Qatar Science & Technology Park (QSTP) is moving closer towards its goal of becoming one of the world’s most attractive locations for start-up technology companies.

Two new funds, the $30 million New Enterprise Fund and $100 million Technology Venture Fund, will respectively invest in early-stage and mid-stage technology enterprises locating in Qatar.  They will be managed by a consortium of Oxford Capital Partners, a UK-based venture capital firm focused on emerging science and technology, Qatar National Bank and The Ansbacher Group, a subsidiary of QNB, which provides tailored financial solutions to high networth and institutional clients worldwide.
“The vision is for Qatar’s knowledge economy to operate on a global scale, so it was important for the fund managers we chose to have international reach as well as local knowledge” said Dr. Eulian Roberts, chief executive of QSTP.  “Oxford Capital, QNB and Ansbacher each bring a unique and valuable contribution to the partnership.  Their depth of experience provides the right ingredients for the funds’ success.”
The funds provide capital to commercialise technologies developed in Qatar and overseas.  The New Enterprise Fund moves technology from the lab bench to the marketplace by supplying the founding capital for new businesses.  The Technology Venture Fund invests in growth-stage technology companies, helping them to scale-up production and expand their technology pipeline.  The funds dovetail with the Proof of Concept Fund launched by QSTP in early September and which offers grants to Qatar-based researchers to evaluate and develop their innovations.
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 programme 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.
 Qatar Science & Technology Park is also building a business incubator to provide the physical location for the start-up companies, and training programmes to bolster their management skills.
Nine companies have signed up as member companies of QSTP. These are ExxonMobil, EADS, Gartner Lee, GE, Microsoft’ Q-Cert, Rolls Royce, Shell and Total.
QSTP will be Q-Cert’s permanent home for its centre of excellence in information technology
Q-Cert is the Qatari national computer security team, working with partners throughout the nation and the Gulf region to establish strong standards and practices for computer and network security, and to build a community of experts that addresses the risks associated with computer use, such as viruses, identity theft and computer fraud.
The company was founded by ictQatar, the nation’s IT and communications authority, in partnership with the Cert programme at the Software Engineering Institute of Carnegie Mellon University.