CEO of QDB to QNA: NDS3 Places Great Importance on Startups

CEO of Qatar Development Bank (QDB) Abdulrahman bin Hesham al-Sowaidi said that, according to the objectives of the Third National Development Strategy (NDS3), the State of Qatar has given great importance on emerging companies and the private sector's contribution to the wheel of development through many initiatives and targets, including reaching a value of direct investments in emerging and technology companies of about 0.1% of the GDP by 2030.

NDS3 also stipulated the importance of the private sector's involvement in contributing to these investments by 70% of the aforementioned target, he added.

In exclusive statements, CEO of QDB told Qatar News Agency (QNA) that one of the most important initiatives to achieve the aspired goals is the Fund of Funds programme, which was announced by HE the Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim al-Thani during the Web Summit 2024 in Doha. The summit resulted in the launch of six funds approved under the umbrella of the Fund of Funds programme, which will enhance the climate of bold investment in the State of Qatar.

Al-Sowaidi affirmed that QDB works closely with Qatar Investment Authority (QIA) to boost the presence of investment funds, especially those interested in investing in early-stage companies, noting that QDB enhances the presence of business accelerators and startup studios affiliated with these investment funds to develop innovative ideas and startups, attract talent by providing support packages to start their businesses and participate in providing joint investments with venture capital funds to encourage investments in startups based in Qatar.

He expressed his delight to announce QDB's partnership to launch the first startup studio in Qatar with Utopia Capital Management, which is one of the Fund of Funds programme's first outputs, pointing out that the studio's role lies in developing innovative ideas in various sectors such as financial technology, health technology, logistics, climate and other promising technical fields, as well as attracting promising ideas from around the globe to expand from Qatar.

Abdulrahman bin Hesham al-Sowaidi highlighted the outcomes of the Startup Qatar investment programme, provided by QDB in co-operation with the Investment Promotion Agency in Qatar and other active partners, indicating that the programme was launched during the Web Summit 2025 in Doha and it received more than 2,500 applications from more than 60 countries around the globe.

The Startup Qatar investment program reflects the status of the State of Qatar as a leading centre and its attractiveness to technology start-ups and innovative ideas that aspire to be established or expanded from the State of Qatar, he noted.

The bank has made direct investments in several companies through this programme, and the investments and commitments to investment exceeded the QR70mn barrier during the past year, distributed across a number of sectors such as financial technology, artificial intelligence, data technology, digital games, health technology, education, and others.

CEO of QDB concluded his statements with QNA by saying that the bank will continue to receive applications for the next four years during the period of the State of Qatar's hosting of the Web Summit, noting that the bank is working on adding incentive packages and new investment tools to the programme in co-operation with strategic partners to ensure its distinction from other programmes in the region.