18 October 2023, Doha – Qatar: QU and QFC forge a strategic partnership to promote innovation, entrepreneurship, and economic development

In a great step toward strengthening collaboration and innovation in the field of business, Qatar University (QU) and the Qatar Financial Center (QFC) signed a Memorandum of Understanding (MOU), setting the stage for a strategic partnership that promises to reshape the future of Qatar's innovation, entrepreneurship, and economic development.

This collaboration between QU and QFC comes to promote a wide range of initiatives aimed at driving innovation, entrepreneurship, and economic development. With a shared vision of enhancing Qatar's global presence, this partnership is set to create a positive impact on both local and international levels.

Dr. Omar Al-Ansari, President of QU, expressed his excitement about the collaboration: “This partnership is a testament to our dedication to fostering innovation and entrepreneurship in Qatar. We are thrilled to work hand in hand with Qatar QFC to advance our shared goals and fill the gap in the investment wallets in Qatar. We have to understand the real problem facing the investment sector in Qatar and find realistic solutions.”

From his side, Mr. Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, stated, “We are pleased to unite with Qatar University once again. On this occasion, we are combining our resources to advance our shared commitment to stimulate entrepreneurship and promote innovation and economic diversification in Qatar by providing a supportive infrastructure for start-ups. Through this partnership, we facilitate the registration of successful projects from the Qatar University Business Incubator with the QFC, giving them immediate access to tailored services and competitive benefits.”

The collaboration between QU and QFC is set to bring about a host of initiatives to empower the nation's innovation and entrepreneurship through Strategic Innovation, Entrepreneurship, and Economic Development (SIEED) and QU Holding. By leveraging their respective statutory mandates, they will provide crucial services to support these entities, fostering an environment conducive to business growth and development.

The collaboration also aims to define and develop attractive incentive packages to lure international and local companies operating in the research and education technology industry to establish a sustainable presence in Qatar. In addition, QU and QFC will collaborate to create compelling marketing materials that highlight their projects, initiatives, and products, amplifying their impact.

In addition to these initiatives, QU will extend its support to QFC by evaluating proposals involving joint initiatives and projects related to SIEED and QU Holding. This support extends to QFC-related product and service offerings, especially in the fields of technology, research, tax activities, and ancillary services.

It is worth mentioning that QU and QFC have set the stage for a new era of innovation and entrepreneurship in Qatar. This strategic partnership promises to reshape the nation's economic landscape by attracting businesses, fostering innovation, and nurturing talent.