QDB and QRDI sign agreement to support Qatar’s entrepreneurial ecosystem


Qatar Development Bank (QDB) and Qatar Research Development and Innovation (QRDI) Council have signed a Memorandum of Understanding to strengthen their strategic cooperation and support the national entrepreneurial ecosystem.
The agreement aims to open up new opportunities for entrepreneurs, in addition to supporting research, development and innovation in emerging companies.
With a focus on empowering startups in the country, the two parties will inaugurate their cooperation by launching an SME Product Management Bootcamp. In addition, the two parties will cooperate in formulating policy recommendations that promote the innovation ecosystem.
The MoU paves the way for programs to build the skills of entrepreneurs and equip them with the tools to succeed nationally and internationally. The agreement creates opportunities for the exchange of beneficial experiences for both parties and all members of the national entrepreneurial ecosystem.
Abdulrahman Hesham al-Sowaidi, Acting CEO of QDB, highlighted the importance of this initiative and the positive impact it will have on entrepreneurs.
He said, “We are delighted to partner with a leading member of the national business ecosystem. The MoU with the QRDI Council will boost QDB’s efforts to empower entrepreneurs and SME owners. The agreement also places innovation and capacity development at the heart of our work, which will have a positive influence on the local economy as a whole.
Engineer Omar Ali al-Ansari, Secretary General of the QRDI Council, said: “The Council strives to implement the Qatar Research, Development and Innovation Strategy 2030 (QRDI 2030), which serves as roadmap for developing the national innovation ecosystem.
“The QRDI 2030 encourages fruitful cooperation with local and global institutions. Thus, we are proud to enter into this partnership with QDB and to build a positive growth environment for SMEs. It also helps to strengthen innovation activities in large national companies and international companies.
QDB and QRDI will organize their first joint training program in August 2022. The program targets SME owners and will train them in the “manage the product” strategy to improve business capabilities. The program will also help interns lead technology development in the country while equipping them with the knowledge and tools to lead creative projects. The initiative is an essential step in building a national ecosystem that compromises local production leaders.
The council aims to promote Qatar as a regional oasis of opportunity and stability by strengthening research, development and innovation. This involves meeting challenges with new international opportunities and relationships, as well as building national skills and attracting international talent. These are in line with QDB’s strategy as a financial institution responsible for developing the private sector through access to finance, capacity and markets.

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