NUST's Science and Technology Park now open for business

ISLAMABAD: Science and Technology Park, developed by National University of Sciences and Technology (NUST) in Islamabad, has opened doors to its first resident companies.

Fully university hosted and integrated across a 50-acre site, the park aims to enhance and increase research and development, promote linkages between higher education institutes, R&D centres and international industries; and capitalize on their strengths and abilities to create a knowledge-based multi-sector cluster in Pakistan.

A self-funded project, NSTP currently offers three buildings with a combined covered area of over 120,000 square feet surrounded by some of country's top universities, businesses and industries.

Over 70% of all S&T research work in Pakistan is conducted within a 30-mile radius of the park, which will focus on Edtech, Agritech, Fintech, Autotech, Healthtech, Deftech, Energytech and Smartech, each with its corresponding educational establishment nearby.

Multinational anchor companies are the driving force behind these key sectors and are provided with a distinctive space and opportunities connect with other tenants of the park and the university, which include innovative tech-based SMEs and startups both local and international.

These growing companies are offered subsidized or free work space, free training and mentorships, and funding opportunities through the NSTP Angel Investment Network.

The park already has strong international links via participation in the China Pakistan Economic Corridor( CPEC) , and a partnership with the China Pakistan Technology Transfer Centre which seeks to create innovation and investment from many companies located along the corridor.

It also benefits from a Special Economic Zone status, enabling residents to import critical infrastructure and machinery free of taxes.

Startups, high-tech SMEs, innovation centres of large multinationals and corporations, and business innovation hubs can apply for tenancy.