Qatar Business Incubation Centre (QBIC), founded by Qatar Development Bank (QDB) and Social Development Centre (SDC), signed a memorandum of understanding (MoU) with Paris&Co, the economic development and innovation agency of Paris.
The MoU aims to establish a mutually-beneficial relationship between Doha and Paris to support incubation of startups through the sharing of knowledge and services provided by each incubator, QBIC said in a statement.
It allows both parties to exchange advice, support and connections, while offering select start-ups the opportunity to establish their business in Doha and Paris, the statement also said.
The mayor of Paris, Anne Hidalgo, and QBIC chairman Abdulaziz bin Nasser al-Khalifa signed a document endorsing the MoU between QBIC, represented by its CEO, Aysha al-Mudahka,  and Paris&Co, represented by its co-CEO, Karine Bidart.
French ambassador Eric Chevallier was present at the signing ceremony held on the sidelines of Global Entrepreneurship Week (GEW) Qatar at the Doha Exhibition and Convention Centre (DECC).
“We are truly happy of this MoU because it is a new step in the economic and knowledge cooperation between our two countries in favour of startups and small and medium-sized enterprises (SMEs) development, in line with the Qatar’s National Vision for 2030.
“We believe that this cooperation will be fruitful and will foster the commitment of both Doha and Paris in the forward-looking sector of tourism. France has a lot to share in this field, and it has also a lot to learn from Qatar’s dynamism,” Chevallier said.
Al-Khalifa said, “We strongly believe that to achieve the Qatar National Vision 2030, we must dedicate ourselves to developing the private sector through supporting SMEs. QBIC is making every effort to support this mission by empowering promising entrepreneurs to contribute to the economy.
“As a well-established incubator, Paris&Co enjoys a wealth of experience in the entrepreneurship field, and we look forward to introducing our incubatees to the new and exciting opportunities presented by this agreement.”
This is expected to be particularly beneficial to startups incubated in QBIC Tourism, which was established in cooperation with Qatar Tourism Authority (QTA) to enable entrepreneurs to develop products and services that enhance the Qatar tourism experience.
“France is a premium destination sought-out by tourists all around the world. This agreement will bring countless insights and experiences to startups in QBIC Tourism,” said al-Mudahka.
Qatari-French trade relations have grown significantly over the past few years. In 2015, bilateral trade reached QR7.5bn in value, compared with QR4.7bn in 2010.