Posted on May 30, 2016

The Bedaya Center for Entrepreneurship and Career Development (Bedaya Center), a joint initiative by Qatar Development Bank and Silatech recently hosted its monthly workshop. This month’s theme was about finance with special focus on the latest funding resources & methods available to support and develop local startups.

The workshop garnered good response from entrepreneurs and startups, keen on understanding the best ways and methods to finance their projects and businesses. The group met with several experts from the field of finance. For instance, Amna Jassim Sultan, Head of Advisory at Qatar Development Bank (QDB) focused on the diverse toolkits and comprehensive services offered by the bank for small and medium projects. These included accounting services, know-how to conduct a feasibility study for new projects, as well as services that aimed to support & promote their growth and development within the private sector entities in the State of Qatar. She observed that these services are supported by the Bank by offering up to 70% of the total cost.

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From his side, Walid Saleh Hadeid, Relationship Manager, Al Dhameen Department at QDB, spoke about the Al Dhameen program that aids in procuring funding from the banks participating in the program. He furthered explained that "Al Dhameen" covers the risks that they may be exposed to, including the project's failure to repay the funding or part of it. He added that the Bank considers it as an incentive to finance entrepreneurs and help them start their projects and achieve their dreams.

Mr. Nizar Radwan Darwish, Manager of Investment-Equity Fund, talked about the capital investment fund for innovative start-ups and small and medium enterprises, which was launched by QDB last year. He explained that the Fund supports and encourages entrepreneurs to develop small and medium-sized enterprises through a number of services and initiatives. He added that QDB will cater to all their needs under one single platform, and also offers single-window services.

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Reem Al-Sowaidi, General Manager of Bedaya Center, commented: “At Bedaya Center, we strive to conduct such monthly gathering in order to support and develop entrepreneurs. Such workshops provide a means to interact with expertise and specialists in all fields. The objective of today’s meeting was to connect them with financing authorities who will help them start their projects or develop them. QDB, is considered the most important supporter of entrepreneurs as well as small and medium enterprises, and also serves as a strategic partner in facilitating access to financing.”