Business Incubation, Tourism & Hospitality and Confucius Center-IMSciences, Peshawar
Business incubation, tourism & hospitality and Confucius Center is proposed to facilite national and international startups and mentor entrepreneurs and business organizations through this Center. The center will also help to promote linkages with Chinese universities and business communities and to promote tourism in the region.
The center will facilitate incubatees in terms of legal and financial management services to initiate, accelerate and sustain businesses. Tourism and Hospitality wing of the center will be based on two core activities; Academic programs such as certificate and diploma courses and degree programs in tourism and hospitality. Tourism and hospitality wing of the Center will also be utilized for practical exposure through the establishment of a guest house and sustainability of the Center.
Budget will be required for establishment, financing operational expenses and initially sustainability fund for the center for a minimum period of 3 years. The total cost is Rs.407 million.
Investors who are willing to invest in incubation center will get 5 % of equity in the startups (as per general practices). Chinese universities with IMSciences can start joint programs in tourism and hospitality on mutually agreed terms. Chinese universities can send their faculty and research students to learn about local culture, business environment, identification of beneficial businesses and get practical exposure and vice versa.
The Institute of Management Sciences is a leading business school of the province and country. We have already initiated an IT incubation center. It is a consortium of four universities. We have a leading role in it.