By Neil King
Qatar Development Bank and the Social Development Centre have opened the largest incubator in the Middle East
A joint venture between Qatar Development Bank, and the Social Development Centre has led to the launch of the largest mixed business incubator in the Middle East.
The Qatar Business Incubation Centre (QBIC) is a 20,000 square meter facility in Doha’s industrial area which aims to support and encourage Qatari entrepreneurs to build and grow their businesses.
With ambitions to create the next QR100m ($27.4m) companies and Qatari success stories, QBIC will offer training mentorship, incubation, networking and investment in a bid to establish the country’s next generation of successful business leaders.
Chairman of QBIC and CEO of Qatar Development Bank, Abdulaziz bin Nasser Al Khalifa, said: “Qatar Development Bank believes that with the launch of QBIC comes a new milestone for entrepreneurship and Qatari economy.
“I believe we are witnessing a transformation, providing entrepreneurs the resources needed to turn dreams into reality.”
QBIC has a budget of more than $27m to work with, which will go towards fulfilling entrepreneurs’ needs such as technical support, office space, business development and more.
The initiative’s CEO, Raed Al Emadi, added: “QBIC provides 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 enterprise.”