The Qatar Business Incubation Centre (QBIC), founded by Qatar Development Bank (QDB) and Nama, has announced the winners of its eighth wave of LeanStartup Programme (LSP) at Demo Day.
Thirteen of the original 46 startups that joined LSP 8 pitched to a panel of judges, investors and key partners yesterday at the QBIC campus under the sponsorship of QNB.
Demo Day 8 contained business ideas in the fields of marketing, food and beverage, fashion, sports, industrial, cultural, information and communications technology, trading, health, and education.
Additionally, startup ideas in the field of tourism fell under the QBIC Tourism specialised incubator, guided by the Qatar Tourism Authority, whereas ideas in the area of technology belong to the Digital and Beyond specialised incubator, powered by Ooredoo Qatar.
Throughout the 10-week programme, entrepreneurs worked on developing their ideas and building prototypes in preparation for Demo Day using the Business Model Canvas as part of the “lean” methodology.
Seven startups were incubated at QBIC and would be receiving mentoring services, office space and most importantly financial support to start their businesses, according to a press statement.
This Demo Day was an opportunity for QBIC to introduce new activities and events, including a QBIC Alumni Network and a Mix and Match Networking Session, where aspiring entrepreneurs with business ideas presented them to an audience in hopes of finding a business partner.
Moreover, QBIC continues with its “Investors Pitch” sessions, which provide a platform for aspiring entrepreneurs to pitch their business ideas to a panel of potential investors.
Incubated entrepreneurs from previous waves also had the opportunity to present their accomplishments at Demo Day 8.
Each startup was given 60 seconds to share their success stories with the attendees as well as family and friends.
Moreover, the entrepreneurs were given stands in order to showcase their startups’ products and services outside the main hall.
QDB chief executive and QBIC chairman Abdulaziz bin Nasser al-Khalifa said: “We are capitalising on this opportunity not only to announce the incubatees who successfully completed the eighth wave of our renowned LeanStartup Programme, but also to celebrate and showcase the success of our existing entrepreneurs.”
QBIC chief executive Aysha al-Mudahka noted: “I’m hopeful that a very fruitful year is on the horizon for QBIC, and I can definitely say that we are well on our way to establishing the next QR100mn companies in Qatar.”
Khalid Majed al-Naemi, assistant general manager for Small and Medium Enterprises Banking Group Corporate and Institutional Banking at QNB, added: “Through this sponsorship, our Group aims to empower and support our national entrepreneurs and small and medium enterprise owners.”
Incubated companies are expected to complete a three-month probation period, where they will be setting milestones that ensure the idea fulfils QBIC’s requirements to undergo a successful launch.
They will then activate their startups and introduce their products and services to the local market while continuing to develop within QBIC for two years.
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