QDB calls on innovative thinkers to join Qatar's most inclusive hackathon to date

Doha – Qatar Development Bank (QDB) has launched its latest Hackathon – Qatar’s largest initiative of its kind – inviting all entrepreneurs and innovative thinkers from all sectors and domains to share their creative ideas and cutting-edge solutions for today’s most relevant challenges across seven industry-specific themes, namely, sportstech, fintech, healthtech, fashiontech, digital transformation, manufacturing, and sustainable mobility with 5G.

The hackathon will be held in collaboration with Workinton as the venue partner, Amazon Web Services as the technology partner, , as well as Virginia Commonwealth University, Qatar Shell, and Alurays Middle East Lighting Technology, as the event’s knowledge partners.

Through a collaborative framework, the competition will be operated by QDB’s leading incubation and acceleration platforms, with each incubator and accelerator overseeing the challenges related to its domain. These include Qatar Business Incubation Center, Qatar SportsTech, Qatar Fintech Hub, Scale 7, Factory One, and FabLab, in addition to Ooredoo’s Digital & Beyond incubator.

According to QDB, the hackathon – which will be delivered in a hybrid format that blends virtual and face-to-face engagements – will address many contemporary challenges that aim to unlock the capabilities and innovative ideas of Qatar’s aspiring entrepreneurs, its brightest thinkers, innovators, businessmen, and professionals, as well as anyone with the capacity to offer creative solutions to pressing challenges. The competitive event will be held from the 30^th of September to the 2^nd of October 2021 and the final date to submit applications will be September 26, 2021.

Each winning team in one of the seven themes of the hackathon will receive up to QAR 25,000 to further develop their idea, seats in one of QDB’s incubation programs with the opportunity to establish their commercial venture, access of up to QAR 500,000 in investment and support services that include training and mentoring sessions with prominent local and international coaches, the opportunity to expand their network of collaborators and partners, and access to investors to validate their business idea.

According to QDB’s CEO Mr. Abdulaziz Nasser Al-Khalifa, the challenge embraces an expanded scope of ‘not one or two’, but seven sectors and industries that play an instrumental role in the Qatari economy. He added: “The hackathon’s premise is based on stimulating innovative thinking in everyone without exception and investing it in introducing practical and marketable solutions to the business arena. This competitive celebration of talent supports the entrepreneurship ecosystem in the country by honoring the values ​​of innovation and creativity across seven different themes, and will enrich the business community with a wide range of innovative solutions that can benefit the national economy.”

Entrepreneurs can participate and present their innovative solutions in one of the hackathon’s seven themes, which include healthtech and the development of patient care experiences and engagements, sportstech and the development of fan-viewing experiences for traditional or virtual sports, and sustainable mobility solutions that leverage 5G technologies to reduce travel times and emissions and connect people more efficiently. This is in addition to digital transformation and the development of institutional practices and consumer experiences, innovative fintech solutions, fashiontech innovations in the fashion and design domain, and finally, manufacturing-focused solutions that use digital technologies such as artificial intelligence and machine learning to develop smart manufacturing processes or reduce manufacturing’s negative environmental impact through more sustainable processes.

To this end, QDB encourages all interested entrepreneurs, creative thinkers, inventors, innovators, and professionals in Qatar to take part in the hackathon and take advantage of this opportunity to put forth their creative solutions and contribute to the Qatari economy. The terms and conditions for participation and more details on the hackathon are available at www.qdbhackathon.qa

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About Qatar Development Bank (QDB)

Qatar Development Bank (QDB) was established in 1997 as the Qatar Industrial Development Bank, a 100% government-owned developmental organization. Its primary aim was to develop investments within local industries, thereby accelerating growth and economic diversification in Qatar through support for the private sector.

QDB has achieved significant milestones in recent years, playing a chief role in growing Qatar’s private sector. QDB has also played an integral role in stimulating national economic and social development, through funding a variety of local projects and providing support to the private sector through a range of innovative services. By adopting this strategy, QDB has contributed to empowering Qatari entrepreneurs, improving the standard of living, as well as allowing Qatari entrepreneurs to benefit from a wide range of promising investment opportunities, and to develop their exporting potentials while supporting their entry to new international markets.

QDB’s strategy is entirely in line with the Qatar National Vision 2030. It is focused on promoting and facilitating the growth of the private sector in key economic sectors, with the aim of building a diversified, sustainable economy.

 QDB aims to promote entrepreneurship spirit within the private sector in Qatar by providing the necessary services that shall ease the growth, development, and diversification of this sector. In doing so, QDB offers access to information, incubation, and capabilities to SMEs, in addition to access to capital through direct and indirect financial services, investment and access to local markets, and access to international markets for Qatari exporters through export insurance and funding services.

© Press Release 2021