Qatar startups perform well in 2021 amid disruptions and pandemic challenges, says tech entrepreneur

* Disruptions, Covid-19 challenges push growth in startup ideas in Qatar, says tech entrepreneur

Startups in Qatar performed well in 2021 amid the disruptions and challenges arising from the Covid-19 pandemic, according to a Doha-based tech entrepreneur.Overall, 2021 was a great year for fellow tech startups in Qatar, as well as for the country’s startup ecosystem,” CWallet CEO and founder Michael Javier told Gulf Times Sunday.“I believe it has tripled the number of startups ideas and increased the number of founders that applied to different incubation centres because of the hype in the region. It also led to more appetite for first-time angel investors to test the waters,” he also said.While there were no major disruptions by startups in Qatar, Javier said the use of e-commerce and delivery platforms has increased their user base.“Startups’ user base will be increasing more and more. And I believe 2021 was the spark of the revolution, and the country could expect more this year,” Javier further pointed out.According to Javier, 2020 and 2021 provided startups in Qatar a wealth of experience to fine-tune their services and adapt to the situation, giving them more opportunities to cater to the needs of the market this year.“The past two years were learning curves for a majority of startups, including CWallet and other fintech and ‘edtech’ startups. It was also the year of establishing the core business and partnerships with various industry players in both the domestic and international scene.“This time around it’s all about generating sales and acquiring customers at all cost. I believe 2022 is the ‘Series A’ year for local startups in Qatar. This means the opportunity to raise funds will be achievable,” Javier stressed.He also emphasised that this learning curve and other experiences will play a significant role in their business operations this year, especially since Qatar is hosting the 2022 FIFA World Cup, which opens many potential opportunities to do business.“There’s a lot of opportunities this year and those early startup mistakes, learnings, and experiences will allow startups to diversify or pivot the way business models work, especially how to capitalise on the upcoming FIFA World Cup,” Javier noted.Asked to give a forecast on the performance of tech startups and Qatar's startup sector in 2022, as well as up and coming sectors, Javier said: “I believe the number of successful startups will drastically increase and more funding will flourish. More international players will come and try to acquire local startups, as well. I believe mobility, ‘edtech’, and fintech will be in high demand.”Javier said that in the first quarter of this year, CWallet will announce major partnerships, including the closing of the company’s Pre-Series A. “Hopefully in the coming weeks, we will be part of Qatar Central Bank’s sandbox programme as we enhance our mobile money wallet, which will be providing payment and remittance services.”“Moreover, towards the first week of February 2022, we shall be realising ‘CShop Web’ – one of the biggest digital marketplaces in the region. Also, by end of the third quarter, we are aiming to penetrate in GCC and Asia regions in providing various services to expat-oriented countries,” Javier said.