Enterprise Qatar (EQ) has launched the fourth annual round of Al Fikra national business plan competition to encourage entrepreneurs and creative minds in Qatar to start up their own businesses.

Winners will receive capital injection in the form of cash prizes as well as consultancy and incubation services that will help their business ideas flourish into profitable ventures.

Al Fikra will be open to all citizens and residents in Qatar. Six winners will be announced in May.

Throughout the process, workshops and other educational resources will be organised for all contestants.

“We want to tap into one of Qatar’s most important natural resources: the aspiring minds of young entrepreneurs that are driving this country towards the future. We want to offer assistance and guidance to enable them to commercialise their ideas and see them grow,” said Ali al-Khulaifi, acting CEO, Enterprise Qatar.

He added: “Most young entrepreneurs struggle to find the kind of support they need, whether it be one-on-one coaching, or much needed business services, that may be out of reach for startups. This competition is meant to engage young entrepreneurs in Qatar in order to overcome common hurdles associated with any growing business.”

ExxonMobil and Sasol are the platinum sponsors; Qatar Development Bank (QDB) is the economic development partner; Qatar Business Incubation Centre (QBIC) is the startup development partner; and Carnegie Mellon University in Qatar and Qatar University are key academic partners.

Other academic institutions that will be participating include Virginia Commonwealth University in Qatar, College of the North Atlantic in Qatar, Stenden University Qatar, and Georgetown University’s School of Foreign Services in Qatar.

Raed al-Emadi, CEO, QBIC, said: “We need to support Qatari entrepreneurial ecosystem by collaborating between all of the players in order to achieve momentum and impact.”

Saleh al-Khulaifi, head of business development at QDB, commented: “Fostering such initiatives is part of our commitment of supporting and developing small and medium enterprises in the private sector, which in turn leads to a diversified economy, in line with the Qatar National Vision 2030.”

Saud al-Arifi, vice president and HR manager Qatar and Abu Dhabi for ExxonMobil Qatar, said: “At ExxonMobil Qatar, we believe that human capacity is at the root of every successful economy; it is the very foundation of prosperity; and it is for this very reason that we as a company support human development across all of our
activities.”

MarjoLouw, president, Sasol Qatar, said: “Sasol understands the importance of providing mentorship and support to startups in order to create a thriving and competitive SME sector in Qatar, contributing towards fulfillment of the Qatar National Vision 2030.”

Entry into the competition can be carried out on: http://www.alfikra.qa

 

 

 

 

Related Story