Sasol Renews Main Sponsorship for Al Fikra Business Competition

For the fourth year in a row, the international integrated chemicals and energy company, Sasol has announced its support for the “Al Fikra National Business Competition.” Organised by Qatar Development Bank (QDB) and its partners, Al Fikra, now in its fifth year, is intended to be a catalyst for entrepreneurship in Qatar.

Sasol previously supported the 2013 and 2014 editions of the Al Fikra competition as Technology Sponsor and as Platinum Sponsor, respectively. In 2015, Sasol elevated its support to become main sponsor.

Commenting on the Al Fikra sponsorship, Henk Joubert, Operations Manager, GTL Ventures, Sasol, said, “Sasol is pleased to once again support QDB as main sponsor of Al Fikra. The competition represents the notion that great ideas can become successful businesses with the right support. Entrepreneurs have ideas, but often need assistance and the spark of competition to get them going on their business journey. We admire this competition because it takes a holistic view to the entrepreneurship ecosystem – providing financial and non-financial support and benefits to participants.”

The Al Fikra business competition was designed by QDB to support innovative business ideas in Qatar, as well as provide investors a way to contribute to a vibrant economy. In line with the Qatar National Vision 2030, Al Fikra supports the diversification of Qatar’s economy away from a hydrocarbon base to a knowledge-based economy.

Registration for the competition began last month, with training workshops set to take place for entrepreneurs through September and October. The final business plans are due in October, and the final ceremony announcing the winner takes place in December.

Sasol’s sponsorship to Al Fikra is in line with the company’s community engagement efforts in Qatar, and its long term entrepreneurship and SMEs support in its home country South Africa. In May 2016, Sasol launched the Sasol Business Incubator in Sasolburg, South Africa in coordination with government to accelerate the successful development of local start-up SMEs for the manufacturing sector.