‘Ma’an’ initiative looks to support young entrepreneurs

Leading agencies in the academics, banking, and the private sectors signed an agreement on Sunday to launch ‘Ma’an’, an initiative that aims to support young entrepreneurs using innovative tools.
Under the agreement, the Qatar Chamber will provide financial and logistical support while Qatar Development Bank (QDB) will offer financial and consultancy services. Qatar University (QU), meanwhile, will be in charge of the technical side of ‘Ma’an’, which means ‘together’ in Arabic.
Abdul Rahman Abdul Jaleel AbdulGhani, member of the Qatar Chamber and ‘Ma’an’ chairman of the board of trustees, said the non-profit initiative, open to Qatari and non-Qatari students of QU, as well as other universities, was founded initially by the Qatari private sector.
He said ‘Ma’an’ will also contribute to marketing innovative projects and enhance the ties between QU and the private sector. The initiative, he added, reflects the commitment of Qatar Chamber, QU, and QDB to support innovative ideas and help entrepreneurs contribute to the realisation of the Qatar National Vision 2030 goals.
QU president Dr Hassan al-Derham described ‘Ma’an’ as “a true reflection of cooperation” between educational and financial institutions in realising sustainable development in accordance with the National Vision.
The focus of QU, according to al-Derham, is on human development and to supply businesses and governmental institutions with their labour-market needs.
He also lauded the role of Qatar Chamber in the development of the Qatari economy and “defending the rights of the private sector,” and QDB for its efforts to encourage entrepreneurship.
For his part, QDB CEO Abdulaziz bin Nasser al-Khalifa praised the chamber and QU for supporting innovative ideas and developing the small and medium-sized enterprises sector. Al-Khalifa said he hopes that ‘Ma’an’ will open new doors for young entrepreneurs to contribute to sustainable development.
Al-Khalifa stressed that the private sector and entrepreneurs have become an important part of the national economy. QDB is developing policies to empower entrepreneurs, including in the technical, financial, and legislative environment, to bring them on par with international standards.
“Qatar's successful economic policies, which aims to diversify the country’s sources of income and limit the reliance on natural resources, has made big progress thanks in no small part to the legislative system that created a pro-investment environment,” al-Khalifa said.