Date: October 24, 2021
Zubair Small Enterprises Centre (Zubair SEC), participated in the fourth GCC Business Incubators and Accelerators Conference held in the Kingdom of Bahrain from 18-21 October, organised in-person and virtually. Zubair SEC was represented by Said Al Sahib, Director of Zubair SEC and Zaima Saif Nasser Al Salami, a Zubair SEC member and founder of Grandma’s Mixes. The GCC conference was organised by the Bahrain SMEs Development Society in cooperation with Bahrain’s Ministry of Industry, Commerce and Tourism.
Commenting on the participation, President MP Ahmed Sabah Al Saloom Director of Bahrain SMEs Development Society, said, “We are thrilled to witness the participation of the Zubair SEC in the GCC Business Incubators and Accelerators Conference. This is an affirmation of the Centre’s continuous endeavour in supporting SMEs in the Sultanate alongside enhancing its expertise by participating in regional conferences”.
“The conference for this year highlights the role of governmental sectors, especially those that specialise in industry, commerce and tourism, in promoting the business incubators and accelerators sector. This is made possible by enacting legislation and amending laws in order to support these industries that play an integral role in the advancement of any country’s economic development,” he added.
From his side, Said Al Sahib, Director of Zubair SEC, said, “We are proud of the Centre’s continued participation for the fourth time in a row at this GCC conference. The event is aimed at developing the sector startups and entrepreneurship through knowledge and experience exchange with participating representatives from the incubator and accelerators sector. We believe that this is an opportunity for us to benefit from the proficiencies of the participating countries in terms of methods used to manage incubators and business accelerators.
Said Al Sahib, Director of Zubair SEC participated in the discussion panel, highlighting the challenges facing business incubators and accelerators. He shed light on the important role of these Centers for the SME sector and the presence for several such facilities in the Sultanate alongside entrepreneurship centres in some universities and colleges, to incubate students’ projects.“We need legislation and regulatory frameworks that will stimulate the work of incubators to encourage large institutions to adopt such businesses. As far as I am aware, certain official institutions that are interested in developing SMEs are working on organising this aspect and setting legislative policies that will regulate business incubators and accelerators. Without this step, benefiting from the output of incubators will remain stagnant, making it difficult to reach the required level that we aspire to achieve, especially with regard to expanding the SME base to contribute effectively to the economy. A majority of projects that fall under business incubators and accelerators needs advisory services and guidance, in addition, to support in developing projects, products, work plans, financial facilities. This also includes an indication of how they can offer them the market and the necessary training needed to play an influential role in the economy. At Zubair SEC, we understand the importance of incubation and have therefore implemented a direct support programme that assists several projects each year. Through the programme we extend our support and guidance and help them ‘remotely’ solve challenges faced, from the comfort of their workplaces while they carry out their business. We are also undergoing a process to establish an incubator and a business accelerator as it encourages the youth to become entrepreneurs since there is a key focus on generating awareness of the importance of business and competition among this segment in our region. In fact, we have seen a number of creative and innovative business ideas, since more information has become accessible to the entrepreneur for research and study, together with guidance and support in the financial and legal aspects. However, incubators provide an array of services to entrepreneurs that encourages them to start their business with the knowledge that there is an institution backing them up and providing requisite support and guidance. Collectively, this will contribute to accelerating business and creating a positive impact on the economy,” Said added.
Commenting on the role of the private sector, Said Al Sahib said, “Organisations within both public and private sectors are aware of the importance in developing regulatory frameworks and procedures for business incubators. On the other hand, large companies in the private sector are keen to extend support towards small businesses within the incubators and business accelerators, due to their qualifications and high factors of success. The support of incubators by the private sector is complementary to the role played by official authorities to ensure that the outputs align with the quality and ambition of private sector organisations. This way, the products and services of these businesses are innovative, competitive and of high quality, ready to develop new markets that complement and enhance the role of the private sector. Some studies indicate that a high percentage of incubators’ output projects have achieved sustainability, highlighting its importance”.
Zubair SEC hosts prior experience because of its ‘Tajseer’ program that connects the products and services of the SMEs with the requirements of the large companies. This makes room for collaboration between both parties to provide the required service that helps in achieving common interests.
With regard to solutions to create a promising environment to support business incubators and accelerators, Said Al Sahib stated, “It is the perfect time for our region to create a promising environment to support business incubators and accelerators. As we all know that during the past few years we have experienced low oil prices and economic stagnation that varies from one country to another. Large government projects that were initially supposed to help the market and create job opportunities have decreased, making SMEs a key contributor to the economy. This is because several businesses can be established by SMEs together with the presence of well-informed national manpower that can assist in the establishment of these businesses.
Hence, it is necessary to create an incubating environment for these businesses. This can be done by developing legislative and stimulating facilities that are in line with the targeted economic sectors.
In the long run, creating business centres and expanding the base of incubators at the school level will create a generation well-prepared with entrepreneurial, innovative and creative business ideas.
Entrepreneur Zaima Al Salami gave a visual presentation about her project and showcased her experience with the Zubair SEC. Commenting on the financial and advisory support she received during her establishment period until the expansion stages, she said. ” Zubair SEC has played a significant part in supporting me financially and extended guidance during the establishment phase of my project – Grandma’s Mixes. The Centre provided all kinds of marketing, administrative and legal advice, each having a great impact on the stability of the project and its successful launch. Moreover, Zubair SEC contributed to the development of the production line and the commercial identity of my project. My experience is a testimony of the vital role that business incubators and accelerators such as Zubair SEC play in paving the way for entrepreneurs to contribute towards the macroeconomic system. I would like to thank and express my gratitude to Zubair SEC for this incredible opportunity to participate in this key regional conference.”
Zubair Small Enterprises Centre (Zubair SEC) is one of the most important initiatives emanating from the strategic vision of the ‘Zubair Corporation’ for its social responsibility, which reflects the corporation’s belief in the importance of small enterprises in advancing the national economy and contributing to sustainable economic and social development. Established in 2013, Zubair Small Enterprises Centre (Zubair SEC) is a professional body that capitalises on its high professionalism, diversified offered knowledge, a wide range of accumulated expertise and its own global and local network and strategic partners. The Centre provides a wide range of services which include clinical solution-based advisory, capacity building, networking platforms, business development, and a yearly programme that selects ten winners who receive a financial grant, as well as intensive advisory services, branding, packaging, product stabilisation, as well as business development.