The era we are living in now has almost equal reputations for countries and companies. These companies are recognized by their scientifically researched technologies, products and services that used by the consumers and has become part of their living standards all around the world. Pakistan is basically not a technology-based country and exploring the path of knowledge economy via innovation and commercialization can help towards prospering and stronger Pakistan. Knowledge economy via research and development is essential for economic growth and prosperity of any country and the compact research work in the specified domain can help solve the most faced problems of a country with sustainable solutions. The growing capabilities of competitors in Europe, Asia, and elsewhere around the world increasingly challenge the ability of Pakistani firms and institutions to convert the nation’s science and technology base into a competitive advantage. Such concerns have prompted much debate about the proper role of universities in encouraging innovation and the commercialization of new technologies.