Qatar Development Bank’s (QDB) seed funding program, Ithmar, provides entrepreneurs with equity capital to help them start their business. Ithmar is a Shari’a compliant equity program that aims to support the economic diversification in Qatar and develop private sector business opportunities for Qataris.
Financing is offered on up to 90% of the project with a maximum ticket limit of QAR 900,000. The funding will be provided through a convertible Musharaka contract that can later be converted into shares. The trigger for conversion is at the completion of the 2-year mark (with a valuation cap) or at the next qualifying funding round.
The program applies to businesses in all sectors, with a focus on innovative sustainable and scalable businesses, and applies to Qatari individuals or teams with active Qatari members who are above 18 years old. For more information, please see the program homepage.