Doha, Qatar: Scale7, the first fashion and design business incubator in Qatar - founded by Qatar Development Bank (QDB) in partnership with M7 – has launched Qatar’s first Accelerator Program for the fashion and design industry.
Held virtually, Scale7’s intensive 10-week Acceleration Program will run from April 6 to June 22, 2021. The program is conceptualized to empower promising startups in their “scale-up phase” to accelerate their growth and further develop their products and services within the context of the latest industry dynamics, in line with Scale7’s vision to be a catalyst for reshaping fashion & design technology in the region, and beyond.
Thirteen innovative startups – scouted from over 30 applications – were shortlisted after a thorough & meticulous selection process. The thirteen startups were invited to present their businesses via a virtual selection day, which was judged by a panel from the entrepreneurial ecosystem along with fashion and design specialists and experts representing QDB and M7. At the final stage, six startups were chosen for the Accelerator Program.
The Accelerator Program aims to provide specialized mentoring & guidance and deliver business development activities, enabling participating startups to grow locally & expand globally, all while boosting sales & building a robust customer base. The focus of the program will be on fundraising and international development.
On the launch of the Accelerator Program, Mr. Abdulaziz Bin Nasser Al-Khalifa, Chief Executive Officer of QDB, said, “Despite these unprecedented times and the current challenges faced globally, the Accelerator Program has been launched to facilitate ambitious entrepreneurs overcome the inevitable challenges of running a startup and to fulfill their ambitions to become independent, successful businesses. This program will offer a suitable innovative environment for promising startups in the fashion and technology sector to explore ways to boost their growth. We are convinced that by joining this program, our local entrepreneurs will be able to scale higher and compete globally, subsequently paving the way for future Scale7 waves.
Entrepreneurs taking part in the Accelerator Program will receive professional one-on-one mentoring & guidance sessions with industry specialists as well as partners from world-class professionals and global leaders in fashion technology; co-working space at Scale7, and, not least, financial support for their nascent businesses along with excellent networking opportunities.
Scale7’s Accelerator Program follows the successful completion of Qatar’s first fashion and technology virtual Hackathon, which was held in March 2021. The Hackathon offered the ideal platform for entrepreneurs to compete, build and develop exciting concepts. Winners were entitled to several benefits aimed at providing a wide range of support to fashion and design entrepreneurs who are interested in fashion technology and to grow and tap into the opportunities within Qatar as well as global markets.
© Press Release 2021