Doha, Qatar, 16 June 2015

Entrepreneurs, start-ups and fledging businesses recently participated in a unique workshop to hone the skills they need to launch a successful company. Hosted by local start-up incubator experts Qatar Science & Technology Park (QSTP), part of Qatar Foundation Research and Development (QF R&D), the workshop focused on 'Innovation Management' and was held in collaboration with Qatar Development Bank at the Aladdin Husseini Hall within QSTP.  

QSTP is Qatar's primary accelerator and incubator for technology-based start-ups, and supports QF R&D by fostering new talent in an environment designed specifically to accelerate their route to market in a bid to truly nurture and support innovation and entrepreneurship in Qatar.

The 'Innovation Management' training program is a collaboration between QSTP and QDB that aims to introduce entrepreneurs and small and medium enterprises (SMEs) to the combined services, support, facilities and expertise provided by both QSTP and QDB, in addition to providing assistance and skills training that will help these fledging businesses grow and compete successfully in the local and regional market.

Commenting on the workshop and what it means for QSTP, Mr Hamad Al Kuwari, Managing Director of QSTP, elaborated: "Qatar Science & Technology Park is the one and only technology development complex that is a Free Zone and home to 38 resident companies varying between key multinational R&D players and Technology Development SMEs and Start-Ups, all under one roof. In addition to our state-of-the-art infrastructure, QSTP offers a diverse portfolio of services to both local and regional markets to shore up our mission as facilitators of applied research, technology-innovation and incubation."

On the services currently provided by the park, Al Kuwari added: "While the Accelerator and Start-Up Incubator cater to the needs of potential entrepreneurs in terms of technology-related idea development, enhancing business skills, creating technology prototypes, or establishing a business and making use of our incubator benefits, the Proof of Concept Fund is tailored to help existing Qatari institutions who require financial support with an innovative technology project that addresses a local or regional market gap."

"Therefore, the 'Innovation Workshop' we offered in collaboration with QDB was an excellent opportunity for us to promote the fund further amongst local SMEs. It was also a critical attempt to reach-out to existing SMEs and demonstrate how innovative thinking could significantly transform their traditional business models. It is important to note that on the road to fulfilling our vision, QSTP strives to create and nurture a culture of innovation. This could only happen through synchronization of efforts and working simultaneously across the various levels of the entrepreneurial and R&D ecosystem."

"By offering local innovators and entrepreneurs this unique workshop, we are providing a valuable and necessary platform from which they can develop, learn and hopefully launch their businesses. QSTP is an institute seeking to support true innovation and as such, will always be the first choice for anyone who is looking to create something new, unveil a first and eventually compete on a global stage. Here in Qatar, we encounter so many exciting new ideas that can benefit the future of our communities and our country, which is why, here at QSTP, we are proud to support and assist as many of these as possible across; Information & Communication, Energy, Environment and Health Sciences Technologies," Al Kuwari concluded.

Mr Abdulaziz Nasser Al-Khalifa, CEO of Qatar Development Bank, said: "Qatar Development Bank is the main supporter in the development of SMEs and the private sector, in addition to assisting and supporting the entrepreneurs and providing all they need to create a supportive environment for entrepreneurship. We focus on the continuous development of SMEs and building their internal capacity to develop better products and services. One of Qatar Development Bank initiatives is to provide packages of integrated training and development programs for SMEs in cooperation with the best institutions."

He added: "At QDB, we believe in partnerships and its role to build bridges between social and academic institutions to offer harmony and coordination to help entrepreneurs and SMEs. In collaboration with the Social Development Center, we created the Qatar Business Incubation Center and set up Bedaya Center in cooperation with Silatech. All of these efforts are to provide the best opportunities to create a promising generation of entrepreneurs who are able to promote the country and diversify Qatar's economy. Lastly, we want to thank QSTP for their co-operation in the planning, designing and presenting of this program. The innovation management training aims to educate the owners of start-up companies on the concept of innovation and its importance in raising the performance of the company and increase commercial successes in the domestic market and eventually across the region. We believe that through initiatives like this, we will see a new generation of passionate, successful and innovative new start-ups leading the way for a new stream of commerce in Qatar and the GCC."

