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Qatar offers paramount support for startups expanding presence in region

Doha, Qatar: Qatar extends its support significantly to startups and businesses interested in establishing and expanding their presence in Qatar, remarked officials during a panel discussion at the Web Summit, yesterday.

In a session entitled ‘Unlocking Qatar’s Potential: The QFC Advantage for Startups’ addressed key opportunities for entrepreneurs desiring to establish their businesses in the country through various accelerator programmes.

Qatar Financial Center (QFC) enables businesses, from startups to large corporations looking to expand in the region, to benefit from a strong legal and regulatory framework that aligns with international best practices, encompassing both regulated and non-regulated activities.

Highlighting QFC’s role in encouraging young and dynamic innovators to open offices in Qatar, Nour Herzallah, Client Relationship Expert at QFC said “We are going to enhance our platform operations and connectivity of the ecosystem. Through the QFC portal, you can open a fully digitalised process.”

She remarked that the entity will also have a ‘collaborate and partnership notice board’, providing an opportunity for all QFC startups to showcase their service offerings and explore the QFC ecosystem. “At this Web Summit, we are also expanding partnerships, including MoUs with leading consultancy groups in Qatar such as The View Hospital to offer VIP healthcare access to our QFC clients,” she said.

Additionally, QFC has collaborated with Ooredoo, Vodafone Qatar, and QNB to provide valuable services to its partners. The session also included insights from Majed Lababidi, Director of Ecosystem Integration at Alchemist Doha, a startup currently part of QFC’s accelerator program.

“So at Alchemist Doha, we are known to have this triple impact for our startup that we are investing in. So Alchemist doesn’t only invest in startups, so we don’t fully give money. But because we are a branch of an Alchemist Accelerate in The US, it’s very well known as the best B-to-B access program for early-stage startups,” The incubation services we provide to our startups are crucial and play a key role in their development and success, Lababidi said.

He mentioned that the incubation services provided by Alchemist Doha to their startups are crucial and play a key role in their development and success.

He further stated, “We help them with the registration through our partnership with the QFC and provide them with a free coworking space through our partnership with QSTP and MCIT.”

The Startup official emphasised that the entity also offers startups access to mentorship, talents, and potential clients.

“They need access to brands. So through our partnership, we provide and facilitate all these connections with potential clients to our potential start-up that we are investing in. So with this triple impact investment, incubation services, and acceleration services, we attract the most talented startups to come and enjoy being in Qatar and integrate with the local innovation ecosystem,” Lababidi added.