Entrepreneurship Majlis: A Digital Platform to Bring Entrepreneurs, Investors and Mentors Together

Abstract

Qatar’s economy depends considerably on the hydrocarbon sector, but Qatar has the ambition to diversify its economy and move society toward a sustainable and welfare future by achieving an innovation-driven and knowledge-based development. As evidence, Qatar National Vision 2030 (QNV 2030) also clearly states these targets and shows enthusiasm for the accomplishment. Entrepreneurs and SMEs (small and medium enterprises) hold a crucial role in reaching the mentioned goals by providing diversified economic development and quality job creation. By contrast, large enterprises, public or private, are drivers of economic growth in hydrocarbon-based rentier countries by extracting, processing, and exporting oil and natural gas. These facts imply that entrepreneurship in such countries encounters various obstacles, and thus, their number is very limited to foster sustainable development. Therefore, it is paramount to identify the factors that hinder entrepreneurs’ and SMEs’ growth. The literature shows that the fundamental barriers to financing entrepreneurship in developing countries are the lack of accessible and affordable funds and mentor support. However, the Gulf states, particularly Qatar, are rich countries that should not experience financial deficits for entrepreneurs, and there should be underlying other reasons for discouraging entrepreneurship in those countries. This thesis investigates the fundamental problems in mobilizing domestic capital, particularly providing funds to domestic entrepreneurs, in Qatar to enhance entrepreneurship that helps economic development and diversification, and hence social progress. After a comprehensive literature review, interviews and surveys are conducted with entrepreneurs, investors, and mentors (henceforth called entrepreneurship stakeholders) to determine barriers and obstacles for establishing innovative ventures. According to the feedbacks and reviews, this thesis proposes a digital platform, Entrepreneurship Majlis, with the goals of encapsulating all the stakeholders in a central online place to facilitate (i) exchanges of ideas, (ii) provide mentorship, (ii) and raise affordable funds. This platform will be easily accessible for everyone and tailored for the country-specific features, such as demography, culture, and religion. Last, the proposed digital platform, the Entrepreneurship Majlis (EM), is validated after the second round of in-depth interviews with the stakeholders.

Date of Award	2021
Original language	American English
Awarding Institution	HBKU College of Science and Engineering