The Qatar Business Incubation Centre (QBIC), founded by Qatar Development Bank (QDB) and Social Development Centre (SDC), has recently launched its sixth wave of the LeanStartup Programme (LSP) for aspiring entrepreneurs.
The latest LSP participants are entrepreneurs with startup ideas ranging in a variety of different industries, including marketing, tourism, digital solutions, fashion, and retail. During “LSP 6,” entrepreneurs will work on developing their startup ideas and building prototypes in preparation for “Demo Day” using the “Business Model Canvas” as part of activating startups under the “lean” methodology.
QBIC Tourism, guided by Qatar Tourism Authority (QTA), which was launched in January 2016, continues to offer entrepreneurs with tourism-related business ideas specialised support to develop products and services that enhance the Qatar tourism experience, by providing them with unique business development tools and access to insight and guidance from QTA decision-makers.
Since its establishment, QBIC Tourism witnessed an increase in the number of startup ideas, with 11 tourism startups out of a total of the 29 accepted to take part in the first phase of their entrepreneurial journey in the LSP. Also, QBIC Tourism applications have increased 100% over the past three months.
Qatar Development Bank CEO and QBIC chairman, Abdulaziz bin Nasser al-Khalifa, said: “Startups and small businesses are the foundation of a thriving, diversified economy. This LSP is kicking-off with some of the most diverse range of business ideas so far, which indicates our entrepreneurs’ capabilities and objectivity when it comes to starting a new company. We believe that backing startups and scale-ups now will help produce a mature and sustainable private sector in the near and medium term.”
He added: “One of QBIC’s fundamental values is to be continually strengthening our startup culture in Qatar, not only by providing the support and space that every business needs, but by enhancing our key partnerships with prominent industries, as it is only through unifying our efforts that we can continue to build a stronger knowledge based economy.
The substantial increase of tourism startups in this batch of LSP’s is an excellent example of this principle in action.”
QBIC CEO Aysha al-Mudahka said: “The entrepreneurs have been benefiting greatly from practical assistance, networking, and collaborating with experts and business creatives.
“We’re thrilled for this new batch to launch and begin their journeys. Through expert guidance and a dedicated incubator, these business ideas can reach their full potential and attain great successes.”
Mohamed al-Mahmeed, head of Tourism Investment Promotion at QTA said: “We’re very pleased with the substantial increase in the number of tourism startups in the new wave of LSP 6. Through this partnership with QBIC, we strive to achieve our long-term strategy of promoting Qatar as a world-class tourism destination with deep cultural roots.
“We believe that only with the involvement, perseverance and energy of home-grown talent can we develop tourist experiences that truly reflect Qatar’s heritage. And, from what we see in QBIC-Tourism’s startups, these entrepreneurs will definitely contribute to growing a sustainable tourism sector in Qatar.”
The entrepreneurs will be pitching their refined business ideas to a judging panel and potential investors during “Demo Day,” marking the end of the programme, which will take place on May 23.
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