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Qatar reportedly has a $100M fund for startups
Qatar's startup program will offer between $500,000 and $1.5 million for startups looking to establish or expand operations in the country.
In a statement, QDB revealed that the program will offer funding of up to $500,000 for early-stage startups looking to establish a presence in Qatar, and up to $5 million for growth-stage companies seeking to expand their operations in the Middle Eastern country. “Through these efforts, we aim to attract and retain talents in various fields to support our entrepreneurship ecosystem, foster innovation and accelerate technology adoption across all domains in a bid to contribute to a sustainable and business-friendly economy,” Al Sowaidi said. Against this backdrop, Qatar’s heightened engagement in venture capital, spearheaded by its sovereign wealth fund and development bank, offers a promising outlook for the broader region, where 55% of investors involved in backing startups last year were local.
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