Qatar Development Bank (QDB) has hosted the fourth edition of its Retirees Entrepreneurship Programme, ‘Khutwa’, which was organised in collaboration with the General Retirement and Social Insurance Authority at Bin Jelmood House at Msheireb Downtown Doha.
The programme paved the way for retiree entrepreneurs to present their ideas and integrated business plans for their projects that will serve the diversity of the national economy and open up new business horizons.
In its current edition, Khutwa is the culmination of success of its previous editions, as it was able to achieve its goals and objectives to promote new projects and creative ideas.
During the ceremony, 25 applicants presented their ideas but only three made it as finalists. They are Aysha Mohamed al-Homor, who presented the “Training Centre for Women Workers’ project;” Munira al-Kuwari, who presented the “Children’s Sports Center’ project;” and Wissam Zakaria Abou Jbara with the “Photography for Babies” project.
The participants were also selected based on specific criteria such as the market need for the service or product, the value enhancement it offers, presenting an integrated business model for the project idea, proving the interest of the customers about the idea of the project, establishing financial viability for the project, and an assertive presentation in front of the expert panel. The selected entries had five minutes each to present their ideas to the jury members.
QDB executive director for advisory services, Ibrahim Abdulaziz al-Mannai and Khalifa Issa al-Khulaifi, director of the Retirement Department at the General Authority for Retirement, handed over the certificates to the finalists and QR100,000 worth of coupons in the form of ‘Istishara’ services, including marketing consultation, ‘Oqood’ legal consultation, ‘Jadwa’ feasibility study, and financial consultation.
Based on their requirements, winners can select the services they want.
Al-Mannai said, “The launch of Khutwa comes in the context of our strong commitment to support and develop the national economy and contribute to the achievement of the Qatar National Vision 2030. QDB has organised this programme in collaboration with the General Retirement and Social Insurance Authority to build basic skills for retiree entrepreneurs to provide opportunities and conditions for the establishment of successful business.
“Today we were spellbound by the ideas being displayed by the participants who are still buzzing with potential even after the retirement. Through such endeavours, QDB is committed to supporting entrepreneurial activities through different entrepreneurial paths, including developing entrepreneurial cultures, building skills, and supporting growth.”
Al-Khulaifi said, “I believe this is one of the most concrete steps that have been taken to transform retirees’ and pensioners’ ideas into concrete programmes. This initiative has opened new horizons for them through its various services, including training, motivation, free consultation, and financing. “This initiative aims at empowering retired entrepreneurs by creating the right conditions and enabling environment and equipping them with the right skills needed for them to qualify for running small and medium-sized enterprises and manage operations. Today, we are proud of this successful initiative that will qualify a new constellation of entrepreneurs, and we are optimistic of the participants’ abilities in applying all information they have received to achieve the best results and accomplish their
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