Qatar Development Bank (QDB) and Ooredoo have signed a Memorandum of Understanding (MoU) to establish a new investment platform, “Digital & Beyond Ventures.” The agreement, announced during Web Summit Qatar, marks a significant evolution in the strategic partnership, transforming their joint incubator into a venture platform to accelerate innovation and investment in the country’s tech ecosystem.
From Incubation to Investment
The partnership will pivot the “Digital & Beyond” incubator, a joint initiative since 2016, into a co-owned investment platform. This strategic shift moves from a traditional incubation model to directly investing in Qatar-based startups operating in advanced technology sectors, enabling them to scale commercially and develop enterprise-ready solutions.
Mohammed Al-Emadi, Executive Director of Incubation and Venture Capital Investment at QDB, stated, “This collaboration with our partners at Ooredoo reflects our commitment to supporting startups and innovation-led projects in technology and digitalization, while building bridges that connect technological innovation with market needs. This step takes the Digital & Beyond platform to broader investment horizons, building on the support it has provided since its launch.”
Thani Ali Al Malki, Chief Strategy and Digital Transformation Officer at Ooredoo, added, “We are pleased to continue our partnership with QDB, elevating the role of the Digital & Beyond incubator in line with the significant progress of Qatar’s investment sector. We reaffirm our commitment to supporting ambitious ideas and bold solutions within the high-tech sector by equipping entrepreneurs with the necessary tools and leveraging the expertise of our teams.”
A Strategic Partnership For Growth
Under the new framework, QDB will manage the investment operations of the joint platform’s fund and oversee the delivery of specialized programs. This includes providing tailored support packages to help startups enhance their products and investment readiness.
Ooredoo will leverage its extensive network and expertise to facilitate market access for the portfolio companies. Its specialized teams will support startups in transforming innovative ideas into effective, corporate-ready solutions, providing them with a competitive advantage for sustainable growth.
Building on a Successful Foundation
Since its inception in 2016, the “Digital & Beyond” incubator has supported over 35 startups across various sectors, providing a total of QAR 4 million in investment and in-kind support.
In its new capacity as an investment platform, Digital & Beyond Ventures aims to invest in approximately 10 startups annually. The platform will source opportunities through an integrated pipeline that includes hackathons, pre-accelerator programs, accelerator programs, and direct early-stage investment. This initiative comes amid strong momentum in Qatar’s tech sector, reinforcing the nation’s position as a hub for innovation in line with Qatar National Vision 2030.
About Digital & Beyond Ventures
Digital & Beyond Ventures is a joint investment platform established by Qatar Development Bank (QDB) and Ooredoo. Evolving from the successful “Digital & Beyond” incubator, the platform is dedicated to investing in and scaling early-stage, Qatar-based startups in advanced technology sectors. It aims to foster innovation, create enterprise-ready solutions, and contribute to the economic diversification goals of Qatar National Vision 2030.
Source: Zawya
