Doha, Qatar: Qatar Development Bank (QDB) and M7, a creative startup hub operating under Qatar Museums, have announced the launch of Scale7, a business incubator for innovative entrepreneurs in Qatar. Scale 7 aims to develop and nurture a creative and artistic ecosystem to incubate and support Qatari entrepreneurs, small and medium enterprises (SMEs), and pioneering emerging industries in the fields of fashion, design and technology.
Scale7 is located at M7’s premises in the heart of Msheireb Downtown Doha. M7 serves as a creative ecosystem that supports Qatar’s aspiring design, fashion and tech entrepreneurs through business incubation, training and connections to industry leaders. In addition, the creative hub aims to stimulate creativity among all segments of the wider community through exhibitions, performances, films, educational programs, and public discussions. M7 also opens channels of communication and fosters collaborative opportunities between designers in Qatar and the rest of the world.
On this occasion, Mr. Abdulaziz Bin Nasser Al-Khalifa, CEO, QDB, said, “We are elated to announce the launch of Scale7, the first business incubator for creatives in Qatar, which will be the first and most important platform to enhance the role of enthused entrepreneurs and aspiring Qatari designers in creating and producing Qatari brands in the field of fashion, design and related technology. The incubator will provide the creative entrepreneurs with all the tools, know-how and expertise necessary to help them develop their ideas from initial concepts to final products that can compete in local, regional and global markets."
“The partnership with M7 is an important pillar of our vision and plans at QDB, as we strive to build a robust national network that helps achieve the country's goals in diversifying the national economy, which aligns with the Qatar National Vision 2030,” he added.
Commenting on the launch of Scale 7, Mr. Ahmad Musa Al-Namla, CEO, Qatar Museums, said, “The launch of the fashion and design business incubator, Scale7, is the culmination of a joint effort with QDB to support Qatari entrepreneurship and emerging SMEs. The initiative aligns with M7's role to advance Qatar's spirit of innovation and creativity, contribute to the diversification of the economy, and promote the nation on the world stage.”
QDB will deliver training, mentoring, and organising seminars and workshops on the technical aspects of business management, providing support tailored to suit the ever-changing needs of entrepreneurs, in addition to offering networking opportunities with the local business community. QDB will also work on connecting Scale7 innovators with potential investors, clients and partners in Qatar.
Through Scale7, entrepreneurs will be able to participate in a 10-week training program on how to launch & grow projects with the participation of prominent mentors and successful industry leaders, with the aim of providing them with a comprehensive understanding of how to operate a successful business in the fashion industry, and enabling them to transform their ideas into Qatari fashion brands with global aspirations.
Through a series of seminars, leading industry speakers will share their secrets of success and inspire the talented entrepreneurs to take their brands forward. In addition, various joint events and fashion shows will enable entrepreneurs to showcase their talent to the influential audiences within the sector.
The resounding success of the Lean Fashion Program (LFP), launched by Qatar Business Incubation Center (QBIC), motivated countless local entrepreneurs and designers to venture into the fashion and design industry; through the program, several entrepreneurs qualified to participate in the "acceleration" phase, which was held in Milan. This represented the cohort’s first international experience, which offered them a platform to interact with elite designers, manufacturers and international project managers. LFP was the springboard from which Scale7 was conceived.
Scale7 is considered the fourth incubator QDB has co-founded, and is the latest initiative in the bank’s efforts of expanding its incubation & acceleration footprint. This launch follows the tremendous success Qatar Business Incubation Center has enjoyed, as well as the recent impact of Qatar SportsTech & Qatar FinTech Hub. Investing in business incubators and accelerators is a fundamental pillar of QDB's strategy in empowering & supporting entrepreneurs at all levels, with an overarching responsibility of developing the private sector and the entrepreneurial ecosystem in the country.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
