applicants following procedure is adopted for shorlisting.

Call for Applications Submit Application along with business plan

Presentation to selection committee

Short listings Funds Disbursement Continuous Monitoring and Evaluation

How to apply for Student Startup Program

- Online applications are available on http://oric.uaf.edu.pk/bic/ssbc- Visit Student Startup Business Center, Office of Research Innovation and

Commercialization (ORIC)/BIC, University of Agriculture, Faisalabad

Induction

Seed GrantProduct Development SupportCompany RegistrationMarket Testing

STUDENT STARTUP BUSINESS CENTER

10

STUDENT STARTUP BUSINESS CENTER

11

Determinants of Selection

Commercial Viability

Element of Innovation

Team

Presentation

Payback Plan 1. Awardee will make the university a 10% equity holder in the company or return

voluntarily an amount twice equivalent (received) to SSBC within 10 years of successfully establishing his/her business and thereafter donate 5% of each total sale/earnings to SSBC in perpetuity

2. Arrangement of payback amount shall be the sole responsibility of the Awardee3. The Awardee shall keep the exterior and interior of the building and other

structures comprised in the space in good and licensable condition and is liable to make good the loss if any in this respect

4. Awardee shall submit a quarterly progress report to SSBC officials

Graduation or Exit PolicyThe Awardee will be graduated out of the SSBC once it meets the following criteria:• Awardee has spent agreed duration at the incubator • Awardee has achieved milestones agreed in the business plan • Space requirement of the Awardee exceeds incubator capacity• If Awardee fails to meet the quarterly targets thrice in a calendar year• If the review committee decides that the project is no longer viable• If Awardee violates the tenancy agreement

If following conditions arise, then UAF shall have the right to terminate the contract:

• Violation of Student Startup Business Agreement

• Failure to provide regular quarterly progress• Non-payment of dues (if any)• Professional misconduct or unethical practices• The maturity / gradation certificate will be issued after completing the tenure or

as determined by UAF

Note: Before exiting the Awardee has to pay back the funds agreed in agreement.

Impact andOutcomes

Employment Generation

Contribution to Economic

Development

Drive social

change

Lifts standard of living

Commercialization of university

research

Promotion of small medium

enterprises

Development of high

technology value added

products

Bridges Academia Industry Gap

STUDENT STARTUP BUSINESS CENTER

12

Generate an innovative idea

Evaluate your idea

Market research

Validate customers

Develop a business plan

Apply for SSBC

Steps to Completed before Applying for

SSBC Program: