Qatar Business Incubation Center (QBIC) announces the winners of the ninth wave of its Lean Startup Programme (LSP) at a momentous Demo Day where 11 startups out of over 100 were chosen to join LSP 9. The chosen entrepreneurs faced a panel of judges, investors and key partners at the QBIC Campus. QBIC is owned by Qatar Development Bank (QDB).
QBIC’s most recent outreach campaign – calling on budding entrepreneurs to take part in diversifying the country’s economy – reached out to the nationalism within the Qatari population and ended up greatly contributing to the record number of startups accepted to join LSP 9.
Throughout the ten-week programme, entrepreneurs worked diligently on developing their ideas and building prototypes in preparation for Demo Day, using the Business Model Canvas as part of the ‘lean’ methodology. Seven out of the 11 startups who pitched at Demo Day were chosen to be incubated– which is another record breaker for QBIC – and will be receiving mentoring services, office spaces and financial support to start turning their ideas into viable businesses.
Demo Day 9
Demo Day 9 showcased business ideas from the fields of education, marketing, F&B, and ICT. Startup ideas in the field of tourism fell under the specialised QBIC Tourism incubator, guided by Qatar Tourism Authority. Ideas in the area of technology were assigned to the specialised Digital and Beyond incubator, powered by Ooredoo Qatar. A number of startups from the South Korean Incubator Kstartups, one of QBIC’s partner organisations, participated in Demo Day 9 and pitched their business ideas to the audience. The Korean startups also mingled with key members of the local entrepreneurial ecosystem in hopes of developing mutually beneficial partnerships.
Qatar Development Bank CEO and QBIC Chairman Abdulaziz Bin Nasser Al Khalifa said that the Demo Day is a very special one for QBIC.
Following the campaign we launched during the summer, we were extremely proud of the results; the increased interest from our fellow aspiring Qatari entrepreneurs was inspiring, and we ended up accepting the largest number of startups to our LSP. Today we witness these aspirations come to life and we could not be more pleased with their incredible achievements.’
QBIC CEO Aysha Al Mudahka said she called upon all promising Qatari entrepreneurs to step up and work towards growing and developing the country’s economy.
Today, here they are, proudly showcasing their hard work and demonstrating their perseverance. I can definitely say that we’re well on our way to developing a strong private sector, achieving self-sufficiency and contributing to the goals set by HH the Emir for Qatar National Vision 2030.’
Gold sponsor Qatar National Bank, was represented by Yousef Mahmoud Al-Neama, General Manager for Group Corporate and Institution Banking. He said that through these events, QNB is affirming its commitment to support the local entrepreneurs in Qatar.
Incubated companies are expected to complete a three-month probation period, where they will be setting milestones to ensure their business ideas reach a successful launch. They will then activate their startups and introduce their products and services to the local market while continuing to evolve and grow within QBIC for two years.
Check out this link to learn more about the QBIC incubated companies.