Aiming at promoting entrepreneurship to achieve industrial diversification in the energy-rich economy, a 20,000 square metre ‘Qatar Business Incubation Center’ (QBIC) — the largest business incubator facility in the Middle East — was launched yesterday in the industrial area.
QBIC has been established with a budget that exceeds QR100m. It has been designed by implementing a modern and scientific benchmark to fulfil entrepreneurs’ demands, office space, industrial workshops, and administrative and technical support.
This qualifies QBIC to play an essential role to develop Qatar business sector.
The mixed use facility is part of a wider public and government push to support and encourage Qatari entrepreneurs to build and grow businesses. QBIC was founded by two of Qatar’s leading government institutions supporting local entrepreneurs: Qatar Development Bank (QDB) and the Social Development Center (SDC), a member of Qatar Foundation.
QBIC will empower entrepreneurs to start and grow companies through training, mentorship, incubation, networking and investment.
QBIC’s objectives include developing Qatari companies through promotion of entrepreneurship and best-in-class business ethics, helping create Qatar’s next-generation of successful entrepreneurs, business leaders, start-ups and scale-ups.
“QDB 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 Abdulaziz bin Nasser Al Khalifa, the Chairman of QBIC and CEO of QDB.
Amal Al Mannai, Executive Director of SDC, added: “It was SDC’s honour to have the initiative to adopt the entrepreneurship programme within the youth and women societies towards encouraging them into production and business development, particularly startup and scale-up projects.”
“Our mission is to develop Qatari companies valued at QR100. QBIC provides incubator space for entrepreneurs and scale-ups to carry out their work with their teams,” said Raed Al Emadi, CEO of QBIC. Source: The Peninsula