Qatar’s Amir Sheikh Tamim bin Hamad Al Thani visited the event’s venue, where he toured several pavilions of key local and international companies.
Qatar’s Prime Minister and Minister of Foreign Affairs, Sheikh Mohammed bin Abdulrahman Al Thani, has delivered the opening speech of the second edition of the Web Summit Qatar, the region’s largest gathering of startups.
The major event kicked off on Sunday at the Doha Exhibition and Convention Center (DECC) and will run until Wednesday, February 26.
Earlier, Qatar’s Amir Sheikh Tamim bin Hamad Al Thani visited the event’s venue, where he toured several pavilions of key local and international companies that displayed prominent national and international companies from the digital and technology sector.
Addressing a large crowd of officials, CEOs and leading figures from Doha and beyond, Sheikh Mohammed highlighted the importance of the event, describing it as “a platform where innovation meets opportunities”.
He highlighted that the Web Summit reflects Qatar’s spirit, drawing a parallel between the small size of the Gulf state and its significant global influence.
“Being a small state like Qatar is similar to being a startup in this exciting digital age, where an entrepreneur with a brilliant idea can change the world,” Sheikh Mohammed said.
“That’s why, at the state level, we are focusing on helping startups, because they embody the spirit of Qatar.”
The first edition of the Web Summit in 2024 saw the announcement of a $1bn (about QAR 3.6bn) investment by the Qatar Investment Authority (QIA) in local and regional venture capital funds, further cementing Doha’s position as hub for startups.
“Last year, from this very stage, I announced that the Qatar Investment Authority would form a fund of funds to ensure that Qatar and the wider region had access to strategic investment capital[…]and we delivered,” Sheikh Mohammed said.
The top Qatari official added that QIA signed six leading global investment entities to deploy capital regionally and globally, all of which will open their offices or regional headquarters in the Gulf state.
Sheikh Mohammed added that the digital platform, Startup Qatar, is also supporting funding and opportunities for startups and entrepreneurs.
The past year alone saw more than 2,000 applications by companies from over 60 countries from all over the world on the platform.
“Qatar has jumped 11th position in the worldwide startup ecosystem ranking, the highest of any country in the top 100, making us a regional technology hub,” Sheikh Mohammed said.
Meanwhile, Paddy Cosgrave, the Web Summit CEO, underlined the significance of hosting such an event in Qatar, noting that 228 Qatari startups alone will be exhibiting in the coming days.
He added that the event tells “the story of Qatar, making it impossible to ignore”.
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