Doha, Qatar: Qatar Science & Technology Park (QSTP), part of Qatar Foundation Research, Development, and Innovation, has awarded its Product Development Fund (PDF) to Waasla, a cloud-based supplier relationship management (SRM) platform designed to enhance supplier performance and relations.

QSTP’s PDF assists and encourages small and medium enterprises (SMEs) and startups – in the priority areas of energy, environment, healthcare, and ICT – to develop innovative products or services that are relevant to the needs of the local market.

The funding agreement was signed by Yosouf Abdulrahman Saleh, Executive Director, QSTP, and Ali Al Marri, founder and CEO, Waasla, in a ceremony at QSTP today.

Waasla’s platform employs Artificial Intelligence (AI) and machine learning to assist businesses in selecting and collaborating with suppliers. The platform covers all aspects of SRM, from initial registration to ongoing performance assessment, offering businesses a complete view of their supplier relations.

Mrs. Aysha Al Hamadi, Director of Product Development and Grant Management Fund, QSTP, said: “We are happy to ink another funding agreement, this time providing support for Waasla, a promising startup that aims to play an essential role in boosting business productivity in Qatar. Through such agreements, we demonstrate our unwavering commitment to the development of the local innovation ecosystem and contribute to the growth of tech startups and innovative technologies."

Since its launch in 2016, QSTP’s PDF has awarded subsidy grants to 18 SMEs, eight of which have successfully graduated from the program with innovative products that range from a smart edutainment app, ‘Haya’, by Al-Doha Link LLC, to an autonomous delivery vehicle, ‘Droid’, by Airlift QSTP LLC; and an ‘Automated Customer Profiling Platform’, by iHorizons WLL.

Ali Al Marri, founder and CEO, Waasla, said “We are excited to secure QSTP’s financial support. Equally important, we look forward to receiving the support of QSTP’s team of mentors, which will be instrumental in the development and marketing of our product in Qatar and the region.”

To be eligible for the PDF, at least 20 percent of the private sector SME should be owned by a Qatari individual, and the SME should have up to 249 employees. Qatar-based SMEs that are successful in securing PDF support may be awarded funds of up to 50 percent of the cost of the product or service proposal. Currently, five new projects are under evaluation by QSTP’s team of industry managers, and QF’s research, development, and innovation experts.

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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, 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 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, healthcare, and agribusiness, 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 

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