By Mohammad Shoeb
DOHA: To promote entrepreneurship to achieve industrial diversification, Qatar Business Incubation Center (QBIC) facilitated the graduation of over 100 entrepreneurs since its inception in 2014.
This was announced yesterday by Abdulaziz bin Nasser Al Khalifa, Chairman of QBIC, on the sidelines of a ‘Demo Day’ organised by the QBIC.
“This is our forth programme of startups at QBIC. We at Qatar Development Bank (QDB) and QBIC are working together on a daily basis to support the SMEs. And so far we have graduated over 100 startups. The number speaks itself about our success stories,” said Al Khalifa.
He said: “All the innovative products and services that QBIC have supported so far are going to add great value.”
The QBIC, founded by QDB and Social Development Center, successfully concluded its fourth wave of the ‘LeanStartup Programme’ with entrepreneurs pitching to judges and investors during the event.
The Demo Day marked the end of the 10-week long LeanStartup Programme for 27 entrepreneurs in Qatar with 16 startup business ideas. For a period of two and a half months, the entrepreneurs tested the market viability of their intended product or service by talking to customers, partners and suppliers to validate their ideas. QBIC’s localised LeanStartup methodology uses the Business Model Canvas. This does not require a business plan, and instead uses a Customer Development Process that encourages a hands-on learning experience.
Throughout QBIC’s 4th Demo Day, entrepreneurs were, for the first time, able to pitch to be incubated in a specialised incubator, QBIC Tourism. The incubator was set up to enable entrepreneurs to develop products and services that enhance the Qatar tourism experience. QBIC Tourism, guided by Qatar Tourism Authority (QTA) provides entrepreneurs with the tools they need to turn their business idea into a successful tourism product or service.
Through QBIC Tourism, QTA will provide guidance to entrepreneurs to support them as they introduce creative business ideas to the market that enrich visitor experience across various areas, including: Business Events, Urban and Family Entertainment, Family Recreation and Sports Tourism, and Culture and Heritage Products.
During Demo Day, 27 entrepreneurs with the best-developed prototypes pitched their ideas to QBIC judges and potential investors, who then selected the best 14 pitches to be incubated at QBIC. .
The best startups covered a wide variety of industries. The 14 selected new startups will receive smart financing, coaching and mentoring, office space, and networking opportunities from QBIC.
Aysha Al Mudahka, CEO of QBIC, said: “We are very excited that 16 business ideas made it as far as the Demo Day after 10 weeks in the LeanStartup Programme, and would like to congratulate those who have been incubated and are now officially part of the QBIC family.”
Mohamed Al Mahmeed, head of Tourism Investment Promotion at QTA, added: “We’re pleased to be partnering with QBIC in providing a specialized tourism incubator to our local talents.”
THE PENINSULA
By Mohammad Shoeb
DOHA: To promote entrepreneurship to achieve industrial diversification, Qatar Business Incubation Center (QBIC) facilitated the graduation of over 100 entrepreneurs since its inception in 2014.
This was announced yesterday by Abdulaziz bin Nasser Al Khalifa, Chairman of QBIC, on the sidelines of a ‘Demo Day’ organised by the QBIC.
“This is our forth programme of startups at QBIC. We at Qatar Development Bank (QDB) and QBIC are working together on a daily basis to support the SMEs. And so far we have graduated over 100 startups. The number speaks itself about our success stories,” said Al Khalifa.
He said: “All the innovative products and services that QBIC have supported so far are going to add great value.”
The QBIC, founded by QDB and Social Development Center, successfully concluded its fourth wave of the ‘LeanStartup Programme’ with entrepreneurs pitching to judges and investors during the event.
The Demo Day marked the end of the 10-week long LeanStartup Programme for 27 entrepreneurs in Qatar with 16 startup business ideas. For a period of two and a half months, the entrepreneurs tested the market viability of their intended product or service by talking to customers, partners and suppliers to validate their ideas. QBIC’s localised LeanStartup methodology uses the Business Model Canvas. This does not require a business plan, and instead uses a Customer Development Process that encourages a hands-on learning experience.
Throughout QBIC’s 4th Demo Day, entrepreneurs were, for the first time, able to pitch to be incubated in a specialised incubator, QBIC Tourism. The incubator was set up to enable entrepreneurs to develop products and services that enhance the Qatar tourism experience. QBIC Tourism, guided by Qatar Tourism Authority (QTA) provides entrepreneurs with the tools they need to turn their business idea into a successful tourism product or service.
Through QBIC Tourism, QTA will provide guidance to entrepreneurs to support them as they introduce creative business ideas to the market that enrich visitor experience across various areas, including: Business Events, Urban and Family Entertainment, Family Recreation and Sports Tourism, and Culture and Heritage Products.
During Demo Day, 27 entrepreneurs with the best-developed prototypes pitched their ideas to QBIC judges and potential investors, who then selected the best 14 pitches to be incubated at QBIC. .
The best startups covered a wide variety of industries. The 14 selected new startups will receive smart financing, coaching and mentoring, office space, and networking opportunities from QBIC.
Aysha Al Mudahka, CEO of QBIC, said: “We are very excited that 16 business ideas made it as far as the Demo Day after 10 weeks in the LeanStartup Programme, and would like to congratulate those who have been incubated and are now officially part of the QBIC family.”
Mohamed Al Mahmeed, head of Tourism Investment Promotion at QTA, added: “We’re pleased to be partnering with QBIC in providing a specialized tourism incubator to our local talents.”
THE PENINSULA
