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Qatar unveiled its startup investment program at the recent Web Summit through its development depository financial institution . The programme target to draw come and ontogeny - microscope stage technical school companies attempt to establish or expand operations within the country . TechCrunch has learned that the programme , hump as the “ Startup Qatar Investment Program , ” is backed by a Qatar Development Bank ( QDB)-managed $ 100 million fund .
In a statement , QDB expose that the program will offer support of up to $ 500,000 for early - stagecoach startups look to found a presence in Qatar , and up to $ 5 million for increment - stage companies seeking to expand their operations in the Middle Eastern country . to boot , the exploitation bank highlighted that apart from financial support , it will provide portfolio startup access to markets and expertness . As say on itswebsite , the plan direct startups in over 15 sector , admit fintech , clean technical school , agritech , B2B SaaS , health technical school , marketplace , proptech , AI & ML and robotics .
“ QDB is heighten its efforts to position Qatar as a major hub for startup across various industries , particularly the technical school sphere due to its strategic importance , ” said QDB CEO Mr. Abdulrahman Hesham Al Sowaidi . “ Through these effort , we aim to attract and keep on talents in various fields to suffer our entrepreneurship ecosystem , surrogate instauration and accelerate technology adoption across all domains in a bid to contribute to a sustainable and business - well-disposed thriftiness , ” Al Sowaidi said .
Qatar ’s startup political platform aligns with model employed by venture house like U.S.-basedAlpha Wave Global , which cope a $ 300 million former - point investment trust ( Alpha Wave Incubation ) anchored by ADQ , one of Abu Dhabi ’s independent wealthiness monetary resource . Across the Gulf Cooperation Council ( GCC ) , standardised speculation cash in hand stipulate that startups from outside the region establish a “ second ” headquarters or function in their areas ( which serve as stem for expanding operations across MENA and GCC ) in return for support and additional business advantages .
Qatar plots a $ 1B pipeline to VCs
Like most venture ecosystem , several of these requirements are mandate by limited partners , primarily independent wealth funds , in the Gulf upon these speculation cap business firm . Just last week , Qatar ’s supreme wealth fund unveiled a$1 billion venture capital investment company of fundsdedicated to international and regional speculation capital funds .
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For Qatar , launching its fund of funds and inauguration program signifies a of the essence footmark toward developing its tech ecosystem to touch its neighbors , Saudi Arabia and the UAE . The urgency is evident , as information from emerge markets data trackerMagnittreveals that Qatar represented only 6 % of deals across the MENA region last year , with venture capital investment funds in its startups amounting to a mere 43 million Katari riyal ( ~$11 million ) in 2023 . In contrast , Saudi Arabia accounts for 52 % of the area ’s deals , while the UAE dominates in terms of deal bulk .
With that said , more competition contribute to the part ’s vantage . Last year , the MENA realm experience a 23 % decline in venture capital activity compare to the global average of 42 % . Against this backdrop , Qatar ’s heightened meshing in speculation capital , spearheaded by its sovereign wealth fund and ontogeny bank , offers a promising outlook for the broader region , where 55 % of investor involved in backing startups last twelvemonth were local .
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