Qatar Business Incubation Center (QBIC), a Qatar Development Bank (QDB) incubator and one of the largest business incubators in the MENA region, concluded the 16th wave of the Lean Startup Program (LSP), and graduated the participants of the 4th wave of the Lean Coach Program (LCP), with a Selection Day event that featured the top-performing venture; Selection Day is considered a culmination of the efforts dedicated by emerging local startups & entrepreneurs, aiming to benefit from QBIC’s incubation support. The number of applicants for this year's LSP amounted to 374, of which 65 startups qualified for the program. Out of these, 15 startups made it to the Selection Day, and pitched their innovative business ideas. The selection process came to an end with 11 of this wave’s startups being chosen for incubation at QBIC. Two of the selected startups emerged from Ooredoo’s Digital & Beyond Incubator, which is operated by QBIC. This year, the participating cohort showed tremendous potential, even before the program started; over half of the participants had a minimum viable product (MVP), or a defined business model. The wave also included 11 winners from the most recent QBIC Hackathon, some of which made it all the way to Selection Day. The startups in this wave operated in various fields, namely EduTech, e-commerce, software-as-a-service (SaaS), enterprise-to-enterprise project solutions, and SportsTech. As for the LCP, the number of applicants amounted to 307, of which 21 were accepted. This wave graduated 12 certified coaches, ready to provide support that caters to budding entrepreneurs and their growth needs. During Selection Day, the companies chosen by the committee received an investment of QAR 250,000, in addition to the benefits of one-year incubation with QBIC, including: mentorship and training, office space, access to the various programs, funding, and networking opportunities, while the coaches who successfully completed the LCP obtained QBIC-accredited certificates. Executive Director of Advisory and Incubation at QDB, Mr. Ibrahim Abdulaziz Al Mannai said: “We are very proud of the business ideas brought forth by this wave’s entrepreneurs, who have shown remarkable commitment. The support we provide at QBIC to entrepreneurs and their startup ventures does not stop here; it rather continues through several incubation programs and support services throughout different stages of their journey, helping us contribute further to the diversification of the local economy." QBIC supports entrepreneurship in Qatar through several programs that cater to all growth stages of a company. It also provides a number of specialized programs to promote economic diversification, through various partnerships, such as the partnership with Ooredoo in Digital & Beyond, which seeks to boost the number of tech-focused startups in Qatar. Moreover, the specialized programs include the QBIC Hackathon, which supports and provides solutions for digital transformation, manufacturing industries, and sports technology, to name a few. Additionally, QBIC offers a range of specialized lean programs for entrepreneurs to start and grow their businesses. -- About QBIC: Qatar Business Incubation Center (QBIC) is one of the largest specialised mixed-use business incubators in the Middle East and North Africa (MENA) region. QBIC empowers committed entrepreneurs to start and grow companies by incubating, developing, connecting and investing, and QBIC is dedicated to the long-term success of entrepreneurs. QBIC was founded by two of the leading entrepreneurship institutes in Qatar: Qatar Development Bank (QDB), and Nama. With a mission to develop the next wave of pioneering startups and entrepreneurs in Qatar. QBIC’s flagship initiatives are based on the proven Lean Methodology framework, which helps transform innovative ideas into startup businesses. This is delivered through a variety of programs, namely the Lean Startup Program, an entrepreneurial programme that provides a real world, hands-on learning experience on how to successfully start a company. In addition to this, QBIC offers the Lean Acceleration Program, designed for high-potential businesses to increase their investment readiness. QBIC also offers several specialized programs catering to specific growth domains, such as Lean Manufacturing Program and Lean Coach Program. About Qatar Development Bank (QDB) Qatar Development Bank (QDB), previously known as Qatar Industrial Development Bank, was established in Qatar in 1997 by Emiri Decree No. 14 as a developmental organization with the primary objective of fueling industrial growth and driving the private sector’s economic diversification. Over two decades of transformation, QDB has reinvented itself to become the main supporting arm for Qatar’s private sector and a powerful catalyst for socio-economic development through three access-based pillars to SME and private-enterprise support: Access to Finance, Access to Markets, and Access to Capability. The Bank’s whole-journey support system covers various financing schemes and consultation services that include marketing, legal advice, booking, mentoring and development, grants and accreditation, and capacity-building platforms. This has allowed QDB to become the SME’s growth partner from ideation to fruition, meeting their aspirations at every stage in order to compete at the national and global levels, while improving the economic development cycle and bringing the country closer to realizing its national vision for 2030. Today, the Bank and its subsidiaries are building on Qatar’s rich legacy of socio-economic achievements by taking a brave leap into the future and focusing on the digital transformation of the country’s SME and business ecosystems to usher entrepreneurs and SMEs into the new economy, embrace emerging opportunities, and steadily transform QDB into a digital bank of the future and a lighthouse that leads the way for financial and developmental institutions across the region and beyond. For more information, please visit