Italian Ambassador H E Alessandro Prunas during the first-ever Scale7 Demo Day.
The first-ever Scale7 Demo Day was conducted virtually yesterday themed “Walk Fashion, Think Investment,” where ten budding fashion brands presented their business plan to investors.
Among the labels include Hend Rumaihi, Fatima Asaid’s Loval by Fatima, Reem Al Shammri’s Witr Jewelry, Alanood Alhedfa’s Drizzle, Mohammed Al Hammadis’ Gahfia, Qumasha Abdallha’s Qalma, Hissa Haddad, Noora Alsharif’s Verve, Haifa Alabdallah’s Aadima, and Fajer Al Atiya’s Trifolgio.
Scale7 is Qatar’s first fashion and design business incubator, founded by Qatar Development Bank (QDB) in partnership with M7, aimed to focus awareness among start-ups.
In a speech, QDB Acting CEO Abdulrahman bin Hisham Al Suwaidi said: “Our Demo Day event is a culmination platform for start-ups and investors to find perfect partners in progress and expand their business horizons. In a very short span, Scale7 has achieved great success. This is proven by the excellent response we have been receiving for our various programs. As far as participating requests are concerned, our diversified programs have received more than 250 requests from applicants interested in benefiting from the provided training, workshops, incubation, and accelerations programs.”
“Looking at these numbers and new age talents, I am confident that together we will be able to contribute significantly towards the diversification of the national economy, as underlined in the Qatar National Vision 2030,” he added.
The Italian Embassy has also partnered in this event through Fashion Technology Accelerator, where Italian Ambassador H E Alessandro Prunas highlighted the fashion industries between his country and Qatar.
“The relationship between the Italian fashion industry and Qatar is actually old. Many people are aware that Valentino has been acquired by Mayhoola for investment, and this is actually a very successful investment in Valentino because it produced the growth of the fashion house,” he said.
Furthermore, the Ambassador said: “Scale7 is a project that is very close to our hearts because it avails itself of Italian consultant – Fashion Technology Accelerator is contributing to the success of this venture that is being promoted of Qatar Development Bank, M7, and Qatar Museums. I think this will be a success story because it will allow young Qatari entrepreneurs to actually develop their own skills. I am very proud that this is happening with the help of one of the leading Italian consultants’ industry so I can only praise this initiative and encourage to develop it even further.”
Fashion Technology Accelerator helps fashion tech start-ups to boost their value through a program to increase sales and brand awareness. It is based in Milan, Italy, and is now located in Silicon Valley, Seoul, and Doha.
