Lisbon, November 16 (QNA) - Web Summit Lisbon 2024, the world's largest tech event, has come to an end, having welcomed over 71,000 business founders, investors, entrepreneurs and tech leaders from around the world.

The global event featured the participation of a prominent Qatari delegation, led by HE Sheikh Jassim bin Mansour bin Jabor Al-Thani, Director of the Government Communications Office and Chairman of the Permanent Web Summit Organising Committee. This participation is part of the preparations already underway for Web Summit Qatar 2025. The Qatari delegation featured speakers and representatives from various government and semi-government entities, alongside a dynamic group of entrepreneurs and startups from Qatar.

The participating entities included representatives from the Ministry of Interior, Ministry of Foreign Affairs, Ministry of Communications and Information Technology, Qatar Investment Authority, Invest Qatar, Qatar Free Zones Authority, Qatar Development Bank, Qatar Tourism, Visit Qatar in addition to the Qatar Financial Centre, Qatar Media City, Qatar Research, Development and Innovation Center and Qatar Manpower Solutions Co. (Jusour).

The State of Qatar pavilion has attracted thousands of the Lisbon summit's participants, showcasing the country's world-class infrastructure and comprehensive opportunities available for entrepreneurs and investors. The Startup Qatar Investment Program also announced the first cohort of selected startups, making up 11 out of 2,000 contestants. Four of the selected businesses have shared with the audience their experiences on the Startup Qatar program application during the summit.

Several Qatari speakers at Web Summit Lisbon shared their insights on a range of topics, including digital innovation, entrepreneurship and tourism. The speakers have additionally discussed the integration of AI into the business ecosystem, highlighted investment opportunities in Doha and spoke about the global future of innovation as well as successful organisational cultures. These discussions have underscored Qatar's commitment to building a tech-driven and knowledge-based future as well as establishing itself as a leading hub for various key economic sectors.

In a panel with Paddy Cosgrave, CEO of Web Summit, titled 'Next Stop: Web Summit Qatar,' Sheikh Jassim said that the first edition of Web Summit Qatar has recorded astonishing successes, most notably the announcement of investments worth USD 1 billion, demonstrating Qatar's commitment to providing an ideal environment for startups. "Our success in attracting startups to Doha showcases Qatar's capabilities, and we remain optimistic about increased positive engagement when hosting the second edition of the summit next February."

He added: "Startups benefited from around USD 12 million in funding, as part of the Startup Qatar initiative, which was launched during Web Summit Qatar 2024 earlier this year. The first Web Summit edition in the Middle East and Africa has helped establish us as a regional hub for innovation and technology. Some 95 percent of the summit's participants expressed interest in attending next year's event, while two-thirds of participants showed their interest in relocating to Doha."

Cosgrave said: "The first-year event was really incredible, and it couldn't have gone better. For the second year, I think all indications are, the event will grow to the limit of the venue. That will be driven by international participation, not just from across the Middle East, but from India, from Africa, from the United States, North America, Europe."

He continued: "You can't ignore a market with nearly half a billion people in the Middle East. So, the event isn't just a local event. It's a global event in an incredibly important market, and so if you have ambition, one of the markets most companies will want to grow into includes the Middle East. Then you have to ask yourself, what is a good opportunity to go and meet most of the key players in that region? And I think Web Summit Qatar is the best opportunity in the year."

Qatar's participation in Web Summit Lisbon 2024 reflects its commitment to fostering innovation and technological advancement, in line with the Qatar National Vision 2030. Through its strategic focus on entrepreneurship and startups, Qatar aims to build a robust tech ecosystem that drives comprehensive national development, ensuring prosperity for generations to come. (QNA)