QBIC and QDB officials with the winners during the Demo Day festival yesterday.
Qatar Business Incubation Center (QBIC) announced its seventh wave of LeanStartup winners, in a celebratory, special edition Demo Day Festival. 15 startups pitched to a panel of judges, investors and key partners yesterday at the QBIC Campus under the sponsorship of QNB.
Demo Day marks the end of the 10-week LeanStartup Program, giving successful entrepreneurs a chance to be further supported and incubated at QBIC. 7 startups out of 15 were incubated.
The festive event witnessed business ideas varying from health and education, to sports, e-commerce, tourism, technology, IT and fashion, from competing entrepreneurs.
Qatar Development Bank CEO and QBIC Chairman Abdulaziz Bin Nasser Al Khalifa commented on this occasion saying: “We’re thrilled to be hosting this special edition of Demo Day today at QBIC. Amongst all the festivities, we not only had the opportunity to announce the new incubatees, but also to celebrate and showcase the success of our existing entrepreneurs within the various activities taking place. With over 49 startups currently incubated at QBIC, I can safely assert that with the help of our partners and by unifying our efforts, we’re playing a central role in developing SMEs in Qatar.”
The festival comprised a number of celebratory activities including a fair that provided an opportunity for existing startups to exhibit their successful work and network with potential investors.
Al Khalifa added: “Here at QBIC, we aim to provide specialized incubation services, but more importantly act as a multifaceted platform that is actively involved in educating entrepreneurs in Qatar by providing them with plenty of learning opportunities such as Speaker Series sessions, open days and networking and investment opportunities such as the fair held at our unique edition of Demo Day.”
A mutually beneficial MoU signing between QBIC Chairman Abdulaziz Bin Nasser Al Khalifa and the Korean Startup Association’s Chairman Mr. Daeho Kim took place with an agreement to set forth their mutual intention to increase cooperation and coordination of relevant activities. A number of startups from the Korean incubation center presented their business ideas in hopes of attracting local investors in an investor’s pitch segment, which took place separately, alongside the main event.These were accompanied by various QBIC startups, also hoping to receive additional investment opportunities.
Aysha Al Mudahka, QBIC CEO said: “We have plenty to celebrate today here at QBIC; not only does it mark the end of our 7th successful Leanstartup program, but we also get to celebrate the successes of our incubated startups, new partnerships with esteemed international organizations and much more to look forward to.”
Khalid Majed Al Naemi,AGM SME Banking Group Corporate and Institutional Banking at QNB said:“Supporting startups has always been a priority for QNB, as we understand today’s startups can turn into tomorrow’s QR100 million companies, offering employment and investment opportunities in a diversified economy. Working together with QBIC, we are positive that entrepreneurs will be successful.”
QBIC proudly launched and offered the festival attendees a tour of two of their successful startups, Albina Snacks, the first factory in Qatar specialized in the production of Fresh and Dry roasted nuts with different flavors and assortments, as well as Doha Gold Factory, the first ever local gold manufacturers.
Incubated companies are now expected to complete a three-month probation period, where they will be expected to set milestones that ensure the idea fulfils QBIC’s requirements to undergo a successful launch. They will then activate their startups and introduce their products or services to the local market.
