COMSTECH Launches Virtual Incubator for Science-based Businesses

(Islamabad), July 14: OIC Standing Committee for Scientific and Technological Cooperation (COMSTECH) has launched a Virtual Incubator for Science-based Businesses (VISB) for the Islamic World.

VISB will help OIC member states’ companies, research institutions and scientists to transfer their homegrown technologies to other OIC countries. The terms of technology transfer will be mutually acceptable to both parties, and could include sharing royalties or setting up joint venture partnerships.

VISB is a pioneering initiative launched by the COMSTECH which aimed at strengthening links between scientific research and business development through promoting interaction between researchers and industry as well as investors who can translate potential scientific ideas and technological solutions into viable breakthrough products.

The VISB has been launched in view of the fact that the road to progress for OIC member countries lies in developing dynamic knowledge-based innovation societies.

Some OIC member countries have started to make good progress in developing science and technology. However, the industrial communities within the OIC region normally tend to acquire technology on turn-key basis from the West although there is much that can be shared among them.

“We hope that the VISB will prove to be an important step in creating technological self-reliance in OIC member states.” Dr. Atta-ur-Rahman, Coordinator General COMSTECH, said in his message.

COMSTECH, the 57-country science cooperation body of the Organization of Islamic Conference has also announced the launch of the first issue of e-monthly bulletin of the Virtual Incubator for Science-based Business (VISB) entitled "empowering innovation for development"

COMSTECH is also establishing an e-library titled “Scientific Ideas for Investors…Turn Potential into Profits” which will list potential scientific ideas that could be translated into viable breakthrough products. These ideas will be presented to investors and private sector to develop them.

Under COMSTECH’s VISB initiative, “Ask the Experts” service is also being established which will help potential investors and the science-based private sector to acquire, adopt and upgrade technology. www.visbdev.net is the dedicated website for this COMSTECH initiative for the Islamic world. Queries may be directed to comstech@comstech.org.

By: M. Ameen Amjad, COMSTECH Media Manager

ameen.amjad@comstech.org

IDB and the University of Cambridge Launch a Joint Scholarship Program

IDB-University of Cambridge Joint Scholarship Program

Islamic Development Bank (IDB) and the Cambridge Commonwealth Trust and Cambridge Overseas Trust have signed a Memorandum of Understanding (MoU) on April 9, 2009 to launch the IDB-Cambridge International Scholarship Program. The signing ceremony as held in the Cambridge, England was attended by senior officials of the university and the IDB.

The joint program has been launched within the scope of IDB Merit Scholarship Program for Science and Hi-Technology to place talented and meritorious students from IDB member states and Muslim communities in non-member countries for 3-year Ph.D. study and research at the University of Cambridge.

This joint program with the Cambridge University, the second top-ranked university of the world in research and higher education, would significantly contribute to the human resources development of IDB member states. In his speech during the ceremony, Dr. Ahmed Mohamed Ali, President of the IDB, stressed that such partnership with an outstanding institution of knowledge would help build future leaders in OIC member states.

The Vice Chancellor of the University of Cambridge termed launching of this joint program as a new dimension of the university activities to reach out emerging and developing countries. She emphasized that the university has a moral role to play to harmonize relationship between developed and developing nations to cater for world peace and stability. She hoped that this partnership is an important step to achieve that aim.

Science and Technology Office of the Islamic Development Bank has already in place a number of scholarship programs for nationals of the OIC member states. IDB-COMSTECH MSc Scholarship Program is one of those initiatives the Bank has taken to make science and technology the driving engine for development in the OIC region. In this regard, COMSTECH and IDB share the vision and have a greater level of cooperation.

Originally reported by: Ameen Amjad for printed copy of monthly COMSTECH News.

Islamic Development Bank Announces Winners of the Prize for Science and Technology

(Islamabad) April 30, 2009 (Latest news release from the COMSTECH Secretariat, Islamabad)

Science and Technology Office of the Islamic Development Bank (IDB) has announced winners of the 7TH edition of the Prize for Science & Technology as determined by its Selection Committee which met from April 04-05, 2009 in Jeddah, Kingdom of Saudi Arabia. A total of 124 applications were screened.

First category of the prize is about institutions having achieved outstanding scientific or technological contribution to the development of a member country. The prize for this category has been won by University Putra Malaysia, located in Selangor, Malaysia.

The second category of the prize which is for the institutions having achieved outstanding contribution to a given scientific discipline was achieved by Department of Physics, Middle East Technology University (METU), situated in Ankara, Republic of Turkey.

The third category of the prize, as awarded to International Center for Diarrheal Diseases Research, located in Dhaka, People’s Republic of Bangladesh, is specified for noted scientific research institutions in IDB least developed member countries.

The Prize, which consists of a cash award of US$ 100,000/, and a certificate, shall be presented to the winners during a ceremony on the occasion of the 34th Annual Meeting of the IDB Board of Governors scheduled to take place during 2-3 June 2009 in Ashgabat, the Republic of Turkmenistan.

IDB, through its Office on Science and Technology, is working towards increased financial assistance to member countries for science and technology projects and programs. The IDB launched this Prize in 1422H (2001) to promote scientific talent and excellence in the S&T education in R&D institutions of its member countries. The objectives of Prize are to promote sound and fruitful competition among the S&T education and research institutions in the member states.

Reported originally by Ameen Amjad for “COMSTECH News”