Technology and Innovation the Fastest Growing Knowledge-Based Economy: The President
On Thursday, the president (Dr. Arif Alwi) said:” the fastest way for Pakistan to emerge as a knowledge-based economy is to promote IT-based entrepreneurship”.
“Innovation and emerging technologies together can create new prospects for development and prosperity for Pakistan,” the president said at the inauguration of the National Idea Bank in Ivan Sadr.
The National Idea Bank – a collaboration among academia, government, and industry – is aimed at addressing indigenous problems using technology and innovations in business and governance models.
President Alvi said that, in the world of digitalization, Pakistan needed to establish a mechanism comprising thinkers and practitioners to identify innovative ideas for different organizations.
He confirmed that the National Idea Bank, as a knowledge-based system, would help to develop quickly.
He mentioned that innovative ideas could resolve an industry problem or a social challenge in a more effective and efficient way.
The President appreciated the efforts of Ministry of Information Technology and Telecommunications and Sir Syed University of Engineering and Technology Karachi for establishing the setup to accept ideas by the people on a regular pitch schedule.
He also expressed satisfaction over the growth of IT-related exports during last six months, terming it an important step in attaining rapid development.
Minister of IT Syed Amin ul Haque said:” the credit for the idea of National Identity Bank belonged to President Arif Alvi with the process patronized by IT ministry, hosted by Sir Syed University of Engineering and Technology, and funded by the incubation platform, Idealist”.
He said under Prime Minister’s vision of Digital Pakistan, the IT Ministry was taking steps in right direction and mentioned projects in progress including local manufacturing of smart phones and launch of e-parliament system with electronic tablets to replace file system by June.
Founder Idealist Hassan Syed said with 49 types of emerging technologies world over, there existed huge opportunity for Pakistan to create social and commercial value of products through innovation.
He said under the National Ideas Bank, a panel of independent and experienced judges will select a number of winning ideas for the national interest that are supported by partner organizations.
He said that the panel of judges would be formed on March 23, while the ideas would be showcased on August 14, the country’s Independence Day.
A Memorandum of Understanding between the Ministry of IT and Telecom and Sir Syed University of Engineering and Technology was signed in October to collaborate actively in collecting and supporting innovative ideas.