Small and Medium Enterprise Development Authority (Smeda) has signed agreement with Institute of Management-Sciences for collaboration in strengthening and enhancement of entrepreneurship activities in Khyber Pakhtunkhwa. The Institute of Management Sciences, Peshawar, properly known as IM-Sciences offers graduate and undergraduate programmes in management sciences, social sciences and computer science. The campus of the university is situated in Peshawar.
On behalf of Smeda, the memorandum of understanding (MoU) was signed by General Manager, Central Support, Mohammad Khuram Khan and provincial chief, Smeda, Khyber Pakhtunkhwa, Javed Iqbal Khattak, while IM-Sciences was represented by Director Dr Mohsin. The main purpose of the MoU is to establish a strong liaison and collaboration between the two parties. Both parties have agreed to work jointly for the development of small and medium enterprises sector in the region.
According to the terms and conditions both parties will collaborate in the areas of common interests to promote entrepreneurship and strengthen the small and medium business sector. Furthermore, the collaboration will work for the enhancement of entrepreneurship activities relevant to SME's in the area. These activities are not limited to only acceleration of the culture of entrepreneurship amongst students, youth and public at large, but will include carry out research for collection and dissemination of information required for supporting start up ventures and large businesses, provide technical and profession help and advice for nurturing of new enterprises, hold awareness sessions and motivational seminars for promoting the spirit of entrepreneurship among youth.
Furthermore, both parties will also collaborate in organising business plan competitions, workshops and training programmes, which foster entrepreneurship and build capacity of the SMEs in the region. It will also work for development of linkages between academia (both students and faculty) and industry, businesses and financial institutions, and procedures and markets, development linkages with the government institutions and help formulate policies, which facilitate the development of new enterprises.
Talking to this scribe, Provincial Chief, Smeda, Khyber Pakhtunkhwa, Javed Iqbal Khattak expressed the hope that the agreement would go long way in strengthening and promoting SME sector in the province. He also termed it a good step toward the promotion of public-private partnership in the region.
He said under the MoU, Smeda in collaboration with IM-Sciences would arrange entrepreneurship week for the students of the institution, which would be comprised business plan, declamation contest and exhibition of the innovative products of the young entrepreneurs. Those showing outstanding performance would be given commendation certificates, he added. Similarly, he said Smeda with the co-operation of IM-Sciences would organise workshops and seminars with targeted participation by the outgoing students.
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