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Q & A with Aysha Al-Mudahka, CEO of Qatar Business Incubation Center
Why was Qatar Business Incubation Center( QBIC) established?
QBIC was established in order to provide all the necessary means that will help Qatari entrepreneurship to thrive and flourish – including funding, office space, mentorship, and guidance.
Today, it has grown into a leading mixed-use business incubation center, providing business support services to help entrepreneurs and companies who either have an idea to start a business, or want to grow an existing scalable company.
It is backed by respected government institutions that are seen as leaders in promoting entrepreneurship in Qatar: Qatar Development Bank and Nama.
Why is QBIC’ s work important as Qatar moves forward to become a knowledgebased economy?
The Government of Qatar is keen on developing and heavily investing in the private sector, as in the long run this diversification is what aids Qatar in transforming into a knowledge-based economy. This is also the vision of one of our founders, Qatar Development Bank, which strives to diversify the market by supporting and creating a strong SME sector. QBIC supports that vision by providing incubation opportunities. We support innovative start-ups and provide them with the tools that they need in order to grow their businesses.
QBIC’ s goal is to foster innovative ideas and help create the next business leaders of the country. Since our establishment three years ago, we have become one of the largest incubation centers in the region. We have aligned our strategy with Qatar National Vision 2030, and are therefore focused on carefully targeted sectors.
For example, we have partnered with Qatar Tourism Authority( QTA) to set up a specialized incubator, QBIC Tourism, which focuses on incubating start-ups in the tourism sector. We have also partnered with Ooredoo Qatar to set up the specialized incubator“ Digital and Beyond”, which focuses on supporting start-ups which will provide digital solutions.
Of which QBIC achievements are you most proud?
Here at QBIC, we’ re particularly proud of all our incubated start-ups’ achievements. Their success is our success and nothing makes us happier than to see them prosper and grow.
Some of our start-ups have reached new heights this year that are particularly noteworthy, including Trifoglio, a local brand which aspired to reach international markets.
Trifoglio produces fine leather bags and jewelery inspired by the clover flower. They recently exhibited their products at the Doha Jewelery and Watches Exhibition alongside globally-renowned brands. Their booth was visited by members of the royal family including His Highness the Emir, Sheikh Tamim bin Hamad Al-Thani.
Oola Sports is another example: a brand that designs comfortable and trendy sportswear for women while being mindful of the culture in Qatar and the region.
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