We at TICK firmly believe in changing the national and individual fortune by familiarizing and exposing students to the Entrepreneurial Ventures and Startup Culture. We do this by providing students with the required infrastructure, office space, mentoring and consultancy to nourish their ideas from infant seed stage to the flourished high growth venture. We happen to be the Technology Incubation Center by Khwarizimi Institute of Computer Sciences, UET Lahore
Our Mission is to create Startups, foster Innovation and Entrepreneurship among students to channelize their creativity for their better tomorrow. Because with proper guidance and mentor ship, even a small amount of seed money can prove to be a great Launchpad and make a huge difference when surrounded by right resources. Hence, this way we can create exceptional companies by the leverage of knowledge, experience and infrastructure.
We are hybrid in our approach, we partner with early stage technology based and product startups, help them grow and create an impact on societal level by solving some problem. We also help these nascent ventures to commercialize, gain traction, and connect them with industry and investors. Our main emphasis is on the success of these incubated ventures. We aim to achieve it by continuous guidance, monitoring and ensuring an increasing growth rate .
Our incubation period is of 3 months in which there will be constant evaluation, monitoring and performance appraisals of the incubated team. This period of time will serve as a litmus test for the commitment, passion and growth of the team, whereas this is an ample duration to validate the business idea and model. If an incubated company shows good signs of growth, their incubation period can be extended according to the need.
Mission and Objectives
Following are our missions and objectives we aim to achieve;
- To create a startup ecosystem
- Employment & wealth creation
- Supporting small startups with high growth potential
- Transfer of Technology
- Promoting and nurturing Innovation
- Enhancing the links between universities, research institutions and business community
- By placing incubated like minded startups close to each other in proximity also facilitates the transfer of knowledge both formally and informally.
- To get startups past the first phase by providing them Launchpad.
Our Core Principles
We ought to commit to the two core principles of business incubation. These principles of ours characterizing effective business incubation are as follow:
- Maximizing the success of emerging companies.
- Dynamic model of a sustainable operations
At strategic and operational level, we intend to perform the following;
- Develop a strategic plan containing quantifiable objectives to achieve the program mission
- Structure for financial sustainability
- Build an effective board of directors committed to the incubator’s mission and to maximizing management’s role in developing successful companies
- Build and influential Board of Advisors for the very same purpose.
- Develop stakeholder support, including a resource network that helps the incubation program’s client companies and supports the incubator’s mission and operations
- Prioritize management time to place the greatest emphasis on client assistance, including proactive advising and guidance that results in company success and wealth creation
- Maintain a management information system and collect statistics and other information necessary for ongoing program evaluation, thus improving a program’s effectiveness and allowing it to evolve with the needs of the clients
What do we provide to our Incubatees?
Following are the perks that we will provide;
|Office||Office with basics|
|Time Period||3 months subject to extension|
|Utilities||Miscellaneous, Internet, Servers etc|
|Business Support||Mentoring sessions|
|Technical Support||Connection with the concerned experts|
|Access to UET Faculty & Labs||For experimentation and guidance|
|Industrial Linkage||For commercialization|
|Linkage with Investors and VCs||For investment purposes|
|Initial Traction Engine||For initial success and sales|