STAFF REPORT LHR: Researchers and innovators gathered at the 5th Invention to Innovation Summit 2016 and expo organised by Punjab University Office of Research Innovation and Commercialisation (ORIC) in collaboration with the University of Management and Technology (UMT) and Pakistan Science Foundation.
Addressing the ceremony, PU Vice Chancellor Dr Mujahid Kamran said that great nations are under the control of worlds financial elite due to concentration of wealth while around 1.5 billion Muslims of the world have almost no share in creation of new knowledge and these were the two problems the world is facing.
“The US has the GDP of $17 trillion and was spending from $850 to 1,000 billion on education while it was spending from $340 to 510 billion on research and development. Pakistans total GDP was around $250 billion while it was spending around 0.2 percent on RandD and less than 2 percent on education,” he added.
PSF Chairman Dr M. Ashraf said that technology was the engine of economy and PSF was funding applied scientific projects. “We wanted to support and highlight talent of young scientists. PSF would provide scholarships to 300 schoolchildren who wanted to become scientists and this project would be enhanced further.
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