Technology

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At a glance

Qatar offers a huge opportunity for investment in the technology sector. The Smart Qatar Program (TASMU) is designed to harness the power of technology and innovation turning Qatar into a smart country and opening new opportunities for the private sector. Qatar is also working hand in hand with multinational companies, such as Microsoft and Google, to accelerate its digital transformation and upscale the technology ecosystem. Qatar is the first country to deploy 5G, with a 99.7% world record of internet penetration, reflecting the great strides the country has undertaken as a forerunner in global digitalisation initiatives.

Home to the world’s

1st commercially available

5G network and two state-of-the-art communication satellites

7.2%

annual growth

of the digital sector through 2023

2.5%

Real GDP growth

ICT sector as of 2021 (PSA, CRA)

Ranked 1st

for internet adoption

globally with ~100% internet penetration rate

What's happening

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Qatar FinTech Hub (QFTH)

Qatar FinTech Hub (QFTH) is dedicated to offer Qatar’s first ever specialised incubator and accelerator programmes, which target entrepreneurs with innovative and cutting-edge fintech ideas. QFTH complements the country’s efforts to develop a robust and globally competitive fintech ecosystem, aligned with the priorities of Qatar National Vision 2030 and Qatar’s Second Strategic Plan for the Financial Sector. As a steward of the Invest Qatar brand, the Investment Promotion Agency Qatar (IPA Qatar) partners with international firms to support their long-term success in fintech and other key sectors.

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QBIC – Digital & Beyond

Digital & Beyond is a specialised incubator dedicated to the development and acceleration of promising technology-focused startups and SMEs based in Qatar, and fast-growing tech businesses looking to soft-land in Qatar. Established by Ooredoo in partnership with Qatar Business Incubation Centre (QBIC), Digital & Beyond aims to empower the next generation of innovative businesses in Qatar, and attract scaling success stories to Qatar, via a holistic range of support and funding solutions.

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Qatar SportsTech (QST)

With over a decade of experience in startup investments and acceleration, Qatar SportsTech aims to accelerate the sports industry to new heights.
Qatar SportsTech is initiated by Qatar Development Bank, powered by Startupbootcamp and supported by the Supreme Committee for Delivery & Legacy, Qatar Stars League, beIN Media Group, Qatar Financial Centre, Aspire Zone Foundation, MBK Holding and the Ministry of Commerce and Industry.

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Web Summit Qatar

The State of Qatar will host Web Summit, the world's largest technology conference, for the very first time in the Middle East and North Africa (MENA). Web Summit Qatar 2024 promises to be a thrilling convergence of technology, innovation and global thought leadership, in the heart of the Middle East.

This inaugural edition is poised to bring together over 7,500 of the brightest minds from the tech world, along with 600+ start-ups and 300+ investors. The event provides a dynamic platform for connecting a new generation of tech entrepreneurs in the Middle East with investors, journalists, customers, partners and more from around the world. It presents an exciting opportunity to further nurture the already rapidly growing tech ecosystem in the region.

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Cybersecurity

The global cybersecurity market is set for significant growth with revenues expected to reach $403 bn by 2027. Cybersecurity has high potential in sectors utilising sensitive information like healthcare, education and the public sector. Qatar has the fastest growth in cybersecurity spending in the Middle East and is projected to have a budget of over $1.64 billion by 2026, offering significant investment opportunities for cybersecurity companies. 

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Cleantech

Cleantech, which refers to methods of reducing the negative environmental impact of conventional technologies, has gained currency across the world on the back of sustainability trends and increased investment in Green energy. The share of renewable energy in total power generation in the MENA region is set to increase by a CAGR of 8%. Qatar government’s policies and futuristic tech infrastructure present a $75bn investment opportunity in the sector by 2030.

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3-D printing

Qatar holds promise for the futuristic sector of 3-D printing that is finding new uses in key industrial sectors worldwide. Aided by a macroeconomic environment infused with strong fundamentals, Qatar provides lucrative opportunities for 3-D printing-related businesses, particularly in sectors such as aerospace, infrastructure, and healthcare. Technological collaborations with institutions like Texas A&M in Qatar, Sidra Medicine, Qatar University, and the like strengthen the market potential for players who wish to invest with the help of State support and national programmes.

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E-commerce

E-Commerce

The popularity of E-commerce in Qatar comes on the back of high internet and mobile penetration rates — two key conditions among many to spur the sector. The advent of digital payment services has added momentum to online transactions, as has the pandemic that made online buying popular. With the fourth highest GDP per capita and a ranking of four on the 5G leadership index, however, Qatar’s E-commerce potential — the highest among the GCC States — still lies untapped. Investment opportunities exist across the E-commerce value chain, with 40 percent of the population under 30 and the highest spending per digital consumer in MENA.

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Who is already here

Qatar technology ecosystem

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Ministry of Communications and Information Technology
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Digital Incubation Center
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Qatar FinTech Hub
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Qatar Free Zones Authority
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Qatar Science and Technology Park

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