Timed ahead of the inaugural Web Summit Qatar, the 'Startup Qatar' initiative facilitates business establishment with incentives like tax waivers and fee reductions. Qualified startups can benefit from a five-year tax exemption facilitated by QFC, complying with international standards. Additional perks include five years of free registration and license renewal through Qatar Financial Centre (QFC), complimentary shared office spaces at leading local incubators, accommodation benefits, and free Entrepreneur Visas. Startups can also apply for equity funding through the Startup Qatar Investment Program managed by Qatar Development Bank (QDB).

Invest Qatar has also announced plans to introduce exclusive services and opportunities at Web Summit Qatar through the 'Startup Qatar' Pavilion, in collaboration with key national stakeholders including the Ministry of Commerce and Industry (MOCI), Ministry of Communications and Information Technology (MCIT), QDB, QFC, Qatar Free Zones Authority (QFZ), Qatar Science & Technology Park (QSTP), Media City Qatar (MCQ), Qatar Manpower Solutions (Jusour), Visit Qatar, and Sport Accelerator.

Sheikh Ali Alwaleed Al-Thani, CEO of Invest Qatar, expressed enthusiasm about the initiative, stating, "We are proud to launch 'Startup Qatar' in partnership with national stakeholders to empower ambitious entrepreneurs and foster their successful growth journey in Qatar."

This initiative underscores Qatar's commitment to nurturing an innovation ecosystem, a cornerstone of the sustainable growth model outlined in Qatar's Third National Development Strategy 2024-2030. Innovation will be pivotal in enhancing Qatar's specialized economic clusters with technology-driven competitive advantages, addressing national challenges with innovative solutions

Invest Qatar invites attendees of Web Summit Qatar to visit the 'Startup Qatar' Pavilion at Hall 1, E 105, to explore Qatar's business-friendly environment and discover exciting opportunities in the emerging tech sector. The Summit, scheduled from February 26 to 29 at the Doha Exhibition and Convention Center (DECC), is set to convene over 12,000 tech enthusiasts, 1,000+ startups, and 400+ investors.

Established in 2019, Invest Qatar oversees investment promotion activities to attract foreign direct investment, aiming to strengthen Qatar's position as a preferred investment destination while supporting economic diversification and development. (QNA)".