Qatar’s startup ecosystem ‘making strides’ to expand and innovate: IPA Qatar

Qatar’s startup ecosystem ‘making strides’ to expand and innovate: IPA Qatar

Qatar remains a viable seedbed for different startups and offers entrepreneurs a host of opportunities to transform their innovative ideas through different programmes and access to funding, according to a report released recently by the Investment Promotion Agency Qatar (IPA Qatar).

In its first ‘Invest Qatar Annual Report 2021’, the agency stated that the country’s startup ecosystem “is also making strides in expanding and improving the environment for startups to thrive and innovate.”

According to the report, the Tasmu programme, launched by the then Ministry of Transport and Communications, was a key player in expanding Qatar’s ICT sector through building connections between the public and private sector, providing funding, and empowering startups.

The report also noted that the Qatar Science and Technology Park (QSTP) also took several initiatives to foster innovation in the country, including partnerships with Qatar Development Bank (QDB) and Microsoft.

The funding available for startups has also increased significantly in Qatar compared to the previous year, the report emphasised, citing Qatar FinTech Hub (QFTH) as the “second-highest investor in the region.”

Despite the pandemic, the report said Qatar has succeeded in building momentum to launch new programmes, initiatives, events, and partnerships to encourage technological innovation and further rejuvenate the