Press Release

QSTP Grants to Boost Technological Innovation in Qatar

Local and international researchers to benefit from commercialisation support

Doha, 4 September 2006 - Qatar Science & Technology Park today announced a new grant program that will help researchers to move their innovations from the laboratory to the marketplace.  The QSTP Proof of Concept Fund provides up to QR 1,825,000 ($500,000) for universities, government agencies and small companies to develop and trial their nascent technologies.

Qatar is rapidly building a thriving research community spanning the public sector and private industry.  These efforts are leading to technological breakthroughs in areas such as healthcare, hydrocarbons and the environment.  The QSTP Proof of Concept Fund ensures that Qatar gains full advantage from its investment in research by helping it to be commercialised locally.

The program provides grants of between QR 365,000 and QR 1,825,000 for up to six projects a year.  Applicants can be academic institutes, public-sector institutes and small-to-medium companies that are located in Qatar, or willing to undertake the project in Qatar.  Grants can be used to build prototypes, conduct market research, and protect intellectual property.

The fund is managed by Paul Field, QSTP's Technology Transfer Manager.  Field said "When you look at the impressive research institutes that are being established in Qatar, and the fact that Qatar Science & Technology Park's business incubator is opening within a year, it makes enormous sense to start transforming that research into new business.  Our experience is that there are only a handful of places in the world where there is genuine support for commercialising early-stage technologies, and the Proof of Concept Fund means that Doha will be one of them".

Key targets for the QSTP Proof of Concept Fund are science universities in Qatar such as Carnegie Mellon, Qatar University, Texas A&M and Weill Cornell Medical College.

Dr. Chuck Thorpe, Dean of Carnegie Mellon University in Qatar, said "We're very interested in the whole lifecycle of ideas, from basic research to new companies and technologies.  We are very pleased that the Proof of Concept Fund is being introduced by the science park, because so often the toughest stage in innovation is the first step when you think you've got a winning technology but you need to convince potential investors - and yourself".

Qatar Science & Technology Park will also launch a start-up fund and a venture-capital fund before the end of the year.

Ben Figgis
Qatar Science & Technology Park
bfiggis@qstp.org.qa
Tel: +974 492 7130