Pakistan Science Foundation has invited innovative proposals from researchers from academia or industry for developing economically viable new technology, product and system of processes under the National Technology Innovation Fund.
NITF is an initiative of PSF to bring together Academia, Research Centre and Industry for economic growth through innovations, applications of emerging technologies and subsequent commercialisation of value-added products, an official from PSF told media on Sunday.
Pakistan Science Foundation under NTIF intends to provide funding upto 25 millions to individual researcher or group of researchers from academia and/or industry with innovative proposals in 4th Industrial Revolution Technologies.
The applicant proposal may result in developing economically viable new technology, product and system of processes.
Through this initiative, the academia, research centre and industry are twining for successful commertialisation through innovation.
The proposal related to product development and their commercialisation, utilizing one or more of the thematic areas to solve local community problems and targets to reach global standards of innovation will be preferred. Proposals focusing on basic research will not be entertained, the official informed.
Principal Investigator must be a researcher from Public Sector institution. Project team may include researcher from industry or private sector. However funds will be released to public sector organizations by PSF.