The Center for Entrepreneurial Leadership and Incubation, at the Sukkur Institute of Business Administration, is just one of many incubation centers popping up in universities across the country. This push for a more entrepreneurial mindset is a result of both private and public funding.
Abbreviated as CELInc, the Center for Entrepreneurial Leadership and Incubation aims to nourish and accelerate entrepreneurial ventures from within the Sukkur IBA community. They plan to do this by providing business support services, as well as resources, through their network of contacts within the academic and business community. All of this is done to increase the success of startups launched by those within the Sukkur IBA community.
”To cultivate principled entrepreneurial leaders while providing students a broad array of academic and experiential programs, supporting dozens of exciting courses, a business incubator, full-time internships, business plan and concept competitions, workshops, boot camps, mentor ship opportunities, and scholarships and creating a vibrant ecosystem by engaging leading entrepreneurs and innovators, top-ranked faculty, and a vast and loyal alumni network”.
What Are They Looking For?
The main criterion for selection is that the startups have a measurable social and environmental impact. They are also not interested in startups that are not financial viable in the long-run, i.e., those that will need donations for the duration of their existence. Startups can be for-profit or non-profit. The CELInc look for seed-stage models, and helps them grow by offering consultation, business support and mentorship.
The Entrepreneurship Development program is one of the programs offered at Sukkur IBA CELInc. It is organized in partnership with the Sindh Board of Investment. It includes a 6-month diploma, which includes 4 months in-class and 2 months applied field work. Attendees are taught business management, which include marketing, finance and computing.
MBA students at Sukkur IBA initiated Mehsas Collection which sells cultural fashion, handicrafts, hijabs and scarves. Sukkur IBA helped by initially funding the project, helping establish a business plan, helping with the test launch, getting contracts with garment stores in the area, establishing an e-commerce store and advising them on online marketing.
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CELInc organizes a number of events and workshops throughout the year to help entrepreneurs and students who are interested in becoming entrepreneurs. IDEA 2014 “Spark of Innovation” was one such event where potential entrepreneurs presented their innovative ideas, with the winners joining the incubator.
“At Sukkur IBA because of emphasis on entrepreneurship and the activities and programs of the Center for Entrepreneurship Leadership and Incubation we can already see the birth of an entrepreneurial eco-system take place. Several entrepreneurial ventures have been started by the University as well as the Sukkur IBA community. I congratulate our Entrepreneurship & Incubation department team for initiating research in the important field of Entrepreneurship. I hope this will prove to be the beginning of a great revolution in the economic uplifting of Pakistan.” – Message from Director Sukkur IBA
The Business Incubation Center offers the following facilities:
- Help with business plans
- Help with financial management
- Access to funds, including bank loans and venture capital
- Advisory board and mentors