Qatar PM Launches Web Summit With US$3 Trillion Innovation Focus

Qatar’s Prime Minister and Minister of Foreign Affairs, HE Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, has inaugurated the third edition of Web Summit Qatar, reinforcing the country’s ambition to play a central role in shaping the future of global technology and innovation.

The summit, which runs until 4 February at the Doha Exhibition and Convention Center, has quickly become one of the region’s most prominent technology gatherings. In his keynote address, the Prime Minister positioned Qatar as an active participant in global innovation, emphasising international collaboration and long-term investment in technology and startups.

“We meet at a moment when innovation is the world’s most valuable currency,” he said, adding: “In Qatar, we do not want to simply watch the future arrive. We want to shape it, alongside partners from around the world.”

Reflecting on the summit’s rapid rise, the Prime Minister noted that Web Summit Qatar has, in just two years, established itself as a key reference point for the global technology community. He described the pace of innovation as unprecedented, highlighting that global research and development spending is nearing US$3 trillion annually, while AI startups attracted roughly one-third of global venture capital investment in 2024.

He also drew attention to the scale of digital participation worldwide, with nearly six billion people now online, including around 1.2 billion young people aged between 15 and 24. He said this demographic shift underlines the urgency of building skills across technology, finance and entrepreneurship.

Against this backdrop, the Prime Minister announced the launch of ‘QAI’, Qatar’s national artificial intelligence company. He said the initiative will deliver sovereign AI infrastructure and software systems, strengthening Qatar’s capabilities while supporting partners internationally.

Highlighting Qatar’s competitive advantages, he pointed to the country’s global connectivity and infrastructure. “Physically, we are linked to the world through our award-winning airline and airport. Digitally, our subsea cables and high-performance computing power provide the low-latency infrastructure that artificial intelligence demands. Financially, we offer a safe, tax-efficient harbor where capital can scale,” he said.

The Prime Minister also unveiled a significant expansion of Qatar’s support for startups and venture capital. The Fund of Funds programme, launched by the Qatar Investment Authority with an initial US$1 billion commitment, will be expanded by an additional US$2 billion, following the anchoring of 12 major venture capital firms in Doha.

“We are pairing capital with technical power,” he said, announcing new computing credits for Qatar-based startups, alongside an eightfold increase in startup incentives. He also confirmed the extension of Qatar Development Bank’s ‘Start from Qatar’ programme through 2026 and the launch of a 10-year residency scheme for entrepreneurs and investors.

“We invite you to put down roots and grow alongside a nation that invests in your future,” he added.