Qatar Foundation RDI opens applications for innovation coupon Challenge 2022

The Innovation Coupon is a grant from Research, Development, and Innovation division that helps individuals and start-ups formulate their ideas.

The Qatar Foundation for Research, Development, and Innovation (QF RDI) is accepting applications for its new 'Innovation Coupon Challenge 2022,' which aims to turn ideas into marketable products. The grant is open to innovators with game-changing ideas to help the country host mega sporting events like the Olympics this year.

Top projects will receive up to QAR200,000 in funding, as well as technical assistance, expert advice, pitch training, and connections to industry experts and investors, bringing their products closer to market.

QF RDI Project lead for innovation coupon, Faiha al Qahtani said that Qatar’s hosting of the first-ever FIFA World Cup™ in the Middle East will shape the future of sports in the country and the region. The event also presents, he said, an unprecedented opportunity for businesses to grow, while the eyes of the world are on Qatar’s booming innovation ecosystem.

"With our IC grant, we want to build on this exciting momentum and invest in creative innovators and entrepreneurs who can solve some of the challenges before, during and after the tournament." 

According to Al Qahtani, they are casting a wide net with individuals, startups and SME from all industries invited to apply. He said that it will be thrilling to see and evaluate the submissions and find both inspiring and forward-looking solutions that can impact lives for the better.

Innovation Coupon is aimed at Qatar-based entrepreneurs, startups or small and medium-sized enterprises (SME) from all sectors and industries that are engaged in the development of technology-rich products and services. The fund is designed to benefit individuals and teams that have the needed capacity and technical knowledge to develop their product or service but require more support to resolve a specific technical or business problem.

Applications for the Innovation Coupon Challenge 2022 will be accepted until 1 April 2022 through one of three tiers, each designed to develop an idea depending on levels of maturation.

Tier 1: Developing Proof-of-Concept is open to individual applicants at the early ideation stage, who want to assess if their idea is viable. It provides funding of up to QAR50,000 and development support for three months.

Individuals, startups and SME looking to understand how to take their ideas to market and start exploring their business plan and value proposition can apply for Tier 2: Idea Design and Development. Development support of six months and funding of up to QAR100,000 is available, but startups and SME will need to have 25% in matching funds ready.

Those who know their business risks, understand their value proposition and have a demo product, are invited to apply to Tier 3: Path to Market. Open to individual applicants, startups and SME, Tier 3 provides funding up to QAR200,000 and development support for a period of nine months. Any startups or SME who are applying under this tier need to have 50% in matching funds ready.