Posted on February 05, 2015

The Qatar Business Incubation Center (QBIC) founded by Qatar Development Bank (QDB) and Social Development Center (SDC),will launch its 3rdwave of the 10-week unique Lean Startup Program for entrepreneurs in Qatar on March 9th 2015. Applications are open for candidates until 22nd February 2015. QBIC’s Lean Startup Program provides entrepreneurs with a real hands-on learning experience of how to successfully start a company. Running twice a year in Spring and Autumn, the Program is based on QBIC’s flagship Lean methodology. 

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While traditional textbook approaches require entrepreneurs to submit a business plan and feasibility study, QBIC by contrast focuses entirely on customer development and producing a prototype. This approach significantly reduces the cost of product development and increases the probability of successfully starting a business. QBIC’s Lean Startup Program has achieved notable success twice before, and aims to produce yet another generation of successful entrepreneurs in Qatar. Out of 54 enrolled startups in the previous 2 programs, 19 are successfully running their businesses and generating QAR 2 million in revenues in less than a year, highlighting the impact of the Program.

Over a span of 10 weeks in wave 3, participants will be provided action-oriented teaching and coaching sessions on how to successfully start their businesses. They will go through unique exercises and local Qatari business cases that QBIC developed for the first time in Qatar. At the end of the Program, entrepreneurs will have their business ideas validated with customers, developed a prototype that customers need, and finish by pitching their new startup businesses to judges and potential investors.

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“Being a part of the Lean Startup Program was an eye-opening experience to me, it changed my life and the way I think about business; even the way I look at my startup has changed.” – says QBIC entrepreneur Abdulhameed Alyousef, co-founder of RINFO startup, that will be officially launched next week. QBIC entrepreneur, Noora Bu-Helaiqa said: “The best part about the Lean Startup Program is that it enables us to turn our ideas into reality without having a business plan, which is extremely motivating because we see tangible results in a matter of weeks.”

Mohammed Al Jefairi, QBIC entrepreneur, said: “Through the Lean Startup Program I was able to significantly increase revenues. Last month alone we generated more revenues than the whole last year by actively listening to customers. It sounds simple, but it’s not. It was a great learning experience for me.”

Applications are open until 22nd February 2015 through QBIC website www.qbic.qa

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