QBIC now accepting applications for ‘LeanStartup Programme’
As part of its ongoing support and empowerment of local startups, the Qatar Business Incubation Centre (QBIC), a division of Qatar Development Bank (QDB), is now accepting applications for the 13th wave of the centre’s redesigned LeanStartup Programme (LSP).
The LSP is one of the most successful programmes 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 programme 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 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 programme. Selected startups are the ones that display the greatest potential for innovation and are the most suitable for the competitive Qatari marketspace.
During the 10-week programme, 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.
QBIC general manager Hamad al-Qahtani said, “After the programme witnessed 12 successful 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 September 29, through www.qbic.qa or by directly connecting with the QBIC through its social media platforms.