Islamabad: OIC Standing Committee for Scientific & Technological Cooperation (Comstech) has launched a Virtual Incubator for Science-based Businesses (VISB) for the Islamic World.
The Incubator will help companies, research institutions and scientists in the Organisation of Islamic Conference (OIC) member states to transfer their home-grown technologies to other OIC countries.
The terms of technology transfer will be mutually acceptable to both the parties, and could include sharing royalties or setting up joint venture partnerships. VISB is a pioneering initiative launched by Comstech that aims at strengthening links between scientific research and business development through promoting interactions between researchers and industry as well as investors, who can translate potential scientific ideas and technological solutions into viable breakthrough products.
Some OIC member countries have started to make good progress in developing science and technology. However, industrial communities within the OIC region normally tend to acquire technology on turn-key basis from the West, although, there is much that can be shared among them.
"We hope that VISB will prove to be an important step in creating technological self-reliance in OIC member states," said Dr Atta-ur-Rahman, Coordinator General Comstech, in his message. Comstech, the 57-country science cooperation body of OIC, has also announced the launch of the first issue of the VISB e-monthly bulletin entitled 'Empowering Innovation for Development'.
Spokesman of Comstech Ameen Amjad said an e-library titled 'Scientific Ideas for Investors: Turn Potential into Profits' is also being established that would list potential scientific ideas to be translated into viable breakthrough products. These ideas would be presented to investors and the private sector to be further developed.
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