Enabling Entrepreneurs: Invest Qatar Launches Startup Qatar
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The Investment Promotion Agency Qatar (Invest Qatar) has launched Startup Qatar, a one-stop online platform that caters for all needs of startup businesses in Qatar.
Within only six days since its launch at the Web Summit Qatar 2024 (which, in its first edition, was the largest gathering of startups ever in the Middle East), the platform was able to record more than 3,000 visits.
“We are quite pleased with the high level of engagement with Startup Qatar from promising international startups, who are keen to establish their presence in Qatar,” said Sheikh Ali Alwaleed Al Thani, CEO at Invest Qatar. “This pioneering collaboration with key national stakeholders highlights the country’s unwavering commitment to advance the innovation and entrepreneurship ecosystems, while supporting Qatar’s shift toward a knowledge-based economy.”
As part of Startup Qatar’s special offering, Qatar Financial Centre facilitated the successful registration of over 100 businesses. Furthermore, the Startup Qatar Investment Program, provided by Qatar Development Bank (QDB), received over 150 applications during the event.
With an aim to attract tech startups to either establish or expand their presence in Qatar, the program provides funding for both seed and growth-stage companies. The program is complemented by incentives and support services aligned with the privileges and subsidies already offered by Startup Qatar.
Qatar Manpower Solutions Co. (Jusour), a private joint-stock company wholly owned by the Government of Qatar, also announced its intention to support the Startup Qatar initiative by introducing the Mustaqel program, a government-backed residency initiative aimed at drawing entrepreneurs and talents worldwide to Qatar.
The scheme will provide a five-year residency permit (with an option to renew) to individuals excelling in various industries. The talent visa is offered to highly skilled individuals who have obtained an applicable employment contract in Qatar, as well as meet the minimum skill and experience requirements. Meanwhile, the entrepreneur visa is for business owners who submit their business plans, or evidence that minimum seed funding requirements have been met.
Sheikh Jassim bin Mansour bin Jabor Al Thani, Director of the Government Communications Office and Chairman of the Web Summit Qatar 2024 Organizing Committee, said, “The remarkable engagement from entrepreneurs at Web Summit Qatar 2024 highlights our commitment to nurturing talent. The event crossed many milestones, be it hosting the largest ever startup gathering at a Web Summit debut or attracting more than double the anticipated number of attendees. The biggest tech companies in the world were also present, actively taking part in discussions and forging partnerships over the summit’s four days, which underscores their confidence in Qatar’s significant position as a tech hub on both regional and global stages.”
He added, “With forward-thinking initiative like Startup Qatar, we are attracting visionaries worldwide to launch their dreams here. By providing vital funding, incentives and logistical support, Qatar is becoming a leading destination for tech startups.”