News: CSF to establish business incubators
Name of the Newspaper: The Statesman
Date of publication: Friday, 31 August, 2007

ISLAMABAD: The Competiti veness Support Fund (CSF), under its Business IncubatOl's and Venture Capital window, would establish business incubators and promote venture capital to boost the knowledgedriven economy in Pakistan.

The business incubators would be established in the leading research institutions in Pakistan. said a CSF press release.

"CSF will also promote venture capital and encourage a number of relevant institutions to establish Business Incubators," it added. In the long term, the Business Incubators will be expected to meet their operational expenses through returns from their equity investments.
The Venture Capital window, among other things, will be used to promote the creation of Business Incubators and provide funding for their incubator programs. it added. However, Business Incubators will then make funds available to incubator companies and profits on the funds they receive for making loans and venture investments in incubates and incubator graduates.

The CSF has three operational windows, including the Technical Assistance, Matching Grants and Business Incubators/Venture Capital.

The Technical Assistance and Matching Grant windows of the fund are being supported by a grant of US$ 12 million by the USA, whereas the initiative of business incubators and venture capital will become operational by a matching grant of US$ 10 million contributed by the Government of Pakistan for the next 5 years.

To make business incubation and venture capital a success in Pakistan. CSF has now undertaken initiatives working closely with the Higher Educa': tion Commission of Pakistan (HEC) wl1ich is a paJ1ner organization of the CSF.

Another essential component of the undertaking was envisioned to establish business incubators.