He said the BIC, which would soon be inaugurated, was to help bridge the gap between the business community and academia as well as strengthen the University's community relations and outreach programmes.
He announced this at the weekend during the climax of the graduation ceremony of 19th congregation for post-graduate students of the university in its Dungu campus near Tamale.
This follows the university's graduation ceremony organized last week for both undergraduate and diploma students from all the four Campuses where President Nana Akuffo-Addo announced cabinet’s approval of converting the Wa and Navrongo campuses of UDS into autonomous universities.
Out of 5,766 students graduating, 162 were postgraduate students including five PhDs who graduated with doctorate and master of philosophy degrees in various academic fields.
Some citations were also read and conferred in honour of some well deserving students during the ceremony.
Professor Teye said the total number of registered UDS first year students for the 2018/2019 academic year was 6,991comprising of 5,445 regular undergraduate and diploma, 1,155 distance education and 391 post graduate students.
He said this has marked an increase in the number of female students admitted in the university, noting that the number of female students admitted on the Tamale campus exceeded that of the males.
He said the university has put in place E-counseling services to enhance effective interactions between students and the university via the internet.
Professor Teye congratulated the graduates and advised them to let the unique quality training they had received reflect in their daily lives and in all their private and professional relationship to help in the development of the nation.
Mr Nutifafa Kuenyehia, Chairman of the Governing Council of UDS, acknowledged the efforts of both past and present governments as well as local and international organisations towards the development of the university since its establishment.
He also acknowledged the significant pronouncement of the President to make the Wa and the Navrongo campuses to be granted autonomy and assured all stakeholders that the UDS governing council and management would lend every support to facilitate the execution of the processes.
Mr Kuenyehia said the university was, however, saddled with inadequate infrastructure on all the campuses as well as lack of funding to facilitate research and staff development and appealed to government for support.
He said the provision of infrastructure development of the four campuses would help to adequately prepare the university to admit the 2020 Senior High School students who were currently enjoying free education.
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