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Qatar Science and Technology Park - Proof of Concept Fund

The step from the laboratory to the marketplace can be the biggest one for potential entrepreneurs. History is littered with stories of great ideas that fail to become a commercial success because of a lack of money at this crucial stage. QSTP’s ‘Proof of Concept’ aims to close that gap, boosting technological innovation in Qatar and accelerating the creation of local start-up companies.

Grants provided by the programme enable the validation of promising technology from Qatar’s research labs. Qatar-based research institutes can use the funds to demonstrate the technical and market feasibility of their innovations.

Manning the controls of the fund is Paul Field, QSTP’s Technology Transfer Manager. “When you look at the major research programmes that are being planned by the universities at Education City, and the fact that QSTP is building a world-class business incubator across the road, they obviously fit very neatly together” explains Paul. “The Proof of Concept Fund will boost both university-based innovation and the rate at which start-up tech companies are created at QSTP.”

With grants from $100,000 to $500,000 recipients can develop and test prototypes, undertake market research and planning, protect and manage intellectual property and prepare a business plan. Grants are distributed over the six to 18 month lifetime of the projects as agreed milestones are achieved.

The Proof of Concept Fund is the latest QSTP initiative to create a knowledge economy in Qatar, and ensures that the fruits of the blossoming research community are translated into business success stories.

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