The State of Qatar is rolling out a substantial new incentive package for foreign investors, offering to cover up to 40% of business costs, alongside a significant injection of capital into the local startup scene. This move, highlighted during the Web Summit Qatar, underscores the nation’s commitment to becoming a leading hub for technology and innovation in the MENA region.
According to Abdullah Al Emadi, Senior Investor Relations Specialist at Invest in Qatar, the initiative is designed to drastically reduce the financial barriers for international companies looking to establish a presence in the country. “These incentives cover up to 40% of the companies’ costs, which means that a foreign investor can recover 40% of their investment in Qatar,” Al Emadi stated.
The Start from Qatar Initiative
A key pillar of this strategy is the “Start from Qatar” initiative, launched in collaboration with Qatar Development Bank (QDB). The program has already achieved significant results, investing $38 million into 40 startups across diverse sectors including FinTech, energy, and technology.
The initiative has attracted widespread interest, receiving over 5,800 applications since its inception. It offers two distinct funding categories to cater to startups at different stages: a “Startup” tier providing up to $1 million, and a “Growth” tier offering up to $5 million for more established, promising ventures.
A Streamlined Investor Journey
Invest in Qatar positions itself as the primary point of contact for companies entering the Qatari market. The agency provides comprehensive support, from navigating the legal and regulatory landscape to facilitating connections with relevant government and private sector entities.
Al Emadi emphasized the country’s dedication to simplifying bureaucratic processes, noting that the application for investment funding involves just six steps, from initial submission to securing capital. This streamlined approach has already facilitated the entry of global companies such as UNO, Infinite Level, Fever, and Quantum, with the agency guiding them from initial setup to full operational launch.
Aligning With National Strategy
These efforts are integral to Qatar’s Third National Development Strategy, which prioritizes key sectors for growth, including industry, logistics, finance, tourism, and health. By attracting investment and talent to these areas, Qatar aims to diversify its economy and solidify its position as a global business destination.
The government is betting on technology companies to drive foreign direct investment, which reached $3 billion in other sectors in 2024, creating over 9,300 jobs. Events like the Web Summit provide a critical platform to showcase these opportunities to a global audience.
About Start from Qatar
“Start from Qatar” is a national initiative launched by Invest in Qatar in partnership with Qatar Development Bank. It is designed to attract international startups and entrepreneurs to establish their operations in Qatar by providing substantial funding, incentives, and comprehensive support services to foster innovation and accelerate growth within the country’s burgeoning tech ecosystem.
Source: erembusiness
