Qatar business incubator set up

October 2014

THE establishment of Qatar Business Incubation Centre (QBIC), a project worth over QR100 million ($27.4 million) to encourage and support Qatari entrepreneurs in setting up businesses, was announced recently.

It was also announced that under QBIC’s flagship Lean Startup programme more than 21 projects had been supported and launched.

QBIC was set up by Qatar Development Bank and Social Development Centre under the patronage of Sheikh Abdullah bin Nasser bin Khalifa Al Thani, Qatari Prime Minister and Minister of Interior.   

The Prime Minister stated: “Through ‘Qatar National Vision 2030,’ the leadership has provided the nation with a clear roadmap for the future that balances economic growth with national and human development priorities. QBIC’s inauguration is a new milestone in the overall development effort of Qatar in the field of entrepreneurship and private sector support.”

Sheikh Abdullah bin Saud Al Thani, governor of Qatar Central Bank and chairman of the board of directors of Qatar Development Bank, called QIBC an important national project. “We are confident that QBIC will now take its place in the front rank of incubators around the world and provide a major boost to Qatar’s economic development.”

Abdulaziz bin Nasser Al Khalifa, the CEO of Qatar Development Bank and chairman of QBIC, said: “We are proud of our joint efforts with the Social Development Centre to equip and launch the largest incubator in the Mena region, which will add tremendous value to Qatar’s entrepreneurial ecosystem.”

QBIC is based at a 20,000-sqm site in the New Industrial Area.

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