tag

Qatar Development Bank (QDB) announced a major expansion of its support for entrepreneurs at the 11th edition of the Rowad Entrepreneurship Conference, unveiling new investment packages designed to attract global startups to Doha.Speaking at the conference’s opening ceremony, QDB CEO Abdulrahman bin Hesham al-Sowaidi said: “I am pleased to announce the doubling of investment packages: up to QR4mn for seed stage companies and up to QR20mn for growth stage companies. This programme serves as a bridge for outstanding startups worldwide to establish in Qatar and expand globally.”Al-Sowaidi emphasised that entrepreneurship in Qatar has evolved into a national endeavour, supported by the Third National Development Strategy (NDS3). He noted that the private sector’s role in venture capital “is expanding rapidly.”“Last year, private sector participation reached 57% of total venture capital investments. We continue our journey towards achieving the national target of 70% by 2030,” he explained.QDB’s investment arm now ranks fourth among the most active investors in the Middle East and North Africa, with direct and indirect investments exceeding “QR350mn.” The bank has also tripled the value of single co-investment deals to “QR11mn,” strengthening partnerships with local and international funds.Al-Sowaidi highlighted QDB’s partnerships with the Qatar Investment Authority’s (QIA) Fund of Funds programme, including the launch of the HealthTech Accelerator with Deerfield’s Cure programme, which connects Doha and New York. He also pointed to the creation of Qatar’s first venture building studio, The studio, in collaboration with Utopia Capital Management.Capacity building initiatives have also been central to QDB’s strategy. More than 220 angel investors have been accredited through a programme with the Qatar Finance and Business Academy, paving the way for deeper engagement in venture capital across the region.“Aligned with Qatar’s ambition to be a launchpad rather than just a destination, we introduced the Startup Qatar Investment Programme. In just two years, it has supported more than 35 companies with investments exceeding QR130mn,” al-Sowaidi said.Al-Sowaidi stressed that digitalisation is now essential for competitiveness. QDB has rolled out a Digital Transformation programme, introduced the Smart Industry Readiness Index (SIRI) for self-assessment, and provided grants and financing to support companies in adopting advanced technologies.He cited figures from the Global Entrepreneurship Monitor (GEM) showing that 81% of early-stage entrepreneurs in Qatar rely on modern technology, evidence of the ecosystem’s ability to keep pace with global trends. QDB has also launched the Talent Community Programme, benefitting more than 50 entrepreneurs across 30 local and international companies, al-Sowaidi pointed out.He said this year’s Rowad conference gathered more than 120 local and international companies, 15 panel discussions, 45 workshops, and 28 startups competing to showcase their projects.“We stand at a moment where entrepreneurship moves from the margins to the centre of the economic system. The private sector is playing an increasingly vital role in driving development,” emphasised al-Sowaidi, who urged entrepreneurs and investors to seize the opportunity for dialogue, knowledge exchange, and deep partnerships.

QNB announced a significant partnership with the Ministry of Communications and Information Technology (MCIT) to support the Tasmu Accelerator, an annual initiative launched to support global startups in introducing innovative solutions that contribute to Qatar’s transformation into a smart nation.The initiative focuses on strategic sectors such as healthcare, transportation and logistics, environment, financial services, and smart cities, aligning with Qatar’s long-term development objectives.As part of this partnership, QNB has reaffirmed its commitment to empowering innovation and fostering sustainable growth by supporting startups that drive digital transformation and technological progress in Qatar.Khalid Ahmed al-Sada, Senior Executive Vice-President, QNB Group Corporate and Institutional Banking, said:“Our sponsorship of the Tasmu Accelerator reflects QNB’s strong belief in the power of innovation and technology as key drivers of Qatar’s sustainable future. By supporting startups and entrepreneurs through this programme, we are contributing to Qatar’s Vision of becoming a Smart Nation and reinforcing our role as a trusted partner in the country’s digital transformation journey.”Commenting on the partnership, Eman al-Kuwari, Director of Digital Innovation at the Ministry of Communications and Information Technology, stated: “Our partnership with QNB reflects our mutual commitment to building a more diversified and sustainable economy by supporting innovation and entrepreneurship.“Through this co-operation, we aim to empower startups and emerging companies with the tools and opportunities needed to grow, while enhancing Qatar’s position as a regional hub for innovation and entrepreneurship. This also aligns with the Qatar National Vision 2030 and supports the country’s transformation into a knowledge-based economy.This initiative comes as part of QNB’s broader strategy to support the nation’s economic diversification and digital innovation goals in line with Qatar National Vision 2030.