Startup Qatar Investment Program reveals first successful applicants

12 November 2024, Lisbon – Startup Qatar announced the first cohort of successful applicants to its Startup Qatar Investment Program at a press conference held during Web Summit Lisbon. Eleven startups were selected from nearly 2,000 applications submitted from around the world, and will receive a combined QAR 43.8 million (USD 12 million) in funding and ecosystem support, including access to shared office space in a leading Qatari incubator, accommodation and free entrepreneur visas to help establish and expand operations in Qatar.

"We are pleased to see such high levels of engagement from promising international startups eager to establish their presence in 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," said Hamad Rashid Al-Naimi, Strategy Manager at Invest Qatar.

Details of the cohort and support package

The program's first edition drew applications from markets including the United States, Canada, the United Kingdom, Turkey and India. Following a competitive selection process, 11 companies were chosen for their innovative ideas and potential for impact. The selected startups are:

• 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. Successful applicants will be eligible for seed or growth funding, with up to USD 500,000 available to establish operations in Qatar and up to USD 5 million to support expansion within the Qatari market. Additional in-kind benefits include access to incubator office space, accommodation and entrepreneur visas intended to smooth relocation and scaling efforts.

Organisers said the selected companies are expected to contribute to Qatar's research and development capacity by establishing R&D offices, collaborating with local universities, supporting graduates and enhancing the country's AI and machine learning ecosystem. The program also aims to bolster material innovation efforts and to integrate the startups into the local entrepreneurial landscape.

"These selected startups represent a diverse array of industries and bring innovative solutions that align with Qatar's vision for a vibrant entrepreneurial landscape. We look forward to fostering their growth and contributing to the development of a thriving startup ecosystem in the country," Al-Naimi added.

Outlook

The announcement coincided with Qatar's high-profile presence at Web Summit Lisbon, where the Qatar Pavilion showcased national technology advancements and the country’s business environment. Organisers pointed to the inaugural Web Summit Qatar in 2024 — which hosted more than 15,000 attendees from 118 countries and showcased 1,043 startups — as a springboard for further activity. Web Summit Qatar 2025 is scheduled for 23–26 February 2025. Startups and entrepreneurs interested in future rounds can apply via the Startup Qatar portal.