The business incubation and Agricultural Entrepreneurship Center (BIAEC) facility have been established in the MNS-University of Agriculture, Multan, to support innovative business ideas and start-up companies in their initial development stage by providing an array of targeted resources and services. BIAEC is registered under the Higher Education Commission of Pakistan BIC establishment fund which supports new business ideas in training, seed money, prototype development and other business-related activities. Graduates of the business incubator program create jobs, revitalize neighborhoods, commercialize new technologies, and strengthen local and national economies. The academically affiliated business incubators help in transferring technology from universities and create a linkage of subject matter experts with the business community, a system for bringing technological advances and products to the market.
A business incubation program’s main goal is to produce successful firms that will leave the program financially viable and freestanding. Critical to the definition of an incubator is the provision of management guidance, technical assistance, and consulting tailored to the needs of new enterprises.