While fintechs in Qatar have had a stellar year in 2021, startups in the ‘FoodTech’ and ‘SportsTech’ industries are among the companies that are expected to add value to the economy this year, according to an industry expert.
Asked to give a forecast for tech startups’ performance in 2022, as well as for Qatar’s startup sector, including up and coming sectors being anticipated this year, Ahmed Isse, co-founder of local fintech player, Dibsy, told Gulf Times: “It was a big year for startups all over the world and not just in Qatar.”
“The biggest sectors that we see growing are FoodTech, fintech, and SportsTech. And this is not only influenced by the pandemic but also other economic factors,” he also pointed out.
Dibsy uses a simple payment API to offer multiple payment methods, helping businesses to accept payments through their website, apps, or messaging platform, said Isse. The fintech firm recently won the ‘Most Funded Startups in Qatar’ award during the ‘Digital Qatar Symposium & Awards 2021’ organised last month by Forbes Middle East.
According to Isse, the Covid-19 pandemic has changed consumer behaviour, giving tech startups an opportunity to address the public’s needs using digital technology and other innovative ideas. With the recent surge in daily Covid-19 infection cases, more people are maximising the use of technology for their day-to-day needs.
“People are spending more time online and are starting to take advantage of e-commerce when brick and mortar stores are closed. Startups in fintech and delivery, for example, helped feed the new needs that arose from the aforementioned behavioural changes,” Isse explained.
Isse emphasised that the Covid-19 pandemic has accelerated the pace of Qatar’s digital transformation, which is among the country’s priorities as part of the objectives of Qatar National Vision 2030.
He stressed that the pandemic has also increased the need for lean startups, which, according to Isse, “are more agile and can thrive under rough circumstances.”
He said, “We don't yet know how well-equipped startups are as the pandemic is still ongoing. Startups are, however, learning how to iterate quickly and improve their products and services when faced with challenges. As long as startups are building for customers and remain focused on their product, they can do well in the long run.”
Isse also noted that the 2022 FIFA World Cup is a good business opportunity for startups in Qatar. But he cautioned that they must be quick in making the most of the event, which will run from November 21 to December 18.
“Because the World Cup is a relatively short event, startups that have acquired the skills needed to iterate quickly will be able to do better under pressure and in short timeframes,” Isse added.
Asked to give a forecast for tech startups’ performance in 2022, as well as for Qatar’s startup sector, including up and coming sectors being anticipated this year, Ahmed Isse, co-founder of local fintech player, Dibsy, told Gulf Times: “It was a big year for startups all over the world and not just in Qatar.”
“The biggest sectors that we see growing are FoodTech, fintech, and SportsTech. And this is not only influenced by the pandemic but also other economic factors,” he also pointed out.
Dibsy uses a simple payment API to offer multiple payment methods, helping businesses to accept payments through their website, apps, or messaging platform, said Isse. The fintech firm recently won the ‘Most Funded Startups in Qatar’ award during the ‘Digital Qatar Symposium & Awards 2021’ organised last month by Forbes Middle East.
According to Isse, the Covid-19 pandemic has changed consumer behaviour, giving tech startups an opportunity to address the public’s needs using digital technology and other innovative ideas. With the recent surge in daily Covid-19 infection cases, more people are maximising the use of technology for their day-to-day needs.
“People are spending more time online and are starting to take advantage of e-commerce when brick and mortar stores are closed. Startups in fintech and delivery, for example, helped feed the new needs that arose from the aforementioned behavioural changes,” Isse explained.
Isse emphasised that the Covid-19 pandemic has accelerated the pace of Qatar’s digital transformation, which is among the country’s priorities as part of the objectives of Qatar National Vision 2030.
He stressed that the pandemic has also increased the need for lean startups, which, according to Isse, “are more agile and can thrive under rough circumstances.”
He said, “We don't yet know how well-equipped startups are as the pandemic is still ongoing. Startups are, however, learning how to iterate quickly and improve their products and services when faced with challenges. As long as startups are building for customers and remain focused on their product, they can do well in the long run.”
Isse also noted that the 2022 FIFA World Cup is a good business opportunity for startups in Qatar. But he cautioned that they must be quick in making the most of the event, which will run from November 21 to December 18.
“Because the World Cup is a relatively short event, startups that have acquired the skills needed to iterate quickly will be able to do better under pressure and in short timeframes,” Isse added.
