Qatar Development Bank (QDB) and M7, a creative startup hub operating under Qatar Museums, have announced the launch of ‘Scale7’, a business incubator for innovative entrepreneurs in Qatar.
Scale 7 aims to develop and nurture a creative and artistic ecosystem to incubate and support Qatari entrepreneurs, small and medium enterprises (SMEs), and pioneering emerging industries in the fields of fashion, design and technology.
Scale7 is located at M7’s premises in the heart of Msheireb Downtown Doha. M7 serves as a creative ecosystem that supports Qatar’s aspiring design, fashion, and tech entrepreneurs through business incubation, training, and connections to industry leaders.
In addition, the creative hub aims to stimulate creativity among all segments of the wider community through exhibitions, performances, films, educational programmes, and public discussions. M7 also opens channels of communication and fosters collaborative opportunities between designers in Qatar and the rest of the world.
QDB CEO Abdulaziz bin Nasser al-Khalifa said: “We are elated to announce the launch of Scale7, the first business incubator for creatives in Qatar, which will be the first and most important platform to enhance the role of enthused entrepreneurs and aspiring Qatari designers in creating and producing Qatari brands in the field of fashion, design and related technology.
“The incubator will provide the creative entrepreneurs with all the tools, know-how and expertise necessary to help them develop their ideas from initial concepts to final products that can compete in local, regional and global markets.”
He added: “The partnership with M7 is an important pillar of our vision and plans at QDB, as we strive to build a robust national network that helps achieve the country's goals in diversifying the national economy, which aligns with the Qatar National Vision 2030.”
Commenting on the launch of Scale 7, Qatar Museums CEO Ahmad Musa al-Namla said: “The launch of the fashion and design business incubator, Scale7, is the culmination of a joint effort with QDB to support Qatari entrepreneurship and emerging SMEs.
“The initiative aligns with M7's role to advance Qatar's spirit of innovation and creativity, contribute to the diversification of the economy, and promote the nation on the world stage.”
QDB will deliver training, mentoring, and organising seminars and workshops on the technical aspects of business management, providing support tailored to suit the ever-changing needs of entrepreneurs, in addition to offering networking opportunities with the local business community. QDB will also work on connecting Scale7 innovators with potential investors, clients and partners in Qatar.
Through Scale7, entrepreneurs will be able to participate in a 10-week training programme on how to launch and grow projects with the participation of prominent mentors and successful industry leaders, with the aim of providing them with a comprehensive understanding of how to operate a successful business in the fashion industry, and enabling them to transform their ideas into Qatari fashion brands with global aspirations.
Through a series of seminars, leading industry speakers will share their secrets of success and inspire the talented entrepreneurs to take their brands forward. In addition, various joint events and fashion shows will enable entrepreneurs to showcase their talent to the influential audiences within the sector.
The resounding success of the Lean Fashion Programme (LFP), launched by Qatar Business Incubation Centre (QBIC), motivated countless local entrepreneurs and designers to venture into the fashion and design industry.
Through the programme, several entrepreneurs qualified to participate in the acceleration phase, which was held in Milan. This represented the cohort’s first international experience, which offered them a platform to interact with elite designers, manufacturers and international project managers. LFP was the springboard from which Scale7 was conceived.
Scale7 is considered the fourth incubator QDB has co-founded, and is the latest initiative in the bank’s efforts of expanding its incubation and acceleration footprint. This launch follows the tremendous success QBIC has enjoyed, as well as the recent impact of Qatar SportsTech and Qatar FinTech Hub.
Investing in business incubators and accelerators is a fundamental pillar of QDB's strategy in empowering and supporting entrepreneurs at all levels, with an overarching responsibility of developing the private sector and the entrepreneurial ecosystem in the country.Last updated: March 06 2021 09:04 PM
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