Qatar FinTech Hub (QFTH) is dedicated to offer Qatar’s first ever specialised incubator and accelerator programmes, which target entrepreneurs with innovative and cutting-edge fintech ideas. QFTH complements the country’s efforts to develop a robust and globally competitive fintech ecosystem, aligned with the priorities of Qatar National Vision 2030 and Qatar’s Second Strategic Plan for the Financial Sector. As a steward of the Invest Qatar brand, the Investment Promotion Agency Qatar (IPA Qatar) partners with international firms to support their long-term success in fintech and other key sectors.
At a glance
Qatar offers a huge opportunity for investment in the technology sector. The State, represented by the Ministry of Transport and Communications, launched the Smart Qatar Program (TASMU) that is designed to harness the power of technology and innovation turning Qatar into a smart country and opening new opportunities for the private sector. Qatar is also working hand in hand with multinational companies, such as Microsoft and Google, to accelerate its digital transformation and upscale the technology ecosystem. It is worth noting that Qatar is the first country to deploy 5G, with a 99.7% world record of internet penetration- reflecting the great strides the country has undertaken as a forerunner in global digitalisation initiatives.
QBIC – Digital & Beyond
Digital & Beyond is a specialised incubator dedicated to the development and acceleration of promising technology-focused startups and SMEs based in Qatar, and fast-growing tech businesses looking to soft-land in Qatar. Established by Ooredoo in partnership with Qatar Business Incubation Centre (QBIC), Digital & Beyond aims to empower the next generation of innovative businesses in Qatar, and attract scaling success stories to Qatar, via a holistic range of support and funding solutions.
With over a decade of experience in startup investments and acceleration,
Qatar SportsTech aims to accelerate the sports industry to new
Qatar SportsTech is initiated by Qatar Development Bank, powered by Startupbootcamp and supported by the Supreme Committee for Delivery & Legacy, Qatar Stars League, beIN Media Group, Qatar Financial Centre, Aspire Zone Foundation, MBK Holding and the Ministry of Commerce and Industry.
Gaming and eSports
Qatar is primed for the development of a gaming and eSports cluster with its advanced ICT infrastructure and young population, with whom gaming and eSports has become a leading form of entertainment. Qatar is the first country to deploy 5G, with a 99.7% world record of internet penetration- reflecting the great strides the country has undertaken as a forerunner in global digitalisation initiatives. Moreover, tangible opportunities exist for gaming companies to develop interactive experiences linked to major sports events in Doha such as the FIFA World Cup 2022 and Asian Games 2030. Locally, opportunities exist to build an eSports ecosystem leveraging links and partnerships between national champions and major sports franchises.
Who is already here
Oracle is a market leader in autonomous, cloud, and application technologies, including enterprise-level database solutions and integrated Enterprise Resource Planning (ERP) system, among others. In Qatar, Oracle’s Cloud applications are powering the digital infrastructure and operations of many public and private institutions and provide opportunities for entities to tailor and improve their services to internal and external customers.
In 2019, Oracle signed an Unlimited License Agreement (ULA) with the Ministry of Transport and Communications (MOTC) with the aim of providing scale benefits to public institutions while ensuring standardisation and consistency of ICT service delivery across government agencies. Other areas include process efficiency and enhanced collaboration in public infrastructure projects, as well as accelerating digital transformation in logistics operations, including partnering with Milaha, Qatar’s leading force in Maritime and Logistics, to drive its operational efficiency with automated processes and Enterprise Resource Planning (ERP) solutions.
Oracle’s latest venture in the country came in March 2020, when it signed an agreement with the Qatar General Electricity and Water Corporation (Kahramaa) to implement a ‘Customer Relationship and Billing Management System’ – a QAR55 million project to take place over the course of two years. Among other key objectives, the collaboration aims to offer Kahramaa a unified window for customer interactions while providing customers with enhanced services.
Microsoft’s presence in Qatar – set up at the Qatar Science and Technology Park (QSTP) – is focused primarily on the enablement and acceleration of Qatar’s digital transformation, providing technical training and capacity-building programmes, as well as engaging in research and development in key areas such as e-learning, cloud computing, and others.
Through its partnership with the government, Microsoft’s upcoming cloud data centre region in Qatar is set to go live in 2021 and will further expand its global cloud infrastructure, which is today serving more than a billion customers and 20 million businesses. The move will grant public and private entities in the country access to scalable, resilient cloud services with the added benefits of data-residency and the broadest compliance.
What’s more, the software leader is training 1,000 teachers with the Ministry of Education and Higher Education (MOEHE) to help revolutionise Qatar’s classrooms, and is additionally engaged in R&D programs with Qatar Computing Research Institute, as well as working with Texas A&M University in Qatar in the field of mixed and virtual reality. Many of these developments are “Made in Qatar” and their innovations can be introduced to the global market.
Siemens has been a local company in Qatar since 1970 and a partner in the region for more than 150 years. They area technology company focused on industry, infrastructure and transport. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation, they create technology with purpose adding real value for customers. By combining the real and the digital worlds, they empower their customers to transform into digital, smart and sustainable industries, helping them to achieve mutual commitment towards the Qatar National Vision 2030.
IBM’s forays in the emerging markets of the world continue with the opening of its branch office in Doha, Qatar – which was opened in 2012.
The increased presence in the Middle East region is stated to be in line with IBM’s global geo-expansion strategy, an initiative aimed at strengthening the company’s presence in growth markets such as Qatar.
IPA Qatar and PwC are joining forces to bring to you the definitive guide to Qatar's business environment, so you can confidently plan for your next venture with a full understanding of the legal and regulatory framework within which your business will operate.