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Doha - Qatar Business Incubation Center (QBIC)founded by Qatar Development Bank (QDB) and Social Development Center (SDC) kicked off its third wave of the LeanStartup program on the March 9th, 2015.42 participants from 28 startups enrolled in this 10-week entrepreneurial journey, will continue the Center's mission of developing the next QAR 100 million companies in Qatar.
The LeanStartup program focuses on providing entrepreneurs with real world, hands on experience and knowledge onhow to successfully transform their business idea into a prosperous company. The program runs twice a year,in the Spring and Fall. QBIC differentiates itself from traditional approaches by eliminating the requirement of business plans, and focuses more on a simplified approachby developing products and services that are needed by their target customers.
Aysha Al Mudahka QBIC CEO said:"The last two LeanStartup waves were effective in bridging between ideas and tangible realities, and we've seen several companies take-off and prosper. I am excited to see what new business ideas this wave of participants are bringing."
She added,"I would like to see entrepreneurs constantly seek what they are passionate about, because it is the only way in which they can achieve the results that they want."
In the coming 10 weeks, the aspiring entrepreneurs will learn more about lean methodology and will test their product or service byusing the customer validation technique.
Based on the customer feedback, teams of entrepreneurs are urged to develop a prototype that is both desired by and meets their customers' needs. At the end of the LeanStartup program the teams pitch their startup ideas to judges and potential investors during a Demo Day event.
Actively responding to the feedback from the previous LeanStartup participants, QBIC has now introduced two new courses - Marketing 101 and Milestone Budget Planning. Marketing 101 focuses on choosing the best methods to promote a business at different stages in a business' lifecycle, whereas the Milestone Budget planning course involves budgeting and setting business goals.
Ali Khalil Albader, QBIC entrepreneur, enrolled for the third wave of the LeanStartup program said, "I think QBIC is offering a one-of-a-kind opportunity for Qataris, and I am very excited to be part of this wave. I have many ideas I would like to implement, and I look forward to learning about taking the business concept from zero to a successful level; thus contributing to the economy of my country."
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About QBIC
Qatar Business Incubation Center (QBIC) is the largest mixed-use business incubator in the MENA region. QBIC was founded by two of Qatar's leading government institutions supporting local entrepreneurs: Qatar Development Bank (QDB) and the Social Development Center (SDC). QBIC's goal is to develop the next QAR 100 Million companies in Qatar. QBIC empowers entrepreneurs to start and grow companies by incubating, developing, connecting and investing.
One of QBIC's flagship initiatives is LeanStartup, turning innovative ideas into startup businesses.LeanStartup is a ten-week entrepreneurial program that provides real world, hands-on learning experience on how to successfully start a company.
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© Press Release 2015
