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First tech incubator "Digital and Beyond" is powered by Ooredoo
Doha - Qatar Business Incubation Center (QBIC) founded by Qatar Development Bank (QDB) and Social Development Center (SDC) kicked off its fifth wave of the LeanStartup Program on January 18th, 2016, in partnership with Ooredoo.
Building on its past four successful LSP programs, the center has evolved to establish sector-specific incubators, of which the "Digital and Beyond" tech incubator is the latest. With 41 participants from 34 startups taking part in the 7-week entrepreneurial journey, QBIC continues strongly with its mission of developing the next QAR 100 million companies in Qatar.
Leading communications company Ooredoo, will oversee the "Digital and Beyond" incubator, so that participating entrepreneurs can gain access to experts in the tech industry. The LeanStartup Program continues to focus on providing entrepreneurs with real world, hands-on experience and knowledge on how to successfully transform their business idea into a thriving startup, without a business plan. The sessions are run on a bi-weekly basis, and provide entrepreneurs assistance in developing products and services that are needed by their target customers.
This edition of the flagship LeanStartup Program is offered exclusively to tech related startups, and helps business ideas find digital solutions to modern-day technological problems. It included specific workshops on developing the Business Model Canvas, developing a Minimum Viable Product, and a condensed series of sessions on all aspects of starting a business in the digital realm.
Abdulaziz Bin Nasser Al Khalifa, Qatar Development Bank CEO and QBIC Chairman said: "Launching the fifth wave of the LeanStartup Program with our distinguished partner, Ooredoo, is a result of the experience and know-hows that we've have acquired in the digital realm, and the successes we have achieved in helping startups launch and accelerate, and the "Digital and Beyond" incubator is one example of how we're developing tech startup businesses."
He added: "We're confident that a wide range of projects will be successful in addressing the current market gap. This is why we're constantly seeking valuable partnership opportunities with various local entities, as it is only through unifying our efforts that we can continue to build a stronger knowledge based economy."
Some of the potential ideas that could soon turn into prosperous startups include:, financial services, smart living, talent acquisition management, logistics and transport, fashion e-commerce, smart business solutions, health solutions, TV entertainment to name few.
Aysha Al Mudahka QBIC CEO said: "We're very excited that this LeanStartup Program, is led by the distinguished communications company, Ooredoo. As our official partners, we're pleased that this incubator is producing innovative business ideas that will create a buzz in the local market."
She added: "We realized that through utilizing expert coaching and a specialized incubator, simple business ideas can achieve their full potential and reap great successes effectively, and more efficiently. Once again, we're reintroducing our flagship program in a new light to expand our reach and ensure that our services are suitable to all kinds of business ideas, whether they're related to technology, tourism, or other key industries."
Tech-savvy specialized instructor, Rami Al Karmi, is currently conducting the "Digital and Beyond" LSP program, and is heavily experienced in the entrepreneurship field. In the remaining few days, participants will have the opportunity to test their prototypes with potential customers, ahead of the Demo Day, where they will need to pitch their business idea to a panel of judges. participants, Al Karmi also helped LSP participants master the art of pitching and supported them in the development of their Minimum Viable Product.
To date, Al Karmi invested, advised, and served as a board director in more than 100 companies in the MENA region and Silicon Valley.
Yousuf Abdulla Al Kubaisi, Chief Operating Officer, Ooredoo Qatar, said: "We're pleased to partner with QBIC on this important program, which is providing young people with the opportunity to realize their dreams, at the same time as helping to grow Qatar's digital entrepreneurial ecosystem. We've seen some great ideas from the participants in the programme so far, and look forward to working with them on their journey to creating new innovations from within Qatar."
Abdulla Al-Sada, QBIC entrepreneur enrolled in the "Digital and Beyond" LSP program said: "I've joined QBIC to gain knowledge and understanding of how to open a business in Qatar. As entrepreneurs, we're faced with a lot of obstacles and governmental requirements before starting a business, and I hope that QBIC will help me overcome these and achieve success."
Noura Al Jurdi and Mohammed Al Matwi, two partners who founded 'Shnaita', a luxury bag resale digital platform, are now enrolled in the "Digital and Beyond" LSP Program hoping that their experience here will help them take their business to the next level. Al Jurdi and Al Matwi are learning how to develop a business model that works well within Qatar and the region, and are obtaining a deeper understanding of best entrepreneurial approach in the local market.
Mohammed Al Nuaimi, an aspiring entrepreneur also taking part in the Program commented on his experience so far saying: "We are close to completing the LeanStartup Program and have learned some exciting ideas and new takes on starting a business. I'm eager to see how my startup will develop over the remaining days."
Based on customer feedback, entrepreneurs are urged to develop prototypes that act as a reflection of their customers' needs. These will be showcased while pitching their refined business ideas to a judging panel and potential investors during the Demo Day event marking the end of the program, which will take place on March 21st, 2016.
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About QBIC:
Qatar Business Incubation Center (QBIC) is one of the largest specialized mixed-use business incubators in the MENA region. QBIC empowers committed entrepreneurs to start and grow companies by incubating, developing, connecting and investing, and QBIC is dedicated to the long-term success of entrepreneurs.
QBIC is founded by two of the leading entrepreneurship institutes in Qatar: Qatar Development Bank (QDB), and the Social Development Center (SDC). With a mission to develop the next QAR 100 million companies in Qatar, QBIC is working to unify efforts with key entities in Qatar to develop SMEs and enhance the private sector.
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.
Find out more at: www.qbic.qa
About Ooredoo:
Ooredoo is Qatar's leading communications company, delivering mobile, fixed, broadband internet and corporate managed services tailored to the needs of consumers and businesses. As a community-focused company, Ooredoo is guided by its vision of enriching people's lives and its belief that it can stimulate human growth by leveraging communications to help people achieve their full potential.
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© Press Release 2016
