STAFF REPORT IBD: Indus Motor Company (IMC) and Pakistan Innovation Foundation (PIF) has started the one-year National Innovation Grand Challenge (NICG) 2013-14 in order to encourage Pakistani innovators, youth, students, professionals, entrepreneurs, and citizens to innovate various areas like agriculture, energy, rural development, and manufacturing.
The challenge invites creative minds from across the country to come up with unique and innovative ideas in two critical domains.
The first challenge is to develop a replicable, scalable and marketable product or process that enhances productivity, reduces energy requirement or reduces industrial waste by at least 33 per cent. The second challenge is to develop an innovative product, service, or tool that complements or enhances the utility of a manufactured product and has a compelling market potential and cost-performance profile for rapid commercialization in Pakistan. The Winners shall bag Rs. one million Open Innovation prize and Rs. 500,000 Dedicated Student Prize.
“The corporate sector has a special role to play in innovation…many of them have systems and processes in place to drive innovation internally…so they can help us in driving innovation projects across Pakistan,” said Saad Amanullah Khan, who the Chairman PIF and also the CEO of Gillette Pakistan.