Doha, Qatar: Qatar Science & Technology Park (QSTP), a member of Qatar Foundation (QF), has announced that applications for cycle 7 of its Product Development Fund (PDF) program are now open and will remain so until the end of April 2023.

Qatar-based tech startups and Small and Medium Enterprises (SMEs) keen to develop products or services addressing local market needs are encouraged to apply to the program that provides up to 50 percent of the total budget as a grant for the proposed project, equivalent to a total funding value of up to QAR 1.2 million.

QSTP considers funding to be a critical component for business growth. The benefits of PDF spread across various essential aspects of business development as awardees can access world-class working spaces, partake in mentoring and networking opportunities, and tap into QSTP’s wider ecosystem.

To be eligible for the program, applicants must be a startup or SME operating in the private sector with at least 20 percent Qatari ownership who must be active members in the development process and aware of the core business of the proposed project, working on tech-based solutions to meet national priorities, and building their technologies around one of QSTP’s priority sectors such as energy, environment, healthcare, or ICT. Applicants must also demonstrate a willingness to enhance their existing products or services in order to stand out amongst competitors.

Applications are evaluated for business opportunity and viability as well as the commitment of the prospective awardees. In addition to factors such as market research, pre-orders, and launch plan, the expected revenue and prospects for job creation that the project holds are taken into consideration.  

The program follows a repetitive and interactive selection process wherein a dedicated committee, composed of industry managers from the PDF team and QF’s R&D experts, reviews the submissions and offers feedback to applicants to refine their applications. The committee will approve, reject, or ask for further improvement of applications at the end of each iteration.

Since its launch in 2016, QSTP’s flagship PDF program has been on a mission to advance technological innovation and enrich the local entrepreneurship ecosystem. Under its ambition to promote the creation of new high-tech products and services and support the commercialization of market-ready technologies, the program has enabled the growth of at least 38 tech-based startups through its subsidy grants.

To read more and apply for PDF, visit https://qstp.org.qa/product-development-fund/

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Qatar Science & Technology Park

Qatar Science & Technology Park (QSTP), part of Qatar Foundation, is a Free Zone, accelerator and incubator for tech-product development in Qatar. The park fosters an innovation and entrepreneurship ecosystem in Qatar that works to accelerate commercialization of market-ready technologies to realize Qatar’s national diversification drive.

QSTP’s focus ranges across four overarching themes, comprising Energy, Environment, Health Sciences and Information & Communication Technologies (ICT), in line with the Qatar National Research Strategy announced in 2012.

Located in Qatar Foundation's Education City, QSTP has access to the vital resources of a cluster of leading research universities. Members of QSTP’s Free Zone include Small and Medium-sized Enterprises (SMEs), international corporations and research institutions. They are collectively committed to investing in new technology development programs, creating intellectual property, enhancing technology management skills and developing innovative new products.

QSTP supports QF’s economic and human development objectives for Qatar and is increasingly recognized as an international hub for applied research, innovation, incubation, and entrepreneurship.

For more information, please visit the QSTP website at www.qstp.org.qa  

Qatar Foundation – Unlocking Human Potential

Qatar Foundation for Education, Science and Community Development (QF) is a non-profit organization that supports Qatar on its journey to becoming a diversified and sustainable economy. QF strives to serve the people of Qatar and beyond by providing specialized programs across its innovation-focused ecosystem of education, research and development, and community development.

QF was founded in 1995 by His Highness Sheikh Hamad bin Khalifa Al Thani, the Father Amir, and Her Highness Sheikha Moza bint Nasser, who shared the vision to provide Qatar with quality education. Today, QF’s world-class education system offers lifelong learning opportunities to community members as young as six months through to doctoral level, enabling graduates to thrive in a global environment and contribute to the nation’s development.

QF is also creating a multidisciplinary innovation hub in Qatar, where homegrown researchers are working to address local and global challenges. By promoting a culture of lifelong learning and fostering social engagement through programs that embody Qatari culture, QF is committed to empowering the local community and contributing to a better world for all.

For a complete list of QF’s initiatives and projects, please visit: www.qf.org.qa 

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For any media inquiries, please contact: pressoffice@qf.org.qa