National Idea Bank is (NIB) a collaboration between Academia, Government, Industry and society to identify and showcase innovative ideas to solve indigenous problems using technology and innovations in business and governance models. NIB is founded to identify and build a repository of innovative ideas for recognition and support. Inaugurated by the president of pakistan, Dr. Arif Alvi, on February 4, 2021.
This system conducted its first national idea competition in 2021 followed by a grand finale event of prize distribution to the national winners on January 27th, 2022 in presence of the honorable president Dr. Arif Alvi.
“Innovation and emerging technologies together can open up new vistas of development and prosperity for Pakistan,” the President said at the inauguration of National Idea Bank, here at the Aiwan-e-Sadr, said a statement issued by President’s media wing.
President Alvi said in the world of digitalisation, Pakistan needed to establish a mechanism comprising thinkers and practitioners to identify innovative ideas for different organisations. He expressed confidence that National Ideas Bank as a knowledge-intensive system would contribute to rapid pace of development compared with the conventional brick and mortar setups.
He said innovative ideas could resolve an industry problem or a social challenge in a more effective and efficient way. He also stated that every knowledge-based product starts with an idea to improve quality of life on planet.
NIB enables Pakistan to become a globally recognized ecosystem that fosters scientific research and commercialization of innovative ideas in emerging technologies to help grow a knowledge-based economy.
According to National Idea Bank