(MENAFN- Gulf Times) The Qatar Business Incubation Centre (QBIC) has announced the winners of the seventh LeanStartup Programme in a special edition of ‘Demo Day Festival' yesterday.
Demo Day marks the end of the 10-week LeanStartup Programme, which gives successful entrepreneurs a chance to be supported and incubated at the QBIC. Seven out of 15 startups were incubated.
The event showcased business ideas from competing entrepreneurs in areas such as health, education, sports, e-commerce, tourism, technology, Information Technology, and fashion. The activities included a fair that provided an opportunity for existing startups to exhibit their successful work as well as network with potential investors.
Qatar Development Bank CEO and QBIC chairman Abdulaziz bin Nasser al-Khalifa said, 'We're thrilled to be hosting this special edition of Demo Day at QBIC. Among all the festivities, we not only had the opportunity to announce the new incubatees, but also celebrate and showcase the success of our existing entrepreneurs within the various activities taking place.
'With over 49 startups currently incubated at QBIC, I can safely assert that with the help of our partners and by unifying our efforts, we're playing a central role in developing SMEs in Qatar.
He added, 'QBIC aims to provide specialised incubation services, but more importantly, act as a multifaceted platform that is actively involved in educating entrepreneurs in Qatar by providing them with plenty of learning opportunities such as ‘Speaker Series' sessions, open days, and networking and investment opportunities such as the fair held at our unique edition of Demo Day.
Al-Khalifa also signed a memorandum of understanding with Korean Startup Association chairman Daeho Kim 'to increase cooperation and coordination for relevant activities.
A number of startups from the Korean incubation centre as well as various QBIC peers, presented their business ideas to attract local investors.
QBIC CEO Aysha al-Mudahka said, 'Not only does the event mark the end of our seventh successful LeanStartup Programme, but we also get to celebrate the successes of our incubated startups, new partnerships with esteemed international organisations, and much more to look forward to.
Khalid Majed al-Naemi, AGM SME Banking Group Corporate and Institutional Banking at QNB said, 'Supporting startups has always been a priority for QNB as we understand today's startups can turn into tomorrow's QR100mn companies, offering employment and investment opportunities in a diversified economy.
QBIC also showcased two of its successful startups, Albina Snacks, the first factory in Qatar specialising in the production of fresh and dry roasted nuts with different flavours and assortments, as well as Doha Gold Factory, the first ever local gold manufacturer.
Incubated companies are now expected to complete a three-month probation period where they will be expected to set milestones that ensure the idea fulfils QBIC's requirements to undergo a successful launch. They will then activate their startups and introduce their products or services to the local market.
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