Qatar opens the Middle East’s largest business incubator facility
The 20,000 square meter Qatar Business Incubation Center (QBIC) – the largest business incubator facility in the Middle East – was launched recently in Doha’s industrial area.
The mixed use incubator is part of a wider public and government push to encourage Qatari entrepreneurs to build and grow businesses. QBIC was founded by two of Qatar’s government institutions supporting local entrepreneurs; the Qatar Development Bank (QDB) and the Social Development Center (SDC), a member of Qatar Foundation. QBIC’s goal is to “empower entrepreneurs to start and grow companies through training, mentorship, incubation, networking and investment.”
“Qatar Development Bank 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 chief executive officer of QDB.
And in a speech by Amal Al Mannai, executive director of Social Development Center (SDC), she stated “It was SDC’s honor to have the initiative to adopt the entrepreneurship program within the youth and women societies towards encouraging them into production and business development, particularly startup and scale-up projects. We believe that these projects will strengthen the national economy, enhance income and build a better lifestyle for Qataris”
“QBIC has been established with a budget that exceeds QAR 100 million,” she furthered. “It has been designed by implementing a modern and scientific benchmark to fulfill entrepreneurs’ demands, office space, industrial workshops, and administrative and technical support. This qualifies QBIC to play an essential role to develop Qatar business sector,” said Amal Al Mannai.