'Qatar stands out as regional leader in digital transformation'

22/03/2025 04:43 AST

Qatar is recognised as a regional leader in digital transformation making it an ideal base for expansion of foreign entities, said an official.

In an interview with The Peninsula, Mukhammad Khalil, Founder of Startup Garage highlighted that the vision aligns with Qatar's commitment to investing more than $10bn in innovation and entrepreneurship as part of the Qatar National Vision 2030.

Qatar has allocated $2.8bn towards AI and cloud infrastructure to establish itself as a technology hub, ranking first in MENA for broadband speed and sixth globally.

Khalil said "As part of our expansion, we plan to launch our Qatar office in Q2 2025 with a team of four employees focused on business development, venture partnerships, and startup acceleration. Our key priorities include expanding Uzbek startups into Gulf Cooperation Council (GCC) markets, attracting MENA investments into Central Asia, and establishing co-investment networks with Qatari VCs and angel investors."

The official mentioned that Web Summit Qatar hosted last month represented a major milestone in our growth within the MENA region. With over 15,000 attendees from more than 100 countries, the event offered an exceptional opportunity to connect with investors, policymakers, and startup founders who are shaping the future of technology.

"One of the most striking insights from the summit was the rapid growth of MENA's startup ecosystem," he said. The GCC startup market is expected to exceed $100bn in venture capital investments by 2030, with fintech, AI, sustainability, edtech, and health tech emerging as key sectors.

The Startup founder noted that these align closely with the focus areas of the entity. Khalil said "We also observed a strong investor interest in Central Asia. More than 50 venture capital firms expressed curiosity about Uzbekistan's emerging startup landscape, and we held over 10 meetings with MENA investors eager to fund startups from our region. Additionally, we initiated discussions with major VC firms, accelerators, and corporate innovation hubs in Qatar to explore co-investment and market expansion programs."

He accentuated that the expansion into MENA aims to foster cross-regional entrepreneurship opportunities and open up new prospects for Uzbek startups and investors.

"One of our primary goals is to bridge the startup ecosystems of Central Asia and MENA," Khalil remarked.

Uzbekistan's startup ecosystem is growing at a rate of over 20 percent annually. However, gaining access to larger markets remains a challenge. The MENA region, with a digital economy valued at over $3 trillion, offers an ideal opportunity. In 2023 alone, Qatar's startup sector attracted more than $400m. "Over the next three years, we aim to help over 100 Uzbek startups expand into MENA markets," Khalil said.

Meanwhile, access to capital and expertise is another crucial factor. In 2023, the MENA region secured $8.4bn in venture capital funding, and Qatar has pledged over $1bn to startups by 2030. He said, "Through our Startup Garage Founders School and Startup Garage Ventures, we will integrate Uzbek founders into this investment landscape, equipping them with the resources and connections they need to scale."

Additionally, Qatar's advanced tech infrastructure makes it an attractive hub for innovation. Ranked first in the Arab world for technology adoption and second for ease of doing business, Qatar offers a conducive environment for startups through initiatives such as the Qatar Science & Technology Park (QSTP) and Qatar Fintech Hub, which offer tax incentives and funding support.

The Peninsula