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Investment seed & start-up funds as a catalyst for economic development & diversity
Paul FieldTechnology Transfer Manager
Qatar Foundation• Founded in 1995 by His
Highness the Emir Sheikh Hamad bin Khalifa Al-Thani
• Chaired by Her Highness Sheikha Mozah bint Nasser Al-Missned
• An independent, nonprofit organisation committed to the development of Qatar and its people
Qatar Science & Technology Park
• Home for international
technology companies• Incubator of start-up
businesses
Education City
Al Shaqab stud, ‘08
QF Housing
Hotel, ‘10
Commercialcentre, ‘10
Golf course, ‘10
Sports centre, ‘10
QF HQ
Schools• Qatar Academy• Bridge program
• The Learning Centre
Virginia Commonwealth University Qatar
• Graphic, fashion and Interior Design
Weill Cornell Medical College in
Qatar• Medical school
Texas A&M Universityat Qatar
• Engineering (4 streams)
Carnegie Mellon Qatar
• Computer science• Business
Georgetown University in Qatar
• Foreign service
Conventioncentre, ‘10 Sidra Medical and
Research Centre, ’10
• Treatment, teaching and research
Qatar’s R&D Growth• 2.8% of Qatar’s GDP to R&D activity• Education City Universities• SIDRA medical and research endowment
c.US$7bn• QNRF• Overseas attraction to first class organisations’
into region
Emerging Technology Centre• 12,000m2 over 2 levels + podium
• leases from 45m2
• incubation focus• cafes, shops, common facilities
• opens ‘07
Innovation & TechnologyTransfer Centre 1
• 1500m2 x 2 stories x 4 wings• leases of 500 – 6000 m2
• shell office and lab space• opens ‘07
Innovation & TechnologyTransfer Centre 2
• twin of ITTC 1 • opens ‘07
National Data Centre• “Tier 4” data centre
• IT services within and beyond EC• independently managed
• opens ‘09
Phase 1
Site of 120ha, Phase 1 is 35ha•controlled access and circulation
• underground parking• building management
Objectives• Promote applied research, technology
development and commercialisation in Qatar• Grow and diversify Qatar’s economy through
application of technology• Accelerate formation and growth of start-up
technology companies • Create high-value employment and development
opportunities, in particular for Qatar’s university graduates
QSTP Provides• Accommodation, Services, Support
– commercialisation programs• Dedicated facilities and services for R&C• Access to world-class research institutes
EconomicDevelopment
Management
Technology Fina
nce
Corporate Research
Proof of Concept Fund
Research Grand Challenge
New Enterprise Fund
Technology Venture Fund
MentoringEntrepreneurshipWorkforce Development
Qatar IP OfficePatent System & Laws
Investor Readiness Program
Research Networks
Support for commercialisation
Technology Transfer• The process of developing practical (commercial)
applications from the results of scientific research• The formal transfer of rights to use and
commercialise new discoveries and innovations
The funding issue in Qatar• Lack of investment finance to assist in forming &
developing technology related businesses• Financial community looking more favourably on
retail/property enterprise start ups• Will not meet macro economic diversity targets
The American Funding Phases
The Equity ‘Gap’• Harder to raise US$1m than US$100m
• More risk - often pre-revenue• more effort required - mentoring, hands-on role• Often idea through a committed academic• Time to liquidity - exit 5+ years
• Limited Seed/Start up funds in the region (Injazat, UAE)
“The Challenge for Qatar”(challenge for all !)
To ‘bridge’ the ‘gap’ and to provide a sustainable source of finance for
start up businesses
Adopt International Good Practice• Enterprise development funds provided by public
sector vehicle or a mix of public/private sector partners and match funding
• Pump-priming a Middle East VC industry
Private Equity required in MENA• Seed/Start-up funds Purpose is to refine, develop and market test IP,
prototypes or conceptsCharacteristics are non trading, no firm business
modelObjective to verify commercial viability, test route to
market & build management team
Opportunity Pipeline• Internationally university spin outs are an
emerging success story• Exponential growth in R&D leading to
commercial opportunities• Attraction of a growing economy• Opportunities of regional significance - e.g.
medical
UK Case Study• 191 active funds, 26% publicly backed• Over half of funds’ size is less than US$25m• Average investments p.a. 5• 50% specialist, 50% generalist• US$320m raised for university spin out activity in
2006• 35% of spin outs raise external finance• 7% of university spin outs have gone public or
been acquired
U.S. Market• US last 10 yrs US$12.6bn invested at seed stage• Over 5,000 university spin outs since 1980• MIT, Stanford• Organisations which have benefited overseas
include; Apple Federal Express, AOL, Google
[email protected]+974 492 7093