Ibrahim Al Mannai (centre), Executive Director of Advisory and Incubation at QDB, addressing the media.
DOHA: The ongoing Qatar Entrepreneurship Conference “ROWAD Qatar 2018”, which is taking place during the Global Entrepreneurship Week, is witnessing greater traction from Qatari companies with an aim to expand their horizons and offer sustainable growth paradigms to Qatari youths and SMEs.
In this regard, Qatar Development Bank, in two separate press meets, announced the launch of SME definition in collaboration with the Ministry of Commerce and Industry as well as became the frontrunner in launching the first ever SportsTech accelerator for the MEA region. Both initiatives will mark a new era of growth for Qatari companies and will tremendously aid in achieving Qatar National Vision 2030.
The SportsTech Accelerator initiative is powered by Startup Bootcamp, the global player in accelerating Tech. Startups, with the goal to become the leading and central point in the region for sports innovation.
Commenting on this occasion, Ibrahim Al Mannai, Executive Director of Advisory and Incubation at QDB, said: “It is indeed a great moment of pride for all of us who have working painstakingly to realize our dream finally taking the desired shape. Our thrust towards SMEs and youths of Qatar holds no boundaries.”
Saud Abdullah Al Attiyah, Director of Economic Policies and Research Department at the Ministry of Commerce and Industry, said:“Adopting the same definition for SMEs in Qatar will lead to create a clear framework for SME sector development, which in turn will support establishing evidence-based decisions.”
The Qatar National SME Definition ensures equal support for all SMEs from all stakeholders as it aims to improve the policies and efforts of the SME sector development based on a clear definition. In addition, it helps develop licensed home-based businesses that match the definition criteria.
The definition, which is part of the government’s continuous support to the SME sector, will enable all parties to work together and achieve success under unified criteria. It also aims at facilitating financing procedures by providing privileges for investment entities that can finance SMEs.
In regards to the second announcement made, Qatar SportsTech Incubator will be a key supporter to grow the startup ecosystem in Qatar by creating a hub with events and mentors that will definitely provide an unmatched future for startups in Qatar.
QDB has always been a frontrunner in bringing the best local, regional and international expertise to help promote innovators and entrepreneurs’ skills and support their projects. Moreover, since the 2022FIFA World Cup is taking place in Qatar with forecasted investments of $5bn that represents a great opportunity for technology startups.
The accelerator is coming up in partnership with a set of prominent Government partners; Aspire Zone Foundation the global leading Dedicated Sports Icon who are hosting the Incubator/Accelerator in their cozy premises located at Aspire side,the Ministry of Economy and Commerce (MEC), Qatar Financial Center (QFC).
A total of 40 startups will be selected and accelerated, and the best performing of them will be offered to Anchor to Qatar Sports Incubator, while running in parallel several activities that compliment with the current happenings in the world of sports, eg., Angel Investment Boot Camps, Hackathons, International Acceleration for selected Qatari startups, Mentorship programs and more.
