Qatar Development Bank (QDB) announced Monday the launch of the seventh edition of ‘Al-Fikra 2019 National Business Competition’, which is expected to draw around 150 applications.
QDB said the competition aims to support entrepreneurship development in Qatar by identifying the top business ideas submitted by Qatari entrepreneurs who have the potential to transform such ideas into successful business projects.
The applicants’ plans are presented in a series of workshops provided by Al-Fikra that would help them “bring their ideas to light in a more tactical and professional way.” Since its inception, QDB said Al-Fikra has been one of its most important platforms to achieve the bank’s mission for a diversified economy and to support the Qatar National Vision 2030.
This year, Al-Fikra will be divided into three categories: the ‘Emerging Ideas’ or Al-Fikra Startup, which is a competition for general business ideas; Al-Fikra Mashroie for university students; and Al-Fikra Challenges, which allows entrepreneurs to find solutions for some of the challenges that can be turned into business ideas and projects that can serve Qatar.
After the registration, all applicants will go through an initial filtering process from February 17 to 21. Training sessions will run from February 24 to March 7, after which participants will be given the time to revisit and update their business plans based on what they learned from the training sessions.
This step aims to screen the submitted business plans to make sure they comply with the required criteria before handing them over to the jury. The final ceremony will be held on April 30, where the top eight finalists will present their final pitches in front of a judging panel for the top three positions.
The top three winners of the competition will benefit from QDB’s services, such as incubation, financing, and ‘Isteshara’ to convert their ideas into businesses and other awards.
QDB CEO Abdulaziz bin Nasser al-Khalifa said, “The competition intends to develop the businesses ideas of successful Qatari entrepreneurs and to contribute to the development of the private sector in Qatar through innovative ideas presented in a form of business plan pitching model.
“We also aim to foster the culture of creativity in Qatar and to introduce new products and services, which in turn would lead to the emergence of new businesses, hence diversification in the local market.”
He added, “We at QDB continuously strive to increase creativity by offering solutions to market challenges and boosting collaboration between the sectors, knowing that this competition is the best platform to achieve our aspirations and support Qatar National Vision 2030.”
QDB said the competition aims to support entrepreneurship development in Qatar by identifying the top business ideas submitted by Qatari entrepreneurs who have the potential to transform such ideas into successful business projects.
The applicants’ plans are presented in a series of workshops provided by Al-Fikra that would help them “bring their ideas to light in a more tactical and professional way.” Since its inception, QDB said Al-Fikra has been one of its most important platforms to achieve the bank’s mission for a diversified economy and to support the Qatar National Vision 2030.
This year, Al-Fikra will be divided into three categories: the ‘Emerging Ideas’ or Al-Fikra Startup, which is a competition for general business ideas; Al-Fikra Mashroie for university students; and Al-Fikra Challenges, which allows entrepreneurs to find solutions for some of the challenges that can be turned into business ideas and projects that can serve Qatar.
After the registration, all applicants will go through an initial filtering process from February 17 to 21. Training sessions will run from February 24 to March 7, after which participants will be given the time to revisit and update their business plans based on what they learned from the training sessions.
This step aims to screen the submitted business plans to make sure they comply with the required criteria before handing them over to the jury. The final ceremony will be held on April 30, where the top eight finalists will present their final pitches in front of a judging panel for the top three positions.
The top three winners of the competition will benefit from QDB’s services, such as incubation, financing, and ‘Isteshara’ to convert their ideas into businesses and other awards.
QDB CEO Abdulaziz bin Nasser al-Khalifa said, “The competition intends to develop the businesses ideas of successful Qatari entrepreneurs and to contribute to the development of the private sector in Qatar through innovative ideas presented in a form of business plan pitching model.
“We also aim to foster the culture of creativity in Qatar and to introduce new products and services, which in turn would lead to the emergence of new businesses, hence diversification in the local market.”
He added, “We at QDB continuously strive to increase creativity by offering solutions to market challenges and boosting collaboration between the sectors, knowing that this competition is the best platform to achieve our aspirations and support Qatar National Vision 2030.”