Startup Qatar Investment Program reveals first successful applicants
Startup Qatar announced 11 international startups selected for its Investment Program at Web Summit Lisbon; the cohort will share QAR 43.8 million (USD 12 million) in funding and benefits and is expected to establish R&D and operations in Qatar.
12 November 2024, Lisbon – Startup Qatar has announced the first cohort of successful applicants to its Startup Qatar Investment Program, revealing that 11 international startups will share QAR 43.8 million (USD 12 million) in funding and benefits. The announcement was made at a press conference held during Web Summit Lisbon. Benefits for the selected companies include access to shared office space in one of Qatar’s leading incubators, accommodation, free entrepreneur visas and financial support ranging from seed or growth funding of up to USD 500,000 to expansion funding of up to USD 5 million for scaling within the Qatari market.
“We are pleased to see such high levels of engagement from promising international startups eager to establish their presence in Qatar,” said Hamad Rashid Al‑Naimi, Strategy Manager at Invest Qatar. “The Startup Qatar Investment Program highlights the country’s commitment to advancing the innovation and entrepreneurship ecosystem and supporting Qatar’s transition to a knowledge‑based economy.”
The program’s first edition attracted nearly 2,000 applications from around the world, including submissions from the United States, Canada, the United Kingdom, Turkey and India. After a competitive selection process, 11 startups were chosen on the basis of innovative ideas and potential for impact. The selected companies are Ynmo, Stemly, Sekgames, Huupe, Nafasaria, PaintIt.ai, Realyze Intelligence, Polymerize, Wahed, Nybl and Byanat.
Selected startups and sectors
- Ynmo
- Stemly
- Sekgames
- Huupe
- Nafasaria
- PaintIt.ai
- Realyze Intelligence
- Polymerize
- Wahed
- Nybl
- Byanat
The cohort spans a diverse set of industries including e‑gaming, edtech, sportstech, cleantech, proptech, healthtech, fintech and B2B SaaS. According to the announcement, the selected companies are expected to establish R&D offices in Qatar, collaborate with local universities, support local startups and graduates, and contribute to the country’s AI and machine‑learning ecosystem. The program also aims to bolster Qatar’s material innovation strategy and help position the country as a global technology hub.
During Web Summit Lisbon, Qatar’s pavilion highlighted the nation’s technology ambitions and the incentives available to international entrepreneurs, including strengthened IT infrastructure and targeted investment in emerging technologies such as artificial intelligence. The timing of the announcement underlines Qatar’s push to build momentum ahead of Web Summit Qatar 2025, which is scheduled to run from 23 to 26 February 2025. The inaugural Web Summit Qatar in 2024 drew more than 15,000 attendees from 118 countries and featured 1,043 startups.
Startup Qatar’s initiative is positioned as a one‑stop national resource for startup information, support and opportunities. Startups and entrepreneurs interested in future rounds of the Investment Program are invited to visit the Startup Qatar website for details and application information as the program prepares to open subsequent cycles.