QDB launches Al Fikra for start ups

Date

9/2/2015 4:01:28 AM

(MENAFN- The Peninsula)Officials attending a press briefing to announce the programme. Salim Matramkot

DOHA: Qatar Development Bank (QDB) yesterday announced the launch of the fourth edition of the “Al-Fikra” competition for start-ups in collaboration with a host of sponsors and partners.

The competition aims at nurturing Qatari entrepreneurs’ talent through mentoring their innovative businesses which will contribute to the economic diversification QDB targets. The competition will take place for three months from September till the third week of November 2015. The bank has collaborated with Sasol the international integrated energy and chemical company as the official sponsor of the national competition and ExxonMobil Qatar as a platinum sponsor. The bank is also collaborating with Qatar University and Carnegie Mellon University to provide academic support for the contestants.

“Al-Fikra” competition is divided into two phases the first phase is too chose an idea and a plan. After that the selected entrepreneurs go through a final phase of assessment.

The competition is designed to encourage people to start their own business and to spread the culture of entrepreneurship in Qatar as the competition reflects the great value of owning business relationships with investment and banking institutions and strategic partners.

Abdul Aziz Bin Nasser Al Khalifa Chief Executive Officer of QDB said : “Organising “Al-Fikra” competition comes within the framework of our commitment to support entrepreneurs and SMEs. “Al-Fikra” competition is designed to attract the largest possible number of entrepreneurs and SMEs to add value to Qatar’s economy. Qatar Development Bank’s role is to support them in every possible way and to contribute to the economic diversity of the state and to support small and medium enterprises sector.”

Phinda Vilakazi President Sasol Qatar said: “Sasol Qatar is honoured to be the main sponsor of this year’s “Al-Fikra” competition for start-ups a platform we have long supported where youth can present their innovative ideas and receive the support they need to further develop their projects. Sasol has always believed in the potential of the Qatar’s youth and their ideas through our many community initiatives. We are pleased to be supporting this great initiative.”

Said Alistair Routledge President and General Manager of ExxonMobil Qatar: “ At ExxonMobil Qatar we’re committed to providing the energy to drive human ptential by helping to build a workforce that can sustain Qatar’s future- a feat which will only be achievable through close collaboration with partners such as Qatar Development Bank and initiatives such as the Al Fikra Business competition.”

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