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    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Egypt’s food industries contribute 24.5% of GDP

    Egypt’s food industries contribute 24.5% of GDP

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    $36mln contract for construction of Duqm fisheries complex

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    Ministry signs agreement to support Oman’s honey industry

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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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      Aramco, DHL to build procurement and logistics hub for the energy sector

      Aramco, DHL to build procurement and logistics hub for the energy sector

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      Second runway of Muscat airport to be ready this year

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      UAE-Oman rail network expected to bring about new era of collaboration and growth

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      Saudi Arabia issues 124 licenses to industrial units in different sectors in January

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      Qatar’s economic growth is strong: ICAEW

      Egypt’s food industries contribute 24.5% of GDP

      Egypt’s food industries contribute 24.5% of GDP

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      Saudi Arabia real estate: PIF-backed firm signs largest deal valued at $1.5bn

      Saudi Arabia real estate: PIF-backed firm signs largest deal valued at $1.5bn

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      Construction works of Egypt’s first eco-sustainable industrial complex kick off

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      Oman Construction Equipment Industry to 2028

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      $36mln contract for construction of Duqm fisheries complex

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      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      Madayn working on major Oman industrial city projects

      Madayn working on major Oman industrial city projects

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        Oman signs $20bn hydrogen deals

        Oman signs $20bn hydrogen deals

        Suez Canal expects US$3.5 billion in revenues in H1

        Suez Canal expects US$3.5 billion in revenues in H1

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Investments in renewables in Egypt reach LE6 bn: Official

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        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

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          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

          Qatar’s hospitality sector peaks despite turbulent 2020

          Qatar’s hospitality sector peaks despite turbulent 2020

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

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          Staycations to stimulate Qatar’s hospitality sector

          Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

          Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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        • Agrofood
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          • Agriculture
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          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
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            • Trade
            • Transport & Logistics
            Aramco, DHL to build procurement and logistics hub for the energy sector

            Aramco, DHL to build procurement and logistics hub for the energy sector

            Second runway of Muscat airport to be ready this year

            Second runway of Muscat airport to be ready this year

            UAE-Oman rail network expected to bring about new era of collaboration and growth

            UAE-Oman rail network expected to bring about new era of collaboration and growth

            Saudi Arabia issues 124 licenses to industrial units in different sectors in January

            Saudi Arabia issues 124 licenses to industrial units in different sectors in January

            Qatar’s economic growth is strong: ICAEW

            Qatar’s economic growth is strong: ICAEW

            Egypt’s food industries contribute 24.5% of GDP

            Egypt’s food industries contribute 24.5% of GDP

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
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            • Infrastructure
            • Real Estate
            Saudi Arabia real estate: PIF-backed firm signs largest deal valued at $1.5bn

            Saudi Arabia real estate: PIF-backed firm signs largest deal valued at $1.5bn

            Construction works of Egypt’s first eco-sustainable industrial complex kick off

            Construction works of Egypt’s first eco-sustainable industrial complex kick off

            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

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            • Energy
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              Oman signs $20bn hydrogen deals

              Oman signs $20bn hydrogen deals

              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

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              • Hospitality
                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Start-up culture on the rise in Qatar

              OBG

              June 26, 2016
              in Economy, IT & Telecom
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              With an expanded space and a growing portfolio of programs, the Qatar Science and Technology Park (QSTP) is an established fixture in Qatar’s burgeoning start-up culture.

              Since its inauguration in 2009, QSTP has secured a strong reputation for nurturing new, high-tech businesses, while also supporting research and development (R&D) for more established companies. The park has already attracted resident companies such as Shell, Total, GE, Siemens, SAP, Microsoft and Mitsubishi, among others.

              QSTP is currently undergoing expansion, both in infrastructure and in the take-up and range of entrepreneurial programs. By encouraging new private sector investment in higher value-added enterprises, QSTP’s initiatives dovetail with Qatar’s current economic diversification drive.

              Enter Tech 4
              Currently, the park has four buildings – Tech 1 and Tech 2 – as well as an Innovation Centre and a GE single-user building. Together the structures hold 34 tenants, representing an 83% occupancy rate. Since the start of 2015, four new companies have opened offices at the park, Spain’s Iberdrola as well and three new local start-ups – Modus, Girnaas and Vetosis.

              The two tech buildings are designed for medium and large-sized companies, with spaces available in increments of 500 sq meters. The Innovation Centre, meanwhile, caters to smaller entities, providing a business incubator for start-ups.

              Due to high occupancy rates and sustained demand, expansion is under way with a new building – Tech 4 – scheduled for completion in January 2017.

              “The new Tech 4 building will differ from Tech 1 and Tech 2 in that it is designed to hold heavy machinery and handle high vibrations,” Hamad Mohammed Al Kuwari, managing director at QSTP, told OBG. “It will primarily cater to local and international energy and environmental clients.”

              The Tech 4 building will be 6000 sq meters in size, divided into 12 spaces each designated for one company, with the ground floor made up of workshops and a top floor devoted to office space.

              Additional land has been designated for a Tech 3 building although no development plans are currently underway.

              Incubating start-ups
              The QTSP’s Accelerator Programme, which is designed to facilitate and support lean start-ups, saw a steep increase in applicants from 27 when the program launched last year to 103 applicants during its most recent intake in February this year.

              The Accelerator Programme runs in three-month sessions, taking 15 successful applicants per cohort and offering a $100,000 grant to each team accepted.

              At the end of the three-month period, each team presents a five-minute pitch during “Demo Day”, after which teams may advance to the Incubation Programme, go straight to commercialization or withdraw.

              Launched in the first quarter of this year, the Incubation Programme offers a minimum two-year incubation period for start-ups, along with several key benefits.

              For example, program participants will be able to set up a limited liability company under QSTP for QR5000 ($1370) as well as have access to subsidized office space, financial services and an engagement program designed to integrate new start-ups with existing tenants, according to Al Kuwari.

              The programs are flexible with private sector entities and individuals able to enter at any stage. “There isn’t just one track to follow – entry is based on evaluation of the status of the technology and its readiness,” Al Kuwari told OBG.
               
              Promoting synergy
              In addition to the various programs and incentives offered to start-ups, the park’s tax free zone status is also favorable for established companies looking to benefit from lower costs, while maintaining high-grade infrastructure for facilities.

              In order to leverage the diversity of tenants present at the site, QSTP is keen to encourage collaboration between the start-ups and established companies at the park as well as with the broader community.

              One way in which this is facilitated is via “Business connect”, a one-day, campus-wide meeting of businesses, start-ups and QSTP management to exchange ideas and experiences. The park is also working closely with Qatar University to encourage students to take an interest in entrepreneurship and start-up culture.

              With its current portfolio and strategy, the year ahead will likely see further growth at QSTP, particularly as Qatar looks to technology companies and start-ups to diversify the economy.
              Oxford Business Group
              26 June

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