Startup Genome & Qatar Development Bank Partner to Grow Startup Ecosystem
Startup Genome and Qatar Development Bank (QDB) announced a collaboration that involves research and cooperation on multiple levels to further support and accelerate the impressive growth of Qatar’s dynamic startup ecosystem.
With more than 100 clients across six continents in 45+ countries to date, Startup Genome is the leading research and policy advisory organization for governments and private institutions committed to advancing their startup ecosystems. Startup Genome’s Global Startup Ecosystem Report (GSER), the world’s most comprehensive and widely-read research on startups, will highlight Qatar’s startup ecosystem in the 2022 edition of the report. QDB’s new partnership with Startup Genome will create more opportunities for local startups to get national and international exposure.
“Qatar has been investing steadily in its entrepreneurs and innovators as an engine of economic growth and sustainable career opportunities for its people,” shares JF Gauthier, Founder and CEO of Startup Genome. “We are delighted to partner with QDB to extend Qatar’s momentum as a rising startup hub.”
Commenting on the significance of this partnership, QDB’s Acting CEO Mr. Abdulrahman Hesham Al Sowaidi said: “This new partnership with Startup Genome is important for QDB to place Qatar on the global map of entrepreneurial ecosystems. It is in line with our strategy of enhancing economic diversification, facilitating growth opportunities, and opening up regional and international markets for the private sector. We are committed to leverage QDB’s distinguished partnerships, such as the one we have with Startup Genome, to enable Qatari entrepreneurs to attract opportunities and expand their footprint internationally”.
QDB has continued to support the development of a robust local entrepreneurial ecosystem to contribute to Qatar’s economic diversification through globally-competitive small and medium enterprises. Owned by the State of Qatar, QDB is headquartered in Doha, stimulating a vibrant and diversified private sector, in order to build a knowledge-based integrated economy and pivot from Qatar’s dependence on the hydrocarbon industry. The bank supports the development of the local private sector through financing solutions, advisory services, entrepreneurial training and mentorship programs to inspire the Qatari youth to innovate and compete in the global market.
ABOUT QATAR DEVELOPMENT BANK (QDB)
Qatar Development Bank (QDB) was established in 1997 as the Qatar Industrial Development Bank, a 100% government-owned developmental organization. Its primary aim was to develop investments within local industries, thereby accelerating growth and economic diversification in Qatar through support for the private sector.
QDB has achieved significant milestones in recent years, playing a chief role in growing Qatar’s private sector. QDB has also played an integral role in stimulating national economic and social development, through funding a variety of local projects and providing support to the private sector through a range of innovative services. By adopting this strategy, QDB has contributed to empowering Qatari entrepreneurs, improving the standard of living, as well as allowing Qatari entrepreneurs to benefit from a wide range of promising investment opportunities, and to develop their exporting potentials while supporting their entry to new international markets.
QDB’s strategy is entirely in line with the Qatar National Vision 2030. It is focused on promoting and facilitating the growth of the private sector in key economic sectors, with the aim of building a diversified, sustainable economy. QDB aims to promote entrepreneurship spirit within the private sector in Qatar by providing the necessary services that shall ease the growth, development, and diversification of this sector. In doing so, QDB offers access to information, incubation, and capabilities to SMEs, in addition to access to capital through direct and indirect financial services, investment and access to local markets, and access to international markets for Qatari exporters through export insurance and funding services.