(MENAFN- The Peninsula) joel johnson |
The Peninsula
Doha: The seventh edition of the idea camp hosted by the Digital Incubation Center (DIC) at the Ministry of Communications and Information technology (MCIT) yesterday witnessed 25 selected startups presenting innovative ideas having obtained investments worth QR224m.
The event that was held at Al Wadi Hotel saw many experts from different industries, representatives from digital entrepreneurship communities, and aspiring businesspersons with innovative ideas taking part.
Among the 342 applications received till March 7, a total of 158 were selected and 25 startups were incubated. Initiated by the ministry, the idea camp is aimed at supporting and promoting entrepreneurs, designers, and developers with innovative ideas.
Speaking on the sidelines of the event Eman Al Kuwari, Director of digital innovation department at MCIT, said that the establishment of the DIC services in Qatar offers unwavering support to aspiring businesspersons. The official highlighted that it aims to nurture, empower and shape the future of technologies and businesses.
She said“It thrills us with immense pride that incubator startups collectively secured QR224m of investment. This is a testament to their exceptional potential and the effectiveness of our incubation program.” Al Kuwari stressed that the 2023 edition of the creative idea camp is based on three main areas including transportation and mobility technology, healthcare technology, and renewable energy.
She outlined that the primary motive for establishing Digital Business Incubator in the country is to maintain the level of support and empower young business leaders while implementing a strategic plan of action.
Noting that there have been over 270 startups so far, among which 165 completed their incubation successfully, Al Kuwari mentioned that it contributed towards the success of the initiatives by promoting aspirants in the business realms with innovative ideas.
DIC provides numerous services including regulatory services, training and mentorship programme, and networking opportunity. These services allow people to network and connect with investors and entrepreneurs enabling them to grow their businesses.
The event also provided opportunities for businesspeople to share their success stories. Acquiring various accomplishments, Dr. Latifa Al Darwish, a Qatari entrepreneur said“Today, the business is totally different from what I started 20 years ago,” adding that it requires a certain amount of research, passion, and commitment to open potential doors.
Being one of the Qatar Business Woman Association members, Dr. Al Darwish established Etlaqq Business Management (EBM) to assist small and medium-sized businesses in the country. Dr. Al Darwish stressed that exploring opportunities by travelling, networking, and negotiating are some of the key aspects a startup entrepreneur must do to succeed further.
The event also witnessed a panel discussion entitled 'The transformative power of incubation: Support and benefits in the startup lifecycle.' Moderated by Majed Lababidi, Acting CEO of Rawi AlKotob, the panelists included Hadi Alshakhori, ecosystem developer, KSA, Mohamed Zebian, programmes manager at Qatar Science and technology park (QSTP), Mohammad Hammoud, Computer Science professor at CMU and Founder and CEO at Avey and Saif Qazi, Founder, and CEO of Urban Point. The experts discussed various challenge entrepreneurs confront in the day-to-day business world and solutions to execute successful entrepreneurship through their experiences.
Towards the end of the program, the innovative startups that came in first place received an amount of QR150,000, second place secured an amount of QR100,000 and the third prize winner was gifted QR50,000.