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Posted On: 10 March 2014 04:02 pm
Updated On: 12 November 2020 01:51 pm

QDB and SDC Launch Largest Mixed Business Incubator in the Middle East

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The 20,000 square meter Qatar Business Incubation Center (QBIC) – the largest business incubator facility in the Middle East – was launched in Doha’s industrial area today.

The mixed use incubator is part of a wider public and government push to support and encourage Qatari entrepreneurs to build and grow businesses. QBIC was founded by two of Qatar’s leading government institutions supporting local entrepreneurs: Qatar Development Bank (QDB) and the Social Development Center (SDC), member of Qatar Foundation. QBIC’ goal is to develop the next 100 Million QAR companies and success stories in Qatar. QBIC empowers entrepreneurs to start and grow companies through training, mentorship, incubation, networking and investment.

QBIC’s objectives include developing Qatari companies through promotion of entrepreneurship and best-in-class business ethics, helping create Qatar’s next-generation of successful entrepreneurs, business leaders, start-ups and scale-ups.

“Qatar Development Bank believes that with the launch of QBIC comes a new milestone for entrepreneurship and the Qatari economy. I believe we are witnessing a transformation, providing entrepreneurs the resources needed to turn dreams into reality” said Mr. Abdulaziz bin Nasser Al Khalifa, the Chairman of QBIC and Chief Executive Officer of QDB.

And in a speech by Ms. Amal Al Mannai, Executive Director of Social Development Center (SDC): “It was SDC’s honor to have the initiative to adopt the entrepreneurship program within the youth and women societies towards encouraging them into production and business development, particularly startup and scale-up projects. We believe that these projects will strengthen the national economy, enhance income and build a better lifestyle for Qataris”.

“The entrepreneurship program has been initiated in 2001 and continued on a consistent growth and development pace accordingly with an accumulative scientific vision to include all technical and material support at the entire program phases. The program has provided services included entrepreneurship promotional campaign, encouragement, required training on local and international market feasibilities, emergency and technical consultations and follow up”.

“QBIC has been established with a budget that exceeds QR 100 million. It has been designed by implementing a modern and scientific benchmark to fulfill entrepreneurs’demands, office space, industrial workshops, and administrative and technical support. This qualifies QBIC to play an essential role to develop Qatar business sector”.

“We are grateful and thankful to those who have participated from SDC and QDB in QBIC success. Without the government faith and support, QBIC wouldn’t have existed. Our gratitude goes to H.E Mr. Abdallah Bin Hamad Al Attiyah, ex-Minister of energy and industry, and H.E Dr. Mohammed Bin Saleh Al Sada, the Minister of energy and industry. The best gratitude goes also to SDC board members, SDC team as well to QDB top management and executives represented by QDB CEO Mr. Abdulaziz Al Khalifa for taking the full responsibility as a chairman of QBIC, my colleagues in QBIC board and the CEO of QBIC Mr. Raed Al Emadi”: said Ms. Amal Al Mannai.

“Our mission is to develop Qatari companies valued at 100 million QAR. QBIC provides incubator space for entrepreneurs and scale-ups to carry out their work with their teams. In addition, we provide balanced training courses that enrich both knowledge and expertise,” said Mr. Raed Al Emadi, Chief Executive Officer of QBIC.

As starting of operations, QBIC was keen to conduct the first batch of lean startup training for the first time in Qatar. The training was held for all entrepreneurs whom have applied to QBIC through our website www.qbic.qa and were shortlisted. The training is run by Professor Lee charm from Babson College in the United States – rated number one entrepreneurship teaching university worldwide – along with trainers from QBIC.

About QDB:

Qatar Development Bank (QDB) is a financial entity fully owned by the government, set up by an Emiri Decree to invest in and develop local industries by supporting small and medium enterprises in Qatar. QDB aligned its strategy to correspond with the Qatar National Vision for the year 2030, to promote and facilitate development and growth of small and medium enterprises in core economic realms, resulting with long-term socioeconomic benefits to the people of Qatar. In addition to providing financial aid, the bank also offers advisory support and guidance to small and medium enterprises regarding start up, growth and expansion of their activities, aiming to establish a sustainable economic system.

About SDC:

The Social Development Center (SDC), part of Qatar Foundation is a nonprofit, social and development organization that focuses on supporting low-income families and community projects in Qatar. It has a longstanding commitment to bringing Qatari women into the workforce and establishing career counseling for Qatari high school and university students.

The Social Development Center is one of the most successful, well-known social and developmental organizations in Qatar. In harmony with the vision of Qatar's Foundation, it was established in 1996 under the patronage of Her Highness Sheikha Mozah Bint Nasser Al-Missned, the consort of His Highness the Emir of Qatar who is the Chairperson of Qatar Foundation. The center’s mission aims at the support, development and investment of human resources through a set of programs and services that enhance family ability in Qatar for self-reliance.

- ILQ News -