National Textile University has signed an MoU with Small and Medium Enterprises Development Authority (SMEDA) and Higher Education Commission (HEC) for the initiation of pilot phase of National Idea Lab. The MoU signing ceremony was held on Tuesday, May 24, 2022 at HEC Secretariat, Islamabad. Prof. Dr. Tanveer Hussain, Rector NTU, Mr. Hashim Raza, CEO SMEDA and Dr. Shaista Sohail, Executive Director HEC signed the MoU. The MoU is aimed to execute the National Idea Lab initiative which has been designed to enhance cooperation on promoting entrepreneurship, innovation, and incubation. The National Idea Lab will develop a co-creative and supportive environment – which will encourage students' entrepreneurial intent and at the same time will support open innovation approach in collaboration with SMEs and the universities. The students and researchers will get the opportunity to develop and commercialize their ideas through entrepreneurship or in collaboration with existing SMEs