QBIC Accepting Applications for the LeanStartup Program

Redesigned for its 13th Edition

  
QBIC Accepting Applications for the LeanStartup Program

Doha, Qatar: As part of its ongoing support and empowerment of local startups, Qatar Business Incubation Center (QBIC), a division of Qatar Development Bank (QDB), is now accepting applications for the 13th wave of the center’s redesigned LeanStartup Program (LSP).

QBIC’s LSP is one of the most successful programs of its kind within the MENA region; by leveraging the “lean-startup” methodology the trainers place significant emphasis on ‘customer validation’, which allows entrepreneurs to test their business ideas in real-time with potential customers. The latest edition of the program has been redesigned in order to best fit the needs of entrepreneurs that are in the early stages of product or service development. The LSP program typically attracts hundreds of applicants each wave and has produced over 450 graduates to date.

Notably, entrepreneurs are required to pass through several screening stages before securing a seat in the program. Selected startups are the ones that display the greatest potential for innovation and are the most suitable for the competitive Qatari marketspace. During the ten-week program, entrepreneurs must develop their business ideas and build prototypes (MVPs) in preparation for Selection Day, which is a unique opportunity to pitch their ideas to an esteemed selection committee and – for the first time – potential early-stage investors.

Selected startups receive smart funding, access to investors, office space, continuous coaching, and the opportunity to accelerate their growth.

Commenting on the evolution of LSP, Hamad Al-Qahtani, General Manager of QBIC, said: “After the program witnessed the success of 12 waves, it is now time to redesign it based on the needs of startups, and to enhance their opportunity of connecting with potential investors. I would like to call on Qatar’s aspiring entrepreneurs to join the new wave of LSP, as we are always looking forward to meeting innovative minds with the aim of helping them turn their business ideas into reality and becoming the next Qatari success story.”

He added: “QBIC aims, with the support of QDB, to develop the next generation of successful entrepreneurs, who will support the private sector and contribute to building a prosperous future for a diversified, knowledge-based economy by developing a proactive mindset amongst the youth.”

Promising entrepreneurs in Qatar can apply for the 13th wave of LSP, which will start on the 29th of September 2019, through the website www.qbic.qa or by directly connecting with QBIC through its social media platforms.

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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 Nama. The mission of QBIC, which is fully owned by QDB, 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 the LeanStartup Program, turning innovative ideas into startup businesses. LeanStartup is a 10-week entrepreneurial program that provides real world, hands-on learning experience on how to successfully start a company.

© Press Release 2019

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