Product Development Fund
What is it?
QSTP aims to strengthen the private sector and contribute to the diversification of Qatar’s economy by funding SMEs and Startups that develop products and services relevant to the local market needs.
Selected companies will have access to funding of up to $500K / QAR 1.8M.
What’s in it for you?
- Funding of up to 50% of the cost of your product or service proposal
- Total funding value/project is up to $500K / QAR 1.8M
What are we looking for? Local private sector SMEs, with at least 20% Qatari shareholder (individual or organisation) (An SME is up to 249 employees and not listed on the stock exchange)
- You have to be a private sector SME, spin-out or startup
- You are engaged in development of new products/services or processes
- You are willing to accelerate development of existing products
- You focus on one of our priority industries:
Criteria for selection and selection committee
Intellectual Property (IP): QF will not assume ownership of new IP before, during or after (unless existing QF IP is involved in the project). New IP is always owned by the Awardee only (unless existing QF IP is involved in the project). At application time, Applicant company must confirm it owns or has already licensed any IP essential to carry out the project.
How to Apply:
The application process to the Product Development Form is simple and iterative. At each phase you will be supported by the Product Development team which is here to help you maximising your chances to submit a successful application.
The process could be detailed as follows:
- From this page, download the PDF Information and Application Pack that includes all the needed information, the application forms and other templates
- Use the provided templates to write your draft application and submit it as a Word document (.docx) to the Product Development Fund team (email@example.com). Also include the other needed documents (budget, market research, etc). Please do not submit .pdf format files but .docx files only (except for the registration certificate that can be submitted as a .pdf file)
- The Product Development team team will read and comment your draft in “redline mode” and will send it back to you including suggestions to improve your application
- Steps 2 and 3 can be repeated as many times as needed for your application to be strong enough to be officially submitted
- You submit the final version as an official application (that will be reviewed and assessed by the Product Development Fund Evaluation Committee)
If you would like to speak to someone from the PDF team, drop us a line at firstname.lastname@example.org
To download our information and application pack, click here.