21 February 2024

Invest Qatar Launches "Startup Qatar", Introduces Exclusive Services and Opportunities at Web Summit Qatar

Local
  • Qatar

Doha, February 21 (QNA) - The Investment Promotion Agency Qatar (Invest Qatar) announced the launch of "Startup Qatar", a one-stop online platform catering to all business requirements and serving as the single comprehensive national resource for information, support and opportunities offered to startups.

The new initiative will connect businesses to the countrys support services, funding and incubation programmes, government grants, networking events and various other resources through its dedicated website (startupqatar.qa).

Launched ahead of the inaugural edition of the worlds largest technology event in the region, Web Summit Qatar, the "Startup Qatar" initiative offers facilities for business establishment, including tax and fee waivers. Qualified startups can enjoy a five-year tax waiver administered by QFC in accordance with international standards.

Other facilities include free registration and license renewal for five years by Qatar Financial Centre (QFC), free shared office space in one of Qatars leading local incubators, accommodation benefits and free Entrepreneur Visas. Equally significant, startups can apply for equity funding via the Startup Qatar Investment Program administered by Qatar Development Bank (QDB).

Additionally, as part of its new initiative, Invest Qatar has unveiled plans to introduce exclusive services and opportunities at the Web Summit Qatar. These exclusive privileges will be offered at the "Startup Qatar" Pavilion at Web Summit Qatar, held in collaboration with the Ministry of Commerce and Industry (MOCI), Ministry of Communications and Information Technology (MCIT), QDB, QFC, Qatar Free Zones Authority (QFZ), Qatar Science & Technology Park (QSTP), Media City Qatar (MCQ), Qatar Manpower Solutions (Jusour), Visit Qatar and Sport Accelerator.

The Pavilion will provide instant support for business setup and licensing, startup assistance, talent attraction and immigration advice, in addition to incubation, acceleration and advisory support.

Commenting on the new initiative, Sheikh Ali Alwaleed Al-Thani, CEO, Invest Qatar, said: "We are pleased to launch the "Startup Qatar" initiative in partnership with key national stakeholders to empower ambitious entrepreneurs and support their successful growth journey in Qatar.

This initiative underscores the countrys commitment to foster an innovation ecosystem, a pivotal component of the sustainable growth model outlined in Qatars recently launched Third National Development Strategy 2024-2030. Innovation will play a pivotal role in equipping the countrys bourgeoning specialised economic clusters with technology-driven competitive advantages, while also addressing national challenges that demand innovative solutions.

We are confident that the "Startup Qatar" will be a key contributor to driving innovation, accelerating entrepreneurship and supporting startup growth in Qatar." Invest Qatar invites Web Summit attendees to visit the "Startup Qatar" Pavilion located in Hall 1, E 105, to explore the countrys welcoming business environment and learn about the exciting opportunities in Qatars emerging tech sector.

The Summit is poised to bring together over 12,000 of the brightest minds from the tech world, along with 1,000+ start-ups and 400+ investors. The event will be held in Doha, from 26 to 29 February, at the Doha Exhibition and Convention Center (DECC).

The Investment Promotion Agency Qatar (Invest Qatar) is responsible for overseeing investment promotion activities, aimed at attracting foreign direct investment to Qatar. Established in 2019, Invest Qatars mission is to strengthen Qatars position as an ideal investment destination, while facilitating investments that foster economic diversification and development. (QNA)



Keywords

Economy, Qatar
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