"Fuel Saving Kit" achieved 4th Position in LUMS Enterprenuership Contest
September 26th, 2014 | Technology Times | No Comments
Once again the students of Industrial Engineering department at University of Management and Technology Lahore proved themselves at national level in the area of entrepreneurship as they achieve 4th position at the LUMS Entrepreneurial Challenge held on September 21, 2014. A total of 17 teams from prestigious universities including PIEAS, NUST, FAST, GIKI and LUMS also participated in the 2-day competition.
After being shortlisted in the first round, Ammar Hussain (an Industrial Engineering graduate from UMT and a member of Pakistan Society of Industrial Engineers) performed well in the tough and challenging second round with his ingenious fuel saving kit using hydrogen cell meant diesel generators. The idea was especially liked by judges and they are hopeful to provide support for this project at LUMS.
Ammar Hussain was supported by Center for Entrepreneurship and Innovation (CENTIN) at University of Management and Technology, Lahore. Asher Ramish, the Director CENTIN, highly appreciated his team for their outstanding performance at the competition. And wished them success in their future endeavours.
“I am thankful to UMT administration, especially Prof. Asher Ramish and Dr. Hussain Sohaib Murad (Rector UMT), for providing us the support and appreciating our efforts.” remarked Ammar Hussain.
LUMS has offered the following benefits to the winning teams:
1. Stipend (20k each member) up to 4 months in return of 7.5% equity in their ventures
2. Mentor-ship and Marketing Assistance without any fee.
3. All other services which are included in Incubation Program.
It is indeed a moment of pleasure and pride for the Pakistani industrial engineering community that students are using their mix of technical and managerial knowledge to come up with innovative solutions to solve country’s problems. This shows that industrial engineering is indeed destined to become one of the most prominent, interesting and advanced engineering program in coming years and will produce professionals who are highly competent and will contribute productive and efficient solutions to our people.
Short Link: http://www.technologytimes.pk/?p=12087