Overview
ELV8 is a brand new 12-month growth accelerator program from QSTP. It serves as a launchpad for the global growth of Qatar’s tech startups, in order for them to expand their business into new international markets, and will be delivered in partnership with Silicon Valley-based Plug and Play.
ELV8 aims to nurture the economic growth of local startups and give them access to mentorship and funding opportunities in order to expand internationally. Two Qatar-based tech startups will be selected to participate in the program. These startups will be incubated in one of Plug and Play’s 30 international accelerators for 12 months. During the first three months in the Plug and Play accelerator, they will receive mentoring focused on supporting each start-ups’ growth, whilst the remaining nine months will focus on increasing their customer base in their chosen international market. These startups will also be supported by QSTP’s Tech Venture Fund, with each receiving investment to drive their growth.
Eligibility
- Qatar-based tech start-ups looking to expand into international markets.
- Eligible startups which already have an existing product or service, and are able to demonstrate recent and significant growth in their customer/user base.
- The program is available to startups that have previously secured funding from investors and are preparing to raise, or have already closed, their Series A round.
- ELV8 participants will be required to maintain some of their business operations in Doha (ex. Product Development, sourcing human capital).
What's in it for you
- Start-ups will gain access to their next growth market, via funds received from QSTP’s Tech Venture Fund (TVF).
- Start-ups will be embedded with other successful start-ups in an international Plug and Play accelerator that is best suited to support their specific industry vertical, with clear growth milestones that lead to a higher rate of success.
- Start-ups will be given access to investors and customers in the international growth market in which they are incubated.
- Start-ups will receive 12 months of coworking space with 3 months enrollment in a Growth Hacking program.
- Growth Hacking techniques are designed to accelerate growth by developing the skills needed for accelerated business, customer base and revenue growth (Sales and Marketing, Scalability – Product and Business Model, Legal, Financials).
Program Partner
ELV8 will be delivered by QSTP in partnership with the globally-renowned Plug and Play, the world’s largest innovation platform, connecting startups, corporations, and investors. Plug and Play is headquartered in Silicon Valley, California and operates in 35 cities worldwide across five continents, including a presence in around the world including presence in the USA, Europe, Asia and Abu Dhabi.
Plug and Play operates in 15 industry verticals including: FinTech, IoT, Supply Chain and others. It has helped accelerate 1450 startups worldwide since 2019, covering a vast network of corporate partners and over the past six years, Plug and Play has invested in over 1000 startups and raised $7B in funding.
Find out more about Plug and Play here: https://www.plugandplaytechcenter.com/programs/
Frequently Asked Questions
01.
What is the ELV8 program?
ELV8 is a brand new 12-month growth accelerator program from QSTP. It serves as a launchpad for the global growth of Qatar’s tech startups, in order for them to expand their business into new international markets. ELV8 aims to nurture the economic growth of local startups and give them access to mentorship and funding opportunities via QSTP’s Tech Venture Fund, in order to expand internationally.
02.
Who is the ELV8 program partner?
ELV8 will be delivered by QSTP in partnership with the globally renowned Plug and Play, the world’s largest early-stage investor, accelerator, and corporate innovation platform, which is headquartered in Silicon Valley, California and has a presence in 30 different cities around the world including: USA, EU, Asia and Abu Dhabi. Plug and Play operates in 15 industry verticals including: FinTech, IoT, Supply Chain and others.
Successful startups will be incubated in one of Plug and Play’s 30 international accelerators for 12 months. During the first three months in the Plug and Play accelerator, they will receive mentoring focused on supporting each startups’ growth, whilst the remaining nine months will focus on increasing their customer base in their chosen international market.
Find out more about Plug and Play here: https://www.plugandplaytechcenter.com/programs/
03.
Why is QSTP launching ELV8?
QSTP is launching ELV8 as the first and only program of its kind in Qatar. It aims to support the next generation of leaders in technology by taking Qatar’s innovations to the international stage, while contributing to the diversification of the country’s economy and enriching the local RDI ecosystem through knowledge exchange and local capacity building. It is a key example of QSTP’s commitment to nurturing local innovation via international partnerships and demonstrates our continued efforts to develop the private sector in Qatar.
04.
Can individual entrepreneurs apply or only established startups?
Individual entrepreneurs are not eligible to apply for ELV8; applicants must be existing startups which already have a commercially available product or service, and are able to demonstrate recent and significant growth in their customer/user base.
05.
Who is eligible to apply?
- Qatar-based tech start-ups looking to expand into international markets.
- Startups which already have an existing product or service and can demonstrate recent and significant growth in their customer/user base.
- Startups that have previously secured funding from investors and are preparing to raise, or have already closed, their Series A round.
- ELV8 participants will be required to maintain some of their business operations in Doha (ex. Product Development, sourcing human capital).
06.
Can non-tech startups apply for ELV8?
No, only tech-based startups are eligible to apply for ELV8.
07.
What is the difference between ELV8 and XLR8 programs?
| XLR8 | ELV8 | |
|---|---|---|
| Open for applications from | Individuals or teams of entrepreneurs and innovators, who have not launched the startup. | Qatar-based tech startups |
| Startup stage | Pre-startup stage. Tech-based idea (not a finished product) with commercial potential. | Existing tech startup required, with demonstrable recent and significant growth. |
| Duration | 4 months | 12 months |
| Location of program | Qatar | International placement (at a Plug and Play accelerator) |
| Funding | Only the top 2 winning teams from the Demo Day will receive funding | Yes, through QSTP Tech Venture Fund |
| Mentorship | Yes | Yes |
08.
What is the selection criteria?
09.
How many startups will be selected to go abroad?
Two startups will be selected for placements abroad at a Plug and Play accelerator.
09.
Will QSTP cover our expenses while our startup is incubated overseas?
QSTP will provide investment for startups to use for the duration of the program via its Tech Venture Fund. This investment is intended to cover expenses and drive startup growth.
How to Apply?
Applications are now closed. Stay tuned for the next round!
Sign up using below form to get notified when new dates are announced. For further questions about the program, please email us at: [email protected]