Qatar's QBIC Accepts Applications for 14th Edition of LeanStartup Program

Qatar Business Incubation Centre (QBIC), a division of Qatar Development Bank (QDB) – has announced it is now accepting applications for the 14th edition of its LeanStartup Program (LSP). QBIC’s LSP leverages the "lean-startup" methodology, placing significant emphasis on customer validation, which allows entrepreneurs to test their business ideas in real-time with potential customers.

The 10-week program aims to enable aspiring entrepreneurs to transform a business idea into a startup, while entrepreneurs with an MVP (minimum viable product) get the opportunity to further develop their product or service for the market.

QBIC general manager Hamad Dashin al-Qahtani said, “Now in its 14th edition, the LeanStartup Program follows QBIC’s central mission of growing and accelerating businesses and meet the needs of local entrepreneurs. We look forward to welcoming another cohort of tremendously talented entrepreneurs to guide their journey into the business world and transform their ideas into reality.”

The latest edition of the program will focus on healthtech, e-commerce, businesses leveraging blockchain, and business leveraging AI (Artificial Intelligence). As part of QBIC Digital & Beyond, the cohort can also work on IOT (Internet of Things), 5G solutions, transportation, smart homes, or gaming and entertainment projects.

Entrepreneurs are required to pass through several screening stages before securing a seat in the program. Selected startups display the greatest potential for innovation and are the most suitable for the competitive Qatari marketspace.

Selected startups receive up to QR250,000 (US$68,643) in total investment – equivalent to QR100,000 (US$27,457) in cash and QR150,000 (US$41,186) in incubation services and rent, including a one-year incubation period with option to extend for another year, training, continuous coaching, exposure to investors, and office space. Promising entrepreneurs in Qatar can apply for the 14th edition of LSP, which will start in the last week of September.