Applications Now Open: QSTP's new ELV8 program champions Qatar's Tech startups to expand internationally

Doha: Qatar Science & Technology Park (QSTP) – part of Qatar Foundation Research, Development and Innovation (QF RDI) – announced the launch of ELV8 today. It is an exciting new business accelerator program that aims to help Qatar-based tech startups expand into international markets. Applications for the program will be open from 19 September to 16 October 2021.

The first and only program of its kind in Qatar, ELV8 will be delivered by QSTP in partnership with the globally-renowned Plug and Play, the world's largest innovation platform, connecting startups, corporations, and investors, which is headquartered in Silicon Valley, California.

ELV8 is designed for registered tech-based startups that are located in Qatar that have an existing product or service. Applicants will have demonstrated significant growth in their customer/user base and have a defined strategy for moving into international markets with clear potential to scale globally. The program is available to startups that have previously secured funding from investors and are preparing to raise, or have already closed, their Series A round.

After a thorough screening of all applications, a total of 10 startups will be shortlisted for the program. QSTP will conduct a comprehensive evaluation process to assess the business strategy and growth potential of these shortlisted startups. Two startups will then be selected for incubation at a Plug and Play location in one of the 35 cities worldwide across five continents. The exact venue for each placement will be determined by the vertical industry in which the individual startup operates and the specialty of each Plug and Play office.

QSTP’s Tech Venture Fund (TVF) will invest in the two chosen startups, with each one receiving investment to support their expansion abroad. A group of team members will relocate, with the business maintaining its HQ in Qatar. The first three months of the program will be dedicated to mentoring the startups for international business growth whilst the remaining nine months will focus on taking their offering to international markets and increasing their customer base.

Beginning 31 October 2021, ELV8 will be a year-long program which will further strengthens QSTP’s comprehensive value chain of innovation and entrepreneurship-based activities. A natural progression of existing QSTP initiatives such as the highly successful XLR8 program, ELV8 provides intensive mentoring and business support for existing tech-based startups – including those that are already incubated by or work with QSTP. Participating businesses will rapidly grow and establish themselves in international markets via an overseas placement, as well as a range of networking opportunities with international startups and investors.

Announcing the new program, QSTP Executive Director, Yosouf Al-Salehi, said: “ELV8 is another strong addition to QSTP’s impressive portfolio and continues to strengthen its position as the go-to place for Qatar-based startups who want to make an impact in the competitive world of technology development and innovation. I highly encourage tech entrepreneurs in Qatar to apply and take advantage of this unique opportunity. As the next generation of leaders in technology, they will be playing a pivotal role in taking Qatar’s innovation to the international stage, while contributing robustly to the diversification of the country’s economy and enriching the local RDI ecosystem through knowledge exchange and local capacity building.”

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Qatar Science & Technology Park

Qatar Science & Technology Park (QSTP), part of Qatar Foundation Research, Development and Innovation (QF RDI), is a Free Zone, accelerator and incubator for tech-product development in Qatar. The Park fosters an innovation and entrepreneurship ecosystem in Qatar that works to accelerate commercialization of market-ready technologies to realize Qatar’s national diversification drive.

QSTP’s focus ranges across four overarching themes, comprising Energy, Environment, Health Sciences and Information & Communication Technologies (ICT), in line with the Qatar National Research Strategy announced in 2012.

Located in Qatar Foundation's Education City, QSTP has access to the vital resources of a cluster of leading research universities. Members of QSTP’s Free Zone include Small and Medium-sized Enterprises (SMEs), international corporations and research institutions. They are collectively committed to investing in new technology development programs, creating intellectual property, enhancing technology management skills and developing innovative new products.

QSTP supports QF RDI’s economic and human development objectives for Qatar and is increasingly recognized as an international hub for applied research, innovation, incubation, and entrepreneurship.

For more information, please visit the QSTP website at www.qstp.org.qa 

Qatar Foundation Research, Development and Innovation (QF RDI)

The Qatar Foundation Research, Development and Innovation (QF RDI) division’s role is to play an integral part in identifying and addressing challenges and opportunities across ICT, energy, environment and healthcare, in alignment with Qatar’s national RDI strategy and priorities. QF RDI is at the forefront of Qatar’s innovation and entrepreneurship ecosystem, accelerating economic development through supporting the commercialization of market-ready technologies and facilitating the creation of new high-tech products and services.

QF RDI is responsible for translating Qatar’s national RDI strategy into specific initiatives and actions for Qatar Foundation’s (QF) RDI entities. It also directs their efforts in relation to economic value creation, knowledge transfer and the establishment of mutually beneficial national and international RDI partnerships. To ensure these efforts deliver maximum impact, the QF Vice President for Research, Development and Innovation plans, coordinates and oversees all RDI-related activities across QF.

Qatar Foundation – Unlocking Human Potential

Qatar Foundation for Education, Science and Community Development (QF) is a non-profit organization that supports Qatar on its journey to becoming a diversified and sustainable economy. QF strives to serve the people of Qatar and beyond by providing specialized programs across its innovation-focused ecosystem of education, research and development and community development.

QF was founded in 1995 by His Highness Sheikh Hamad bin Khalifa Al Thani, the Father Amir, and Her Highness Sheikha Moza bint Nasser, who shared the vision to provide Qatar with quality education. Today, QF’s world-class education system offers lifelong learning opportunities to community members as young as six months through to doctoral level, enabling graduates to thrive in a global environment and contribute to the nation’s development.

QF is also creating a multidisciplinary innovation hub in Qatar, where homegrown researchers are working to address local and global challenges. By promoting a culture of lifelong learning and fostering social engagement through programs that embody Qatari culture, QF is committed to empowering the local community and contributing to a better world for all.

For a complete list of QF’s initiatives and projects, please visit: www.qf.org.qa 

For any media inquiries, please contact: pressoffice@qf.org.qa 

© Press Release 2021