Startup Qatar' Initiative Offers Tax Breaks and Funding at Web Summit
Invest Qatar, has unveiled an initiative, "Startup Qatar," an online platform aimed at serving as a one-stop resource for startups seeking information, support, and opportunities in the country. The initiative, announced in anticipation of Web Summit Qatar, the world's largest technology event in the region, aims to connect businesses with vital services, funding, incubation programs, government grants, and networking events through its website.
"Startup Qatar" offers a range of facilities for business establishment, including tax and fee waivers. Qualified startups stand to benefit from a five-year tax waiver administered by the Qatar Financial Centre in adherence to international standards. Additionally, startups can enjoy free registration and license renewal for five years by QFC, complimentary shared office space in leading local incubators, accommodation benefits, and free Entrepreneur Visas. The initiative also opens avenues for startups to apply for equity funding through the Startup Qatar Investment Program administered by Qatar Development Bank.
Invest Qatar, as part of this initiative, has also revealed plans to introduce exclusive services and opportunities at the upcoming Web Summit Qatar. The "Startup Qatar" Pavilion, a collaboration with key national stakeholders including the Ministry of Commerce and Industry, Ministry of Communications and Information Technology, QDB, QFC, Qatar Free Zones Authority, Qatar Science & Technology Park, Media City Qatar, Qatar Manpower Solutions, Visit Qatar, and Sport Accelerator, will provide support for business setup and licensing, startup assistance, talent attraction, and immigration advice, alongside incubation, acceleration, and advisory support.
Sheikh Ali Alwaleed Al-Thani, CEO of Invest Qatar, expressed his pleasure at launching the "Startup Qatar" initiative in collaboration with key national stakeholders, emphasizing its role in empowering entrepreneurs and supporting their growth journey in Qatar. The initiative aligns with Qatar's commitment to boosting an innovation ecosystem, a crucial element of the recently launched Third National Development Strategy 2024-2030.
Invest Qatar invites attendees of Web Summit Qatar to explore the opportunities in Qatar's emerging tech sector at the "Startup Qatar" Pavilion located in Hall 1, E 105, at the Doha Exhibition and Convention Center from February 26 to 29. The event is set to bring together over 12,000 tech enthusiasts, 1,000+ startups, and 400+ investors from around the world.
