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Satyendra Pathak
Doha
A series of initiatives designed to promote entrepreneurship and incubate start-ups in Qatar are strengthening the country’s research, development and innovation (RDI) ecosystem, Oxford Business Group (OBG) has said in its Qatar 2019 report.
In the beginning of this year, the second annual Arab Innovation Academy (AIA) concluded its 10-day intensive workshop designed to equip young entrepreneurs from Qatar and across the region with the skill-sets to develop and launch new tech ventures.
An initiative of the Qatar Science and Technology Park (QSTP), part of the Qatar Foundation Research, Development and Innovation division, and the European Innovation Academy, the AIA saw more than 160 entrepreneurs from 30 countries receive guidance from local and international experts to help them launch their start-ups.
The AIA focused on skills such as team formation, idea creation, and pitching to venture capitalists and angel investors. The programme closed with the participating teams presenting the start-ups they have developed to market specialists and investors.
In addition to opening doors to new technology entrepreneurs, the report said, initiatives such as the AIA will also raise broader awareness of the potential impact of RDI on Qatar’s drive towards economic diversification.
“To realise the economic benefits of innovation, incentivising investment in start-ups and small businesses is key to creating a successful RDI ecosystem,” OBG has quoted QSTP Executive Director Yosouf Abdulrahman Saleh as saying.
“For this we now seek greater participation from the local and international private sector, which in turn would set off a cascading effect through the larger business community in the country,” he said.
One vehicle to drive greater private sector involvement and raise the profile of RDI is the newly founded Qatar Research, Development and Innovation (QRDI) Council.
Established recently, the QRDI Council has been tasked with developing the national strategy to align RDI activities with the country’s economic and social priorities.
Its remit also includes establishing guidelines and regulations for RDI, along with building on existing foundations to create further research and investment opportunities, the report said.
The national strategy will outline policies and initiatives that utilise existing infrastructure to push Qatar’s innovation agenda and reach critical mass in research and development capabilities.
“Moving forward, the goal is to cultivate a healthy innovation ecosystem and a healthy research ecosystem that together drive economic growth and societal impact,” the report said.
By sharpening the focus of national RDI efforts from the early stages of the educational system all the way to higher education, and by fostering a stronger collaboration between the public and private sectors, Qatar is looking to build on the innovation foundations that are already present in Qatari society.
While developing the skill sets needed by entrepreneurs to build and pitch their start-up concepts, the report said, the government is also fast-tracking the next step in the RDI path.
Qatar’s Digital Incubation Centre (DIC), part of the Ministry of Transport and Communications, announced in January this year that 25 local start-ups would be incubated this year at its hub.
Partly funded by the QSTP and the Qatar Development Bank, the DIC invested QR4.7 million in start-up projects last year, with nine companies completing the incubation process.
The 25 new innovations being supported by DIC will take the number of start-ups being incubated by the centre to 58, with 36 having graduated since the centre was established in 2013.
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18/06/2019
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