Doha, Qatar: Entrepreneurs and innovators in Qatar will now have access to a wide range of technologies and tools to propel their success thanks to a new partnership between Qatar Development Bank and Microsoft. The partnership aims to accelerate the digital transformation of startups and SMEs and to foster innovation as part of QDB’s integrated efforts to bolster the local entrepreneurship ecosystem and talent pool as well as Qatar’s position as a regional innovation and technology hub.

The partnership will enable SMEs to benefit from emerging technologies, leveraging Microsoft Cloud to improve performance, boost productivity, reduce costs, and develop innovative solutions.

The initiative will also provide SMEs with the opportunity to build their digital skills through the Microsoft Learn platform, which equips entrepreneurs, leaders and employees with the necessary skills to leverage cloud technology to accelerate digital transformation and achieve growth in a knowledge-based economy.

Startups under Qatar Development Bank’s umbrella will also now have access to Microsoft’s Founders Hub, a platform that brings together people, knowledge, and technology to help founders solve challenges in every stage of their ambitious journey.

Microsoft will also offer access to learning tools to enable entrepreneurs and startups to leverage cloud technology such as artificial intelligence, data analytics and the Internet of Things to launch a successful business.

Commenting on this partnership, Mr. Abdulrahman Hesham Al Sowaidi, Acting CEO of QDB said: “This partnership provides access to an advanced set of digital platforms, and guarantees the readiness of our innovators and startups to pursue aspirations that fall in line with our goals of developing Qatar's entrepreneurship ecosystem and strengthening the country's position as a center for innovation and technological excellence.”

Lana Khalaf, General Manager, Microsoft Qatar, expressed her enthusiasm about the partnership with Qatar Development Bank which aligns with the company’s investments to empower in the startups and SMEs ecosystem in Qatar. She said, "Startups and SMEs play a pivotal role in accelerating Qatar’s digital economy and its position as an innovation hub for investment. Through this initiative, businesses will have access to the latest cloud technologies and digital skills needed to achieve their business goals and contribute to Qatar’s economic growth and development. This partnership supports our efforts to be the preferred and trusted partner for cloud innovation for all sectors of the economy in Qatar."

QDB’s partnership with Microsoft is the latest in a series of initiatives to bolster capacity development and build a diversified entrepreneurship ecosystem that drives economic development.

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About Qatar Development Bank (QDB)

Qatar Development Bank (QDB) was established in 1997 as the Qatar Industrial Development Bank, a 100% government-owned developmental organization. Its primary aim was to develop investments within local industries, thereby accelerating growth and economic diversification in Qatar through support for the private sector.

QDB has achieved significant milestones in recent years, playing a chief role in growing Qatar’s private sector. QDB has also played an integral role in stimulating national economic and social development, through funding a variety of local projects and providing support to the private sector through a range of innovative services. By adopting this strategy, QDB has contributed to empowering Qatari entrepreneurs, improving the standard of living, as well as allowing Qatari entrepreneurs to benefit from a wide range of promising investment opportunities, and to develop their exporting potentials while supporting their entry to new international markets.

QDB’s strategy is entirely in line with the Qatar National Vision 2030. It is focused on promoting and facilitating the growth of the private sector in key economic sectors, with the aim of building a diversified, sustainable economy.

QDB aims to promote entrepreneurship spirit within the private sector in Qatar through providing the necessary services that shall ease the growth, development, and diversification of this sector. In doing so, QDB offers access to information, incubation, and capabilities to SMEs, in addition to access to capital through direct and indirect financial services, investment and access to local markets, and access to international markets for Qatari exporters though export insurance and funding services.

About Microsoft

Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.