Technology Venture Commercialization – TVC Seminar Report

The seminar was held at Mehran University of Engineering & Technology (MUET) and was attended by faculty members from MUET and other institutions of higher learning. The keynote speaker, Dr. Zeeshan Khatri, an Associate Professor from the Textile Department at MUET, delivered a presentation on "How to Transform Ideas into a Viable Business." Dr. Khatri emphasized the significance of technology venture commercialization in revenue generation and financial sustainability for educational and research institutions. He explained that entrepreneurship starts with the generation of a new, unique, and feasible business idea and that successful conversion of an idea into a viable business largely depends on the feasibility of the idea. Dr. Khatri introduced the concept of idea incubation centers, which play a pivotal role in the development of entrepreneurship and the national economy. He highlighted the importance of collaboration between academia and business entities to propose technology-led solutions to overcome challenges of water scarcity, quality, access, and management. The Standing Committee on Business Academia Collaboration on Water aims to facilitate building, strengthening, and sustaining this relationship. The seminar aimed to provide insight on "How to transform ideas into a viable business" and was effective for faculty members with entrepreneurial mindsets who have innovative ideas related to the field of engineering and technology but face difficulties in execution or translating those ideas into actions. The talk revolved around questions and areas such as idea generation, risk assessment, funding, and team building. Prof. Dr. Mohammad Aslam Chaudhry, the Guest of Honor, expressed his thoughts on the importance of creating strong ties between industry and academia in developing economies. He highlighted the success of the University of Utah in generating business models and assured support from UU for TVC perspective efforts being taken by MUET in Pakistan. Prof. Dr. Tauha Hussain Ali, Pro-Vice Chancellor MUET, emphasized the need to transform ideas into reality by inventions of innovative technology and products. He highlighted the facilities provided by MUET for academic, TVC, and research activities. The seminar was a significant step towards promoting entrepreneurship, TVC, and a culture of sharing ideas in the university. It aimed to raise awareness and sensitization around the importance of entrepreneurship and technology commercialization, and to provide a platform for faculty members to share their ideas and learn from each other.