Through this unique event, QSTP and QDB have provided a great opportunity for entrepreneurs, SMEs and simply those who are interested in starting new projects to learn about how to begin the process of building and launching their own business.

QSTP focuses on supporting innovation and entrepreneurship through four key themes: Energy, Environment, Health Sciences and Information & Communication Technologies.

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About Qatar Science & Technology Park
Qatar Science & Technology Park (QSTP), part of Qatar Foundation Research and Development (QF R&D), is Qatar's primary technology start-up incubator and technology development accelerator, fostering the environment required for commercialisation of research and supporting innovation and entrepreneurship. QSTP focuses on four themes as per the Qatar National Research Strategy (QNRS) announced in 2012; Energy, Environment, Health Sciences and Information & Communication Technologies. QSTP is located in Qatar Foundation's Education City and has access to the resources of its cluster of leading research universities.

Members within the QSTP Free Zone include SMEs, international corporations and research institutions, which have collectively committed to investing in new programs, creating intellectual property, enhancing technology management skills and developing innovative new products in line with the QNRS. QSTP supports QF R&D's economic and human development objectives for Qatar and is increasingly being recognized as an international hub for applied research, innovation, incubation and entrepreneurship.

For more information, please visit the QSTP website at www.qstp.org.qa.

About Qatar Foundation Research and Development (QF R&D)
Leading Qatar's vision to become an international center for research and development excellence and innovation, QF R&D is home to Qatar Science & Technology Park (QSTP), a world-class hub for technology innovation and commercialisation, as well as the Qatar National Research Fund (QNRF), a globally renowned scientific research funding organization.

About Qatar Development Bank
Qatar Development Bank (QDB) was established in 1997 as the Qatar Industrial Development Bank, a 100% government-owned developmental organisation. Its primary aim was to develop investments within local industries, thereby accelerating growth and economic diversification in Qatar through support for private sector. Between 1997 and 2005, the bank expanded its portfolio, diversifying from its industrial base to include support and guidance for a range of non-industrial sectors identified as key to the development of Qatar. Shortly afterwards, the bank revisited its mission statement to reflect the successful completion of its new strategic objective and changed its name to Qatar Development Bank. The State of Qatar, QDB's sole shareholder, increased the bank's capital from 200 million to 10 billion riyals in 2008. Since that time, and reflecting the expansion of its mission and financial assets, QDB has launched a considerable number of strategic initiatives and programs, all designed to directly contribute to the economic growth and development of Qatar.

QDB's strategy is entirely in line with Qatar National Vision 2030. It is focused on promoting and facilitating the growth of the private sector in Qatar within key economic channels. In turn, this support will enable the development of long term, sustainable social and economic benefits across the economy.

Aside from offering financial support, Qatar Development Bank is tasked with promoting entrepreneurship in the private sector, facilitating the development of key economic sectors through the provision of capital and advisory services. QDB has also launched several initiatives, including Al Dhameen program, an indirect loan facility to guarantee commercial bank loans to private sector companies, in collaboration with other banks and financial institutions.

QDB's export arm "Tasdeer" program was created to develop and promote exports from Qatar, providing export credit guarantees in addition to financial products and solutions designed to mitigate the risks imposed on local exporters. The bank also provides consulting services in business development to help entrepreneurs to prepare for business. This will include feasibility studies, the conduct of market research and the selection of appropriate techniques; fundamentally helping to develop the capabilities of SME owners to enhance and refine their skills in the market and establish strong ties with financial and non-financial support entities.

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Qatar
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Omneya Kilany                       
+974 4454 7039

© Press Release 2015