The historic four-day event, being held for the first time in the Middle East, sets the stage for a convergence of creativity, innovation, and technological advancement, according to the organisers.
PM announces $1bn
QIA investment
Based on the directives of His Highness the Amir Sheikh Tamim bin Hamad al-Thani, HE the Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim al-Thani announced a $1bn Qatar Investment Authority (QIA) investment in international and regional venture capital funds to support local and international entrepreneurs.
“This is Qatar’s first venture capital (VC) Fund of Funds, a strategic investment programme to foster innovation in Qatar and kicks start technologies of tomorrow,” HE Sheikh Mohamed said during his address at the opening session of the Web Summit Qatar 2024.
“Web Summit Qatar 2024 serves as a milestone on this incredible journey of technology evolution, a moment to reflect on our progress and envision the steps that we must take to chart the course ahead, he said. “It’s more than just a gathering, it is a melting pot of the brightest minds in our world today. Coming together to form the future in a region with unlocked potential”.
HE Sheikh Mohammed underlined Qatar’s efforts and resources to establish a unique platform for fostering innovation, creativity, and human potential. In the last 20 years, he noted that the country witnessed remarkable advancements across various sectors.
He announced that Invest Qatar recently launched ‘Startup Qatar’, an online platform for information, support and opportunities offered to startups. This programme, he noted, provides startups a single portal to access funding, support services and incubation programmes, government grants and networking events.
Web Summit CEO Katherine Maher expressed her excitement about hosting this first international event for this year, with attendees from more than 118 countries engaging in record-breaking pre-event interactions.
She underlined the unprecedented turnout of startups, with nearly 200 African startups and a remarkable 328 women-founded startups participating in the summit, indicating a diverse and inclusive platform for innovation.
“We see tremendous activity, appetite and hunger from startups. In fact, Web Summit Qatar is already in its very first year the largest ever gathering of international startups in the region’s history. We are absolutely blown away by the incredible turnout,” Maher stressed.
With representatives from more than 81 countries, including startup ecosystems from Egypt, Brazil, Italy, the US, the UK, and India, among others, she said Web Summit Qatar 2024 promises a truly global perspective on the future of technology and entrepreneurship.
The Web Summit CEO noted that trade delegations from countries such as Canada, Turkiye, Bahrain, Pakistan, Nigeria, and Kenya further contribute to the global exchange of ideas and investment opportunities.
According to Maher, the event’s agenda features more than 380 speakers across multiple stages, covering topics ranging from cutting-edge technologies to the future of entrepreneurship and global supply chains.
In addition, the opening ceremony featured renowned comedian, author and media personality, Trevor Noah. It also showcased presentations by a number of startups focusing on cancer treatment, the future of retail in Africa, smart reports, and more, underscoring the diversity and innovation driving discussions at Web Summit Qatar 2024.
