Carnegie Mellon, Qatar Development Bank Collaborate to Meet Real Business Needs of Qatar

Press release
Published January 31st, 2018 - 01:17 GMT
Abdulaziz Bin Nasser Al-Khalifa, CEO of Qatar Development Bank, sees cooperation with academia as a key to supporting aspiring entrepreneurs.
Abdulaziz Bin Nasser Al-Khalifa, CEO of Qatar Development Bank, sees cooperation with academia as a key to supporting aspiring entrepreneurs.

Qatar Development Bank’s Abdulaziz Bin Nasser Al-Khalifa stated that collaborations with academic institutions like Carnegie Mellon University in Qatar (CMU-Q) improve the services and support available to aspiring entrepreneurs in Qatar. Al-Khalifa, who is CEO of Qatar Development Bank (QDB), was speaking at CMU-Q as a part of the Dean’s Lecture Series, a forum for leaders in business and government to discuss issues that affect the future of Qatar and the world.

Al-Khalifa discussed the role of competitions like Al Fikra, QDB’s national business plan competition that is organized in collaboration with CMU-Q. He noted, “CMU-Q played an integral role in ensuring this business plan competition was launched in Qatar. With the support of CMU-Q, we are able to merge academia with the real business needs in Qatar to solve the challenges facing the public sector.” The sixth annual Al Fikra competition was announced in December.

Michael Trick, dean of CMU-Q, commented: “As the opportunities for entrepreneurs in Qatar grow, we find our students and alumni increasingly look to entrepreneurship as a viable career option. These startups need nurturing and support now—and the QDB is a leader in this area—but these businesses can become the engine that drives the Qatar economy.”

Al-Khalifa discussed how the QDB’s efforts to diversify Qatar’s economy focus primarily on supporting local SMEs: “Today, we have around 25,000 private sector establishments, 97 percent of which are SMEs, so the role of QDB in enhancing the participation of SMEs and entrepreneurs in the market is of immense importance.”

Background Information

Carnegie Mellon University Qatar

For more than a century, Carnegie Mellon University has challenged the curious and passionate to imagine and deliver work that matters. A private, top-ranked and global university, Carnegie Mellon sets its own course with programs that inspire creativity and collaboration.

In 2004, Carnegie Mellon and Qatar Foundation began a partnership to deliver select programs that will contribute to the long-term development of Qatar. Today, Carnegie Mellon Qatar offers undergraduate programs in biological sciences, business administration, computational biology, computer science, and information systems. Nearly 400 students from 38 countries call Carnegie Mellon Qatar home.

Qatar Development Bank

To develop and empower Qatari entrepreneurs and innovators to contribute to the diversification of the Qatari economy, through successful small and medium enterprises that are able to compete in global markets.

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