Qatar Business Incubation Centre (QBIC), owned by Qatar Development Bank (QDB), launched the 12th wave of its LeanStartup Programme (LSP) at the QBIC headquarters yesterday.
LSP is the most successful of its kind within the Mena region, attracting hundreds of applications per wave, with over 420 graduates to date. More than 800 thoroughly vetted applications were submitted for the 12th edition of the programme, and 60 startups represented by the most promising entrepreneurs in Qatar were selected to take part in the programme.
The programme focuses on empowering entrepreneurs and providing them with the tools, hands-on experience, and know-how to successfully bring their business ideas to life, which is at the core of QBIC’s mission of developing Qatar’s next QR100mn companies.
QBIC general manager Hamad bin Dashin al-Qahtani said, “I would like to take this opportunity to welcome the new wave of LSP entrepreneurs. QBIC has had an incredible five years helping over 160 startups come to life and the energy this wave radiates is something special; we’re all looking forward to the ideas that’ll be developed over the coming weeks as the next big Qatari success story is quite possibly amongst this cohort.”
He added: “With our efforts and QDB’s guidance in developing Qatar’s next generation of successful entrepreneurs, QBIC has contributed to Qatar’s Entrepreneurship Index Ranking – putting Qatar in first place within the GCC region and 22nd place globally – and we can’t be any more proud.” By leveraging the ‘lean-startup’ methodology during the LSP 12 programme, Qatar’s aspiring startups will work on developing and transforming their ideas into viable startups, with significant emphasis on “customer validation.”
At the end of the 10-week programme, participating entrepreneurs will get a chance to earn incubation (smart funding, office space, coaching) by pitching their refined business ideas to a judging panel during ‘Demo Day’ slated on May 1.
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