(MENAFN- The Peninsula) As part of efforts to promote economic diversification, Qatar Business Incubation Center (QBIC) under its flagship 'Lean Startup' programme has supported and launched more than 21 projects that truly showcase entrepreneurs' potential and progress in the country.
"We will continue to work closely with our partners across the entrepreneurial landscape to achieve the utmost benefit for these great innovators," said Abdulaziz bin Nasser Al Khalifa, CEO of Qatar Development Bank (QDB) and Chairman of QBIC in a press statement issued yesterday.
Al Khalifa said: "The Centre is a new milestone in the overall development effort of the State of Qatar in the field of entrepreneurship and private sector support. It is also aligned with the Qatar National Vision 2030 pillars of economic, social and human resources development."
In May, QBIC announced that it will incubate 15 projects of entrepreneurs who participated in its Lean Startup programme. Accordingly, the 15 projects will be offered office space and financing, with incubation services, for two years.
The QR100m worth QBIC, the largest business incubator in the Middle East, was officially launched recently at a high-level ceremony. The Centre will operate under the patronage of H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, Prime Minister and Minister of Interior, who was joined by statesmen and dignitaries from across the public and private sectors during the ceremony, including H E Sheikh Abdullah bin Saud Al Thani, Governor of Qatar Central Bank and Chairman of the Board of Directors of QDB.
Sheikh Abdullah Al Thani said: "QDB has been delighted to partner with the SDC throughout the establishment of this 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."
Based at a 20,000 square metre site in the New Industrial Area, QBIC has been established as a joint effort between the QDB and Social Development Center (SDC). It is a flagship project in the government's wider effort to support and encourage entrepreneurs in Qatar to set up and establish Small and Mid-sized Enterprises.
Al Khalifa (Chairman of QIBC), added: "We are proud of our joint efforts with the SDC to equip and launch the largest incubator in the Mena region, which will add tremendous value to Qatar's entrepreneurial ecosystem. In addition to funding the construction of the incubator, we allocated another QR27m to support the incubated projects and offer all the facilities and services entrepreneurs need from a project's inception to its operation - providing office space, industrial workshops, administrative and technical support, and a 20,000 square metre project space."
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