By Salman Siddiqui
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The Qatar Business Incubation Centre (QBIC) aims to reach out to at least 330 Qatari entrepreneurs and 150 local companies over a period of three years to help them become the next QR100mn companies in the country.
“QBIC will provide 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,” its CEO Raed al-Emadi said yesterday.
Start-ups will be able to avail up to QR200,000 while established local companies can get financing of up to QR4mn through QBIC’s partnership with Qatar Development Bank (QDB).
“While companies involved in traditional businesses are welcome we hope to focus our support on those involved in renewable energy and food security-related projects,” he explained.
Al-Emadi was addressing the media yesterday at an event to mark the announcement of services that QBIC will offer to the entrepreneurs.
QBIC chairman and QDB CEO Abdulaziz bin Nasser al-Khalifa said that the official launch of the centre would be held soon at a ceremony comprising participating entrepreneurs.
Yesterday, the media was given a tour of the 20,000sq m QBIC at Doha’s Industrial Area. It is said to be the largest business incubator
facility in the Middle East.
Al-Khalifa told Gulf Times that the centre would not only provide financing but also impart specialised training, human resource and legal services to the participants.
Also, he said that the QBIC would bring together other already established organisations such as the Enterprise Qatar and the Social Development Centre (SDC) that also enable entrepreneurs and SMEs to achieve greater success under one umbrella, “since all share the same goal of enabling the talent of the country to prosper further”.
QBIC was founded by two of Qatar’s leading government institutions supporting local entrepreneurs: QDB and the SDC, which is a member of Qatar Foundation.
“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 al-Khalifa added.
SDC executive director Amal al-Mannai said: “It was SDC’s honour to take the initiative to adopt the entrepreneurship programme within youth and women…We believe that these projects will strengthen the national economy, enhance income and build a better lifestyle for Qataris.
“The entrepreneurship programme was initiated in 2001…(and) QBIC has been established with a budget that exceeds QR100mn. It has been designed by implementing a modern and scientific benchmark to fulfil entrepreneurs’ demands of office space, industrial workshops and administrative and technical support.”
QBIC provides training to all entrepreneurs who apply through its website www.qbic.qa. The training is run by Professor Lee Charm from Babson College in the United States, which is rated number one in entrepreneurship teaching university worldwide along with trainers from QBIC.