Jun 08, 2021 by QDB
Qatar Development Bank (QDB) announces the launch of the Rowad Awards 2021 in its third edition. The Awards are aimed at encouraging sustainability and developing entrepreneurs and SMEs across various sectors in Qatar, in addition to enhancing the spirit of competition in the private sector and instilling a culture of adopting the best practices, innovation, and commercial excellence.
Prizes this year will be awarded in seven categories: Best SME of the Year Award Category, Best SME in Innovation Award Category, Best SME in Localization Award Category, Exporter of the Year Award Category, Best SME in Sustainability Award Category, Best SME in Quality Excellence Award Category in partnership with the Ministry of Commerce and Industry, and Best Microbusiness of the Year Award Category, which was newly added this year in partnership with NAMA Center.
SMEs wishing to participate must complete their applications before the registration closes on July 6, 2021. QDB will assess all applications submitted for the seven prizes and select a winner for each category. The names of the winners will be announced during the opening ceremony of the Rowad Qatar Awards Conference in November 2021.
QDB’s CEO, Mr. Abdulaziz bin Nasser Al Khalifa, CEO of Qatar Development Bank, explained that new categories have been added to the award for this year. Al Khalifa said:
“Qatar Development Bank is building on the success of the two previous editions. The Rowad Awards 2021 constitute an exceptional platform within Qatar’s business entrepreneurship community to celebrate distinguished projects as well as exchange experiences between small and medium enterprises and build on their successes.
Al Khalifa added: “The main goal of the Awards is to support, stimulate and develop the entrepreneurial environment and unify efforts between the supporting parties to direct attention towards these companies, as well as to stimulate competition between the different SMEs and build bridges to celebrate them and their successes.”
Eligibility criteria for the Rowad Awards require the participant to be Qatari or own at least 51% of the company. Additionally, their project must meet the criteria specified for each award category, including satisfying the national SME definition, and submitting the audited financial statements for three previous years. Technology projects and innovative solutions must demonstrate having a social, economic, or environmental impact.
The process of qualifying for the award begins by applying on the website and filling in all the required information and providing the needed documents. Then, an initial screening process takes place for the applicants, to filter out all incomplete applications and applications that do not meet the basic eligibility criteria. Afterwards the initial filtering process takes place, and it involves shortlisting of applicants based on pre-defined quantitative criteria for each Award Category. This stage is followed by a site visit for evaluation, and then the management interviews with the jury, which consists of members of the entrepreneurial ecosystem. All winners will be announced during the Global Entrepreneurship Week on November 8.
We invite aspiring entrepreneurs and SMEs in Qatar to enter the award website: https://www.qdb.qa/en/Pages/rowadqatar2021.aspx, thoroughly read about the award categories and criteria, and choose the category that suits them best. Entrepreneurs and SMEs wishing to take part in the Rowad Awards 2021 journey can apply for one award category only, in which the winner receives 100,000 Qatari Riyals.
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