Qatar is actively competing with other countries in the MENA region to attract innovative companies by offering a favorable business environment. Web Summit Qatar in Doha is an opportunity for industry participants to synchronize their schedules.
The third edition of Web Summit Qatar kicked off in Doha to a sold-out crowd. More than 30 000 guests from the high-tech and innovation sectors attended the event, including representatives of 1600 startups, 900 investors, and 400 speakers from around the world, making it the largest event in Qatar to date.
The summit, held from February 1 to 4, is considered a key platform for specialized conferences and discussions covering various aspects of technological development – from artificial intelligence and corporate innovation to fintech and new energy solutions.
Participants came from more than 120 countries, and leading global companies, including IBM, Microsoft, Huawei, and Qatar Airways, are among the event’s partners.
Shifting Technological Power
Speaking at the opening, Web Summit CEO Paddy Cosgrave noted the shifting global dynamics in technology. “We’ve just seen the capabilities of the world’s most advanced humanoid robots, created by the Chinese company UniTree,” he said.
Cosgrave noted that while Western companies remain key players today, they are “struggling to keep up with the accelerating pace of Chinese innovation.” “Three years ago, people were talking about entering a multipolar world,” he noted. “Now we’re already living in it.”
Startup Support
The summit also featured important announcements aimed at strengthening Qatar’s startup ecosystem. Qatar’s Investment Authority (QIA) announced at the opening of the Web Summit in Doha that it will invest another 2 billion dollars in a program to encourage venture capital companies, Qatari Prime Minister Mohammed bin Abdurrahman Al Thani announced.
Twelve major venture capital groups are already operating in Doha along these lines, underscoring Qatar’s commitment to developing as a regional tech hub.
Other keynote speakers at the summit include Sheikha Moza bint Nasser, Eduardo Saverin of B Capital, Larry Lee of Amino Capital, Colin Kaepernick of Lumi, and Greek economist and former finance minister Yanis Varoufakis.
