Sir Syed University organized NIB Grand Finale Muslims are afraid of new knowledge: President Arif Alvi Chancellor SSUE&T says there are vast opportunities for creative investment in Pakistan

The President of Pakistan, Dr. Arif Alvi has said countries that want to develop and prosper focus on education and health, keeping them at top priority. Without education and health, nations cannot develop and grow. Muslims are afraid of any new knowledge.
He was speaking at the grand finale ceremony of National Idea Bank, organized by Sir Syed University of Engineering & Technology.
President Arif Alvi said that developed nations don’t depend on natural resources, as much as on intellectual resources. Nigeria has immense oil, but it is unable to convert oil wealth into intellectual wealth and prosperity. In the eyes of Hakeem, the root cause of all diseases is digestive disorder. I think our country’s digestion is also not so good. Wrong decisions made this country fall.
Federal Minister of Information Technology and Telecommunication, Syed Amin Ul Haque, said that when I took over the ministry, we had assets of 73 billion dollars, which we increased to 500 billion dollars in three years. 42 billion rupees were invested in startups. Similarly, 5 billion dollars and 75 billion dollars were invested in various projects. We introduced 29 companies. Information technology exports increased by 3 billion dollars. We provided 10,000 jobs.
Addressing the ceremony, Chancellor of Sir Syed University of Engineering & Technology (SSUET), Jawaid Anwar, said that Sir Syed University was selected as the National Host for the National Idea Bank (NIB) project on the basis of its outstanding performance and we lived up to expectations. The establishment of National Idea Bank is an important step towards the promotion of new and innovative concepts and ideas. Our youth often have the best ideas in their minds. But due to lack of resources and absence of a proper platform, their dreams remain incomplete. NIB provides them with the opportunity to make their dreams come true.
He said that due to rising inflation, poverty and lack of resources, it is hard to get employment, almost impossible. In this context, entrepreneurship will be of great help to the youth at the grassroots level in solving economic problems in the coming times. We should be aware of the fact that time is changing. Now the function of universities is not only to award degrees but to guide students towards entrepreneurship and self-employment. Starting a business requires investment of time and resources as well as new ideas and fresh thinking. The purpose of National Idea Bank is to nurture new ideas. The journey that started at the local level has now become a pyramid at the national level, ensuring the involvement of the creators from all over Pakistan.
Chancellor Jawaid Anwar said that it is a good sign that, despite the recession, there are vast opportunities for creative investment in Pakistan. The investment of venture capitalists in Pakistani start-ups has increased many times due to which it has become possible for small entrepreneurs to make their dreams come true. We have to convince our youth to follow this direction.
Vice Chancellor SSUET, Prof. Dr. Vali Uddin said that we have successfully completed the first round of the National Idea Bank and this is the last event of the second round as well. New ideas were collected from all over the country through the National Idea Bank. A panel of judges from various disciplines selected the projects for the awards on the basis of merit with the utmost transparency, keeping in mind the utility, commercial value and vision of the projects. is playing an active role, the results of which are very promising for the country and the nation. These ideas based on new and innovative thinking are playing an important role in establishing a strong and stable economy.
Chairperson ASPIRE Pakistan and Founder of NIB, Hassan Syed, said that we want to accelerate the growth of the knowledge economy in Pakistan by leading the innovation and entrepreneurial ecosystem, while connecting stakeholders and creating socioeconomic prosperity in an equitable and sustainable manner. For the second NIB competition we received around 4000 projects, among which we short listed to 300.