Web Summit Qatar driving tech innovation, business growth, says Althaf

Web Summit Qatar’s successful inaugural edition last year has prompted an influx of startups, the majority of which are from a wide range of countries worldwide, thus driving business growth and innovation in tech, a top executive of retail giant LuLu Group has said.

Qatar’s first-ever Web Summit in 2024 offered many global startups to study the country’s entrepreneurial ecosystem, said Dr Mohamed Althaf, Director, LuLu Group.

“A significant number of international startups visited Qatar to explore the opportunities presented by the country’s burgeoning tech innovation landscape. Their interactions with their counterparts here have laid the groundwork for future collaborations and advancements,” Althaf told Gulf Times.

He also said, “I am confident that the insights they have gained from these engagements will not only spur further interest but also lead to concrete actions and initiatives in the near future, reflecting a promising outlook for both domestic and international enterprises looking to thrive in the country’s vibrant entrepreneurial ecosystem.”

He also pointed out that pre-summit engagement has been significant, with many companies, particularly those in e-commerce, payment solutions, and digital marketing, already laying the groundwork.

“Even people like us are receiving a lot of inquiries and many offers from companies, especially on e-commerce, payment solutions, and digital marketing companies. The momentum is building, with many international tech startups, including India and Portugal, converging on Qatar,” he pointed out.

Althaf said Qatar, which is undergoing rapid and robust digital transformation, is strategically positioned in a region with a young and digitally savvy population. “At the same time, Qatar’s backyard comprises countries where technology and the youth are evolving.

“Qatar is accessible via airline connectivity and easy visa regimes, among other factors. Many international companies keep coming and this indicates that many deals are going to be secured at the summit this year,” he explained, citing some 800 startups from India alone are exploring the possibility of visiting the country.

Althaf also emphasised that Qatar’s strategic location in the region and favourable business environment serve as an ideal springboard for global tech startups looking to expand into neighbouring countries.

Qatar’s smart city infrastructure, exemplified by developments in Msheireb Downtown Doha and Lusail, also positions the country as an attractive destination for tech companies, he said.

Althaf said, “Qatar’s readiness to embrace new technologies, such as artificial intelligence (AI) and machine learning (ML), as well as generative AI, make it a prime location for pilot projects like cognitive cities.

He said he remains optimistic about Qatar’s ability to continue attracting interest from tech developers, playing a key role in new urban living and enhancing the lives of its citizens and residents.