“PROFESSIONAL BUSINESS PROPOSAL AND COMMERCIALIZATION”
Class Room # 07, 153 Campus SZABIST Karachi
Thursday the September 01, 2022
“Writing a business plan is an opportunity to carefully think through every step of starting your company so you can prepare for success. This is your chance to discover any weaknesses in your business idea, identify opportunities you may not have considered, and plan how you will deal with challenges that are likely to arise.”
Dr. Bilal the Director ORIC SZABIST described in the session held on Thursday, the September 01, 2022 at Class Room No. 07, SZABIST 153 Campus Clifton Karachi.
The students of SZABIST Larkana Campus were participated through Zoom video link in this session.
He explained that a professional startup business plan resolve the following problems:
1. It can help convince investors or lenders to finance your business;
2. It can persuade partners or key employees to join your company;
3. Most importantly, it serves as a roadmap guiding the launch and growth of your new
business.
Be honest with yourself as you work through your business plan. Don’t gloss over potential problems; instead, figure out solutions.
A good business plan is clear and concise. A person outside of your industry should be able to understand it. Avoid overusing industry jargon or terminology.
Most of the time involved in writing your plan should be spent researching and thinking. Make sure to document your research, including the sources of any information you include. Avoid making unsubstantiated claims or sweeping statements. Investors, lenders and others reading your plan will want to see realistic projections and expect your assumptions to be supported with facts.
Dr. Bilal pointed out in his demonstration that “Refining Your Plan,” is very important step since it explains ways you may need to modify your plan for specific purposes, such as getting a bank loan, or for specific industries, such as retail.
In the end he pointed out “Proofread your completed plan (or have someone proofread it for you) to make sure it’s free of spelling and grammatical errors and that all figures are accurate”.
Mr. Shoaib Ali Shah the focal person of ORIC and faculty member of Larkana campus presented the vote of thanks to Dr. Bilal and pointed out that this session will not only the FYP students who participated in Zeb e fest 2022 but also it will help the faculty members of SZABIST Larkana Campus.
He also congratulate Mr. Nayyar Ahmed Siddiqui, the Research Associate of ORIC SZABIST upon the successful organization of this session.
Finally, session ended upon the commitment that FYP students will submit their business plan at the end of this month.
Preparatory Meeting with Head of Departments (HODs) of SZABIST on FYP Conference held on January 13, 2022 at 99 Campus Meeting Room
News
To encourage the efforts of the student not only in terms of grading but also in terms of rewarding, ORIC started an initiative to organize a Final Year Project Conference (FYP Conference). This initiative would provide an opportunity to the final year students to explore further collaboration and establish their link with the industry.
In order to align this objective an internal meeting was hosted by ORIC SZABIST in “99 Campus Meeting Room” with the Head of Departments (HODs) of SZABIST Karachi. The objective of this meeting was to align the modalities of FYP Conference.
Addressing with the HODs Dr. Bilal said main purpose behind establishing ORICs was to manage intellectual assets from academia and converting them into technologies for strengthening industry and giving benefits to broader society, thus, ORICs are expected to intensely perform in key domains like applied research, innovation, and commercialization through collaborations with industries as well as driving entrepreneurship clusters.
Commercialization is one of most important functions of ORIC as it involves developing commercial feasibilities and business plans, finding partnerships for research projects and also during the technology / product development phase, exploring new opportunities for contract research and marketing technologies / patents. FYP Conference is a startup effort from ORIC to encourage undergraduate students into the activity of Commercialization.
Similarly, industry has very little experience of working with academia to carry out joint technology / product development projects. Moreover, trust deficit also exists between academia and industry given the different motivations of the two key stakeholders. The trust gap widens when industry and academia does not interact with each other or a joint effort does not succeed. Regular interaction and exchange of ideas between faculty and industry minimize the trust gap. In this context FYP Conference would be a beneficial event to link industry with the academia.
