DOHA: Award-winning SMEs organisation, Qatar Development Bank (QDB), and Social Development Centre (SDC), member of Qatar Foundation, have recently organised a stakeholders’ workshop for the proposed Qatar Business Incubator (QBI). The workshop saw in attendance scores of entrepreneurs, representatives of SMEs and large corporations, banks, government institutions and the NGO sector.
QBI is a strategic joint venture between QDB and SDC launched in November 2011 and is the first mixed-use incubator in the region. It is poised to be the largest incubator in the Arab world accommodating, during its initial phase, up to 90 entrepreneurs in Qatar at Al Bidaa Park.
Abdulaziz Al Khalifa, Executive Director, Strategic Planning and Control, QDB said in his opening speech: “QDB and SDC are taking the first steps towards making Qatar Business Incubator a reality in order to accommodate entrepreneurs in the very near future. As the first of its kind in the country, QBI is a project of national interest and is fully aligned with Qatar National Vision 2030. It is being developed just in time to promote local enterprises and to cater to the needs of Qatar’s major existing and upcoming development.” Abdulaziz emphasized the significance of an active engagement of all stakeholders in order to strongly contribute to the growth of the private sector and particularly a solid ecosystem for SMEs and entrepreneurship.
Munther Al Dawood said that such an initiative is a true example of strategic partnerships. Al Dawood emphasized on the significant role QBI will play in the development of the local sector in line with the Qatar National Vision 2030. Al Dawood also added that SDC is committed to supporting entrepreneurs and SMEs through a range of customized programmes wishing continued success to all participants of the workshops.
Amna Al Sultan, Business Counselor, QDB, provided an in-depth overview of the key objectives and outcomes of the QBI.
QDB and SDC led a series of industry-driven presentations based simulated by real-life examples and experiences, followed by a workshop in which the participants were divided into four groups to allow for a comprehensive discussion of issues related to growth entrepreneurs, market opportunities, ecosystem and technology.
Speaking experts shed further light on the benefits of business incubators citing that most of the new businesses don’t succeed, but 80 percent of incubator’s clients don’t fail. Experts added that business incubation is a public and/or private, entrepreneurial, economic and social development process designed to nurture businesses from idea generation to start-up companies and, through a comprehensive business support program. It helps them establish and accelerate their growth and success.”
The Peninsula
