Deadline: 6-Jul-21
The Qatar Development Bank (QDB) is pleased to launch the 2021 Qatar Entrepreneurship Awards (ROWAD Awards), a biennial initiative that celebrates successful Qatari Entrepreneurs and their achievements in boosting innovation and spreading a culture of Entrepreneurship in Qatar.
QDB is organizing the third edition of the ROWAD Awards to promote the spirit of innovation and Entrepreneurship among SMEs in Qatar, by recognizing and celebrating outstanding Qatari Entrepreneurs who have demonstrated excellence throughout their work and have positively contributed to the national economy.
Objectives
The key objectives of the award:
- Recognize top performing SMEs/Entrepreneurs who have created sustainable business models, achieved business growth, and have made an impact on the economy of Qatar
- Provide a platform for Entrepreneurs to showcase their excellence and be role models for future Entrepreneurs
- Inspire and motivate the business community in Qatar and promote competitiveness among Entrepreneurs both locally and internationally
- Create a culture of embracing best practices, innovation, and business excellence
- Enable Entrepreneurs/SMEs to identify areas of development and promote efficient management practices
Categories
Applicants are allowed to apply for only one award category from the following list.
- Best SME of the Year Award Category – Winner’s Prize QAR 100,000: This award recognizes the best performing SME in Qatar that has made significant contributions to the country and showcased excellence in all aspects of the business. The award aims to create a role model in Qatar for adopting best business practices and performing consistently through effective leadership, constant innovation, achieving internationalization, managing the business efficiently, and contributing towards supporting local enterprises, their employees, and other stakeholders.
- Best SME in Innovation Award Category – Winner’s Prize QAR 100,000: This award recognizes the best SME that has created innovative products/services and instilled a culture of innovation within the organization. The award aims to create a role model in Qatar for adopting innovative business practices and encourage SMEs to grow through product/service innovation. The award will evaluate the applicant’s success in creating a culture that promotes innovation within the organization as well as the real-world impact the SME has showcased in various areas of business as a result of adopting innovative solutions.
- Best SME in Localization Award Category – Winner’s Prize QAR 100,000: This award recognizes the leading SME that has achieved a high degree of localization and has contributed to self-sufficiency in the State of Qatar. The award aims to create a role model in Qatar for adopting strategies that have contributed to self-sufficiency goals by procuring or producing locally, hiring local talent, and those that have achieved import substitution by replacing demand for foreign products/services with local alternatives.
- Exporter of the Year Award Category – Winner’s Prize QAR 100,000: This award recognizes the best performing SME that has been successful in the internationalization of its business by increasing its exports and presence in international markets. The award aims to create a role model in Qatar for adopting business practices that have resulted in growth and recognition internationally. The award will evaluate various measures adopted to improve international sales such as product customizations, export business development activities, innovation, etc.
- Best SME in Sustainability Award Category – Winner’s Prize QAR 100,000: This award recognizes the leading SME that has incorporated core business practices to drive sustainability across all areas of business. The award will be granted to the best performing SME that has a proven track record of driving sustainability through commitment towards the environment, people, society, and business profits The award aims to create a role model in Qatar for adopting best practices that showcase the SME’s commitment towards protecting the environment and conducting its business in a way that helps the overall development and welfare of society, employees, and all stakeholders.
- Best SME in Quality – Winner’s Prize QAR 100,000: This award recognizes the leading SME that has taken steps to promote and put emphasis on quality in business operations and its products/services. The award aims to create a role model in Qatar for upholding the highest quality standards in every area of operation, and inspiring other SMEs to adopt best practices to improve the overall quality standards in line with the global benchmarks for quality. The award will cover an assessment of all key areas of business to identify whether best practices related to quality excellence are followed.
- Microbusiness of the Year – Winner’s Prize QAR 100,000 / In Partnership with “Nama”: This Award recognizes the best microbusiness that has efficiently managed its operations, introduced new products or services, improved its existing products or services, and developed a sustainable business model. This award aims at defining an exemplary model in Qatar for adopting best business practices and performing consistently through effective leadership, constant innovation, technology adoption, and creation of strong brand value.
Eligibility Criteria
The key eligibility criteria for the Award Category are as follows:
- Small and Medium Enterprise (SME) Definition: The applicant should satisfy the national SME definition in the State of Qatar ( National SME Definition )
- Age of Entity: The SME should be operational for not less than three years
- Award Category Selection: Applicants are allowed to apply for only one award category in the awards cycle. Therefore, applicants should choose the award category that is most suitable for them based on the award description
- Independence: An entrepreneur or owner of an SME who is directly or indirectly related to any employees of QDB or the members of the Jury is ineligible to apply for the award program
- Previous Winners: Winners of the previous cycle are ineligible to apply for the same award category in which they have won previously (Note that the Self Sufficiency Award is now called as Best SME in Localization)
- Audited Statements: All applicants should mandatorily have at least three years of audited financial statements (2017-18, 2018-19, 2019-20)
- Nationality: The main applicant should be a Qatari national who has a majority/significant ownership (minimum 51%) in the SME
- Holding Companies: Holding companies cannot participate in the award
- Trading Companies: Trading companies are ineligible to participate in the award program.
For more information, visit https://www.qdb.qa/en/Pages/rowadqatar2021.aspx