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QBIC Funds Eight Startups

Eight Qatari startups secured over QR100,000 each at this year’s Demo Day with the Qatar Business Incubation Center, hosted at the Qatar National Convention Center.

Candidates with 16 business ideas pitched to the panel at the Qatar Business Incubation Center’s (QBIC) Demo Day, half of which secured funding for their innovative business ideas.

Founded by the Qatar Development Bank, and the NGO, Social Development Center, QBIC helps fund and develop Qatari ideas into businesses. They empower national entrepreneurs to start and grow companies by incubating, developing, investing and connecting, according to QIBC CEO, Aysha Al Mudahka on the center’s website. It adds that they are a team of professionals with big aspirations, with a mission to develop the next QR 100 million companies in Qatar.

The young innovators pitched a wide range of business ideas to the local group of investors, some of which were custom perfume lines, an app to book restaurant reservations and a service that allows users to pilot jet planes.

To get funding it takes more than just a idea, presenters had to go put their ideas through several studies and tests before they were deemed qualifying for funding.

The winners were, Lazy Eight, a company that offer customers a chance to maneuver a jet in the company of a trained pilot. Tasaheel, a boat-restaurant, serving authentic Qatari food, which highlights the country’s pearl diving tradition. Arsenal, a 3D architecture firm that helps architects and designers with solidifying their ideas. Techaid, a software/hardware home support company. Practica, makers of a collapsible coffee mug with a built-in heating system. Garcon, a restaurant reservation application. Maren, a program of interactive games and activities aimed at preserving the Arabic language among youth. And SIA, a made-to-order line of oriental and western incense that meet specific customer criteria.

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