Existence of a vibrant Entrepreneurial Culture has become an important factor, in the economic development of any Country. The relationship between entrepreneurship and economic growth is undeniable. Entrepreneurship is about wealth creation, about creating jobs by seizing opportunities. It is therefore the key factor for economic growth.

But the percentage of entrepreneurs in Pakistan is very low compared to the World Norms and more so in NWFP. We need to undertake concerted efforts to promote a vibrant entrepreneurial culture in the Province. 

In order to address this phenomenon, SMEDA NWFP has been working to develop a strategy on promoting Entrepreneurship & creating a vibrant entrepreneurial culture in the Province. The objective behind the creation of the strategy was to have a comprehensive plan of action for promotion of an entrepreneurial culture. It tries to bring together, all the initiatives that need to be taken, in order to promote entrepreneurship.

An attempt has been made to harness considerable diverse efforts and resources deployed presently, in to an action oriented whole. There is also an effort to balance and supplement short term fixes, with long term structural adjustments. Finally, the efforts were made to create an easy to implement, monitor and evaluate action plan.

To create and promote a vibrant “Entrepreneurial Culture” in the Province, different organizations are required to play their part. However, Universities & Higher Education Institutions play a very important and vital part in promotion of “Entrepreneurship” in developed countries. Setting up “Entrepreneurship Centers” in their premises is a means to this end.

SMEDA NWFP is assisting “Universities / Higher Education Institutions” in the Province to set up “Entrepreneurship Development Centers (EDC)”. For this purpose, it has developed Replicable Models of the “EDCs” to be established in different Universities / Higher Education Institutions. One model has been created for “Business Schools”, while the other has been customized for “Technical Institutions”.