Qatar will continue to support startups: PM

Zawya

24-02-2025

Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani on Sunday inaugurated the Web Summit Qatar 2025, the second edition of the Middle East and North Africa's largest technology event, at the Doha Exhibition and Convention Center.
In a keynote address, the Prime Minister affirmed that Qatar continues to strengthen its position as a global platform for innovation and entrepreneurship while actively implementing regulatory reforms and creating new economic opportunities to empower the private sector.
"Built on the back of our thriving energy sector, we are positioned for a private sector take-off. This launch will include even more transformative partnerships across key sectors, from pioneering fintech solutions to groundbreaking climate technologies."
The PM emphasised that Qatar will continue to reinforce its commitment to supporting startups.
"We plan to renovate our entire economy to make Qatar the top regional destination for startups and create an ecosystem for startups to innovate and thrive. A year ago, we gathered here for the first Web Summit in the MENA region. Today, as we look across the same space, we see something remarkable: a vision realised, ambitions surpassed, and the future unfolding before our eyes. Here in Qatar, we are creating a platform where innovation meets opportunity, and partnerships transform global industries,' the PM said.
"We want to create opportunities for future generations, and this runs deep within our national identity, reflected in many of our domestic and international commitments. Through the catalyst of Web Summit Qatar, we are witnessing a convergence of talent, technology and ambition–not just in Qatar, but throughout the region."
The PM announced that the Qatar Investment Authority has successfully fulfilled its Web Summit Qatar 2024 commitment, establishing a $1 billion fund of funds to support startups and selecting six globally recognised investment firms to deploy capital, foster innovation and empower entrepreneurs locally and globally.
"Each of them will open offices or their regional headquarters in Qatar, so that all of the MENA region can benefit from their expertise and investments. These entities represent distinct and relevant sectors crucial to our ecosystem, from digital health technologies and fintech to clean energy solutions, AI and manufacturing helping us build depth and excellence across our innovation landscape."
From there, the Prime Minister announced the expansion of the Startup Qatar initiative, a one-stop platform providing information, support and opportunities for startups. Since its launch last year, the program has attracted over 2,000 applications from 60 countries worldwide, including the United States, Canada, the United Kingdom, Turkiye, and India.
"We are expanding this home-run project, and we'll support even more startups this year by establishing R&D offices, collaborating with local universities and enhancing the country's AI and machine learning ecosystem." In this regard, HE the Prime Minister highlighted that Qatar's strategic efforts led to significant progress in global rankings, advancing 11 places in the Global Startup Ecosystem Index within just one year--the highest leap among the top 100 business environments in the index.
The PM highlighted that Qatar has been attracting growing interest from leading global companies and investment companies seeking to explore regional opportunities and forge partnerships in the business incubator and accelerator space.
He further underscored Web Summit Qatar's role in positioning the country as a bridge between East and West and as a crucial hub cultivating partnerships and innovations that address global challenges--reaffirming Qatar's dedication to supporting entrepreneurship, empowering startups and enhancing global partnerships to build a tech-driven and prosperous future.
In his address, Paddy Cosgrave, Founder and CEO of Web Summit, commended the GCO Director's efforts in bringing Web Summit to the region.
"It's been the best decision that we've ever made. Before hosting our first Web Summit in Qatar, our ambition for a second year was 7,500 attendees. I'm delighted to say that more than 25,000 attendees are in Doha this week from more than 120 countries around the world. It is beyond anything we could have expected or planned for," said Cosgrave.
He added that in partnership with Crunchbase, Web Summit has gathered investment data, which revealed that 148 companies who attended the inaugural edition have since raised nearly USD 30 billion in investment.
The summit kicked off with panel discussions featuring leading entrepreneurs from around the world, including Alexander Wang, Founder and CEO of Scale AI, and Alexis Ohanian, Co-founder of Reddit and General Partner at Seven Seven Six.
This year's expanded edition welcomes over 25,000 attendees from over 124 countries, more than 1,520 startups, over 600 investors, and more than 380 speakers alongside 180 industry partners. The event has also drawn unprecedented media interest, with representatives from over 600 media outlets.
Web Summit Qatar 2025 will feature panel discussions and workshops exploring advancements in technology and digital market trends.
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