Qatar Development Bank (QDB) will support Qatari entrepreneurs and innovators, small and medium-sized companies, to help diversify the country’s economy.
QDB signed an MoU with Qatar Scientific Club (QSC) of the Ministry of Sports and Youth regarding the same. This will help diversify Qatar’s economy and increase the capability of competitive companies in local and global market.
The MoU provides for the support of innovators of the Qatar Scientific Club by providing financial grants to develop ideas and engineering designs proving the idea.
It also helps by providing technical consultancy to manufacture and test the prototype for innovation and non-material support by providing workshops.
This covers customized training, work plans and linking inventors and innovators with specialized business incubators of the Qatar Development Bank.
The MoU also includes new entrepreneurship and innovation programs, updating of existing programs with the latest international methods.
The MoU was signed by Acting Chief Executive Officer of QDB Abdulrahman bin Hisham Al Suwaidi and Executive Director of the QSC Engineer Rashid Al Rahimi.
Rashid Al Rahimi explained that the Qatar Scientific Club aims to provide an appropriate and supportive incubator for innovators and entrepreneurs.Â