(MENAFN - Gulf Times) The Ministry of Economy and Commerce (MEC), in co-operation with the Qatar Business Incubation Centre (QBIC), organised a workshop titled ‘Contribute to Supporting the National Economy' on Tuesday.
The workshop comes within the framework of the ministry's efforts to develop and bolster the business ecosystem and create an investment environment conducive to the private sector and entrepreneurs.
These efforts include facilitating business procedures through the ministry's e-Services platform and the single window. Several other initiatives aimed at supporting small and medium-sized enterprises (SMEs) include streamlining procedures and licensing terms for the creation of business centres, granting licences for home businesses, regulating the work of street vendors, and supporting national products.
The workshop, which brought together experts from QBIC, discussed QBIC's role in developing the national economy and helping entrepreneurs launch and grow their companies through multiple services. The experts also highlighted QBIC's commitment to the long-term success of entrepreneurs. QBIC offers entrepreneurs training programmes, offices for existing companies, industrial workshops, and open working spaces.
The workshop outlined steps relating to the establishment of private companies or the development of existing businesses through three phases. During the first phase, dubbed ‘the activation stage', entrepreneurs sign incubation agreements and set milestones for the next three months. Seed funding up to QR100,000 is available during this period.
In the second three to 12-month phase dubbed ‘Accelerate', entrepreneurs focus on developing a market-friendly product through the LeanScaleup Programme. The third phase, which ranges between 12 to 24 months, QBIC provides support and individual training to help entrepreneurs grow their business and monitor performance. The workshop featured a presentation on how to enrol in the LeanStartup Programme, as well as QBIC's key programmes and activities. These include smart financing, networking and communication (QBIC's Mix & Match programme), LeanStartup and LeanScaleup programmes, as well as industrial incubation.