The Social Development Center (SDC), a member of Qatar Foundation for Social Action, has called upon Qatari entrepreneurs and young talents to sign up and take advantage of the services provided by the Rasameel fund.
The Rasameel fund promotes Qatari entrepreneurs of both genders over 18 years who have the desire to set up and manage projects on the basis of profitable investment. There are no specific qualifications or income limit required for acceptance. The applicant only needs to have an idea for a potential or existing project to be eligible for the Rasameel fund.
The fund provides grants and soft loans without interest or administrative fee, and helps beneficiaries and trains them to manage their projects as well as provide guidance and counseling services.
Munther Abdullah Al Dawood, projects and investment manager at SDC, said: “The SDC set up the Rasameel fund (in 2003) as a mechanism to support talented entrepreneurs. This goal is aligned with the Qatar National Vision 2030 to manage and support entrepreneurial activities in the country.”
According to Al Dawood, the fund’s mission is to motivate and encourage young Qataris to adopt private entrepreneurial projects by offering a package of services to help implement successful business ventures that provide them with financial stability and profitability.
Hamad Jafar al-Saffar, head of entrepreneurship support department at SDC, said: “We aim through the Rasameel fund to help ambitious Qatari entrepreneurs to implement and manage their projects successfully. Such benefits eventually contribute to the betterment and the stability of their living conditions. This in turn benefits the society and contributes to the achievement of Qatar National Vision 2030 in the economic and social development of human and environmental resources.”
“We are currently working on the development of Rasameel fund and its services provided to the public as we are in the final stages of receiving a consultant’s study report which will improve the efficiency of the inputs and outputs of fund and achieve the highest level of satisfaction for the targeted group and other relevant authorities,” he added.
The SDC has achieved great results through the Rasameel fund in the past year. The fund saw the collection and management of 350 requests and the nomination of 170 people to receiving training and rehabilitation services, in addition to granting loans to 25 applicants.
