The COMPETITION

Qatar National Business Competition (Al Fikra) is an educational and coaching program designed for Qatari led Start-ups and entrepreneurs, enabling them to develop business ideas that can be turned into private successful adding value businesses.

The program will run over 5 months period from Dec 6th until the forth week of Apr 2018. During this period, creative and innovative ideas will be recognized, developed and supported by Qatar Development Bank and its strategic partners throughout the different stages of their development.

Who is it for?

    • Students, Professionals and entrepreneurs with business ideas for Qatar

    • For Teams (3 members only) of Residents living in Qatar, a Qatari partner per team is required in order to set a business with a legal structure that could be operated and registered in the state of Qatar.

Objectives

The Business Competition program is designed to encourage the establishment of new companies and foster a culture of entrepreneurship in Qatar. The business competition is invaluable to entrepreneurs who seek to pursue new business opportunities and to wider stakeholders such as investment firms, banks and strategic partners who enable the creation of new businesses.

1.    Provide opportunities for people with creative ideas by providing a platform to turn their ambitions into real projects through supportivepackages to assist the establishment of their businesses.

2.      Spread awareness about the concept of investment in business sectors and promote community interest in starting new enterprises

3.      Educate applicants about the process of creating and evaluating new business projects.

4.      Train applicants to seize the investment opportunities in the field of projects on certain conditions.

5.      Provide governmental and quasi-governmental agencies an emerging new projects contribute in solving some of the challenges, and thus boost the economic system for new projects.

6.      Developing a business plan into an operating business

7.      Enable entrepreneurs to set aims and objectives and thereby measure and monitor performance

8.      Introduce entrepreneurs who seek to pursue new business opportunities to investment firms, banks and strategic partners. Communicate to stakeholders business opportunities and execution plans

The teams will go through two qualification rounds: one at the beginning of the competition for validation of the application, and the second after attending the training courses and submitting the updated business plan of the team; the Qatari partner should be the formal representative of the team in all the rounds and main pitching activities.

Judging criteria

A committee of  Evaluators from the Business Community and Qatar Development Bank and the official partners will be dedicated to evaluating the business ideas and the applicants of Al Fikra participants and select the qualified teams. Then Finalists will be presented to a judging panel in the final ceremony to be evaluated on their idea creativity, innovation, scalability and feasibility.  

 

 

Awards: QDB will provide the following prizes for the first three winning teams:

Winning Team

Reward Package Details

1st Place

·        2+1 years of Incubation offering office spaces at QDB & QBIC

·        Eligibility for access Musharka investment program up to 400,000 QR convertible note and milestone basis.

·        100,000 QR advisory services coupon valid for 2 years.

 

2nd Place

·        2 years of Incubation offering office spaces at QDB & QBIC

·        Eligibility for access Musharka investment program up to 300,000 QR convertible note and milestone basis.

·        100,000 QR advisory services coupon valid for 2 years.

 

3rd Place

·        1 years of Incubation offering office spaces at QDB & QBIC

·        Eligibility for access Musharka investment program up to 200,000 QR convertible note and milestone basis.

·        100,000 QR advisory services coupon valid for 2 years.