Doha, February 26 (QNA) - Qatar Research, Development, and Innovation (QRDI) Council launched the Small Business Innovation Grant (SBIG).

The announcement was made amidst a busy schedule at the QRDI Pavilion, which hosted a variety of sessions from entities across different sectors, showcasing Qatar’s innovation-driven initiatives.

This new grant program is designed to support early-stage ventures by accelerating innovation and enhancing research and development (RDI) activities within small and medium-sized enterprises (SMEs).

Nada Al Olaqi, Senior Program Director-Innovation Development and Piloting Programs at QRDI Council said, "This initiative represents an important step in enhancing the SME ecosystem in Qatar. By providing SME’s and startups with the necessary resources and support", she added, "We are working to provide an incubating environment that helps innovation flourish, helping these companies grow and contribute to the sustainable economic development of the State of Qatar, and we look forward to seeing the creative and impactful solutions that this program will offer, reinforcing Qatar's position as a leading global destination in Qatar. Innovation Sector." The "SME and Startup Business Development Grant" aligns with the mission of the Qatar Research, Development, and Innovation Council to drive the innovation agenda and promote economic diversification. It aims to reduce the investment risks associated with the development of technology in SMEs and startups, as well as their entry into the market. The grant also seeks to enhance the readiness of new products and services developed by companies, accelerating technology commercialization. Ultimately, it aims to contribute to the diversification of the economy by generating R&D-based revenue for small and medium-sized businesses. QRDI Council is committed to intensifying R&D and innovation activities within Qatar's business sector, a key element in achieving the country's sustainable economic development goals.

Through tailored funding and incentives, the QRDI Council aims to promote economic diversification and drive the commercialization of technologies in key sectors such as medical and healthcare, logistics and transportation, smart cities, and creativity, arts, and tourism. Therefore, QRDI’s goal is to support small businesses that are actively conducting research, development, and innovation (RDI) with a clear path towards commercialization, helping them scale their solutions and meet global demand.

Those interested in applying for this scholarship can visit the Innolight platform to learn more about the scholarship and the application schedule. (QNA)