Open for business: Qatar hopes to become launchpad for tech startups

euronews (in English)

From immersive fashion shows to becoming a launchpad for tech startups, Qatar 365 takes a look at how the country is embracing its future by diversifying its economy.

Transcript

00:00In terms of fashion designers specifically, I do definitely believe that technology is

00:06a tool to help them distribute their ideas and creations globally.

00:10So the goals in Qatar are shared by organizations across the ecosystem.

00:15By 2030, we'd like $100 billion in foreign direct investment.

00:18It's an ambitious target, but I think we're up to it.

00:22Hello, welcome to Qatar 365 with me, Adil Halim.

00:27On this episode, we look at how technology is changing the game in business and fashion.

00:33Laila Humaira visits Qatar's leading tech hub, driving innovation by supporting startups.

00:39But first, I'm at M7 in Masharab for the TEFA Conference, which stands for Technology, Education,

00:45Finance, Fashion, and Art, to see how fashion meets tech.

00:51Could this be the future of fashion?

00:53Augmented reality runway shows.

00:56Artisanal artist Ramiro Alban uses AR technology to create multidimensional experiences, so

01:02art is not just observed, but experienced.

01:26For the runway show, Ramiro collaborated with renowned fashion designer Debra Sawaf's

01:39The Power of Words by interpreting the brand's seven spirit animals and bringing them to life.

01:45I'm hoping that through fashion, we can create change.

01:49Part of that change also involved organizing a workshop around The Power of Words' mission

01:55to raise mental health awareness and empowerment.

01:59What we did is create a program where people can actually understand the emotions of each

02:04other because it's seven words and seven emotions, and you use the emotions in both ways.

02:10You express your emotion or you ask for an emotion.

02:14So you can be reminding yourself to be compassionate or you can be asking for compassion.

02:20The brand also partnered with Los Angeles-based digital artist Logic on a live painting exercise.

02:26The former creative director at Google says he aspires to inspire.

02:31This particular piece is featuring my two characters called Good and Evil, G-U-D and

02:36Evil E-V-O-L, which is like love backwards.

02:39Both of these entities both harbor the halo and the horn.

02:43The reason why I do that is because no one is totally one thing, no one is totally good,

02:47no one is totally evil.

02:49Artistic freedom was a major theme of the three-day TEFA conference hosted by the Doha

02:54Design District, an innovation hub supporting creatives in downtown Mesherab.

03:02Then there's also art and how technology is impacting art and how it's changing the landscape

03:08for artists and artwork alike, especially with the use of NFT, which protects the IP

03:13rights for the artists.

03:14So it's a very important step for creatives.

03:18One of the highlights of this year's TEFA event is the Middle East's first ever Fashathon,

03:22which is a hackathon for fashion.

03:25It's a way for designers to use AI to create their own 3-D fashion pieces, either from

03:30existing templates or by using their own imported designs.

03:35Nitin Sharma believes fashion is an old and outdated industry that has not yet been disrupted.

03:41So he co-founded a tech company with the hopes of democratizing digital fashion.

03:46Fashathon is designers who want to showcase their creations, who want to contribute their

03:52templates to earn royalties, and it is aspiring non-fashion designers who are creating templates

03:58using artificial intelligence.

04:00That said, these people have never been trained formally in fashion, but they are creative

04:04people and now with artificial intelligence coming, they kind of become a fashion designer.

04:08Back on the runway, Ramiro believes adding tech to art can bring even more people and

04:14groups together.

04:15I think art is what communicates to the whole world.

04:18It's the universal language.

04:19I don't speak English, but my art conveys everything.

04:26As Qatar positions itself as a regional hub for innovation, the country is making significant

04:30investments to reshape and diversify its economic landscape.

04:34I got a chance to sit down with Invest Qatar's Fahad Al Khawari to learn more about the Investment

04:39Promotion Agency's initiatives to spearhead entrepreneurship and innovation within the region.

04:46Fahad, earlier this year, the country's tech sector took center stage at Web Summit Qatar.

04:52That was when the $1 billion investment was announced, revolutionizing the startup ecosystem.

04:58How significant was that moment to say Qatar is open for business?

05:02What it signaled was our seriousness about the whole tech sector.

05:06We've always been digitizing our economy for the past 10 to 15 years.

05:11We've been doing that with foreign corporations as partners.

05:14We've been serviced by them, and we have serviced them in order to do so.

05:17Microsoft has been a big partner, and there's been other large partners as well.

05:20But what we've done here is we've opened up the space for small to medium-sized enterprises

05:25to actually participate in our digitization.

05:27The best way to do that is to incentivize them.

05:30Startup Qatar offers $500,000 for startups that want to commence their journey in Qatar,

05:37and then up to $5 million for those that want to scale up using Qatar.

05:40And all that signals is that we're serious about all sizes of companies,

05:44and we're very serious about digitizing our own economy.

05:46You just mentioned Microsoft.

05:48Google and Tesla have also recently opened operations here in Qatar.

05:52What does that tell you about the country becoming the tech hub of the Middle East?

05:56So I think rather than look at it as us becoming a tech hub,

06:00I think what you should look at is how responsive we are to change.

06:03Because for companies like Google, Microsoft, and Tesla to land anywhere, not only Qatar,

06:09you need to have laws concerning data that are up-to-date,

06:13that protect the data of the consumer but also help the business grow.

06:19Tesla themselves will tell you that they're a data company rather than they are an automotive company.

06:24So hopefully what the presence of these big companies signals is our seriousness

06:28to make sure that the landing is safe and that it's sustainable.

06:31Because we're after long-term partnerships.

06:34We're not after short-term stays.

06:36Now you're taking that message on the road.

06:37I caught up with you in Toronto at Collision 2024.

06:40What's the message you're trying to convey to businesses looking to put their footprint in the region?

06:44The message is that we're open for business.

06:46The best we can do is convey what the value proposition is,

06:49tell them what opportunities are available, showcase our incumbent market,

06:53but also it's important to have a regional view when you do business in this region.

06:57The MENA region comprises of over 20 countries.

07:00There's around $8.5 trillion in combined GDP within six hours flying time.

07:05So Southeast Asia, North Africa, Central Asia and so on.

07:08And all we're doing is we're facilitating access to these markets through Qatar.

07:13That's the end goal.

07:14Also at Collision you mentioned there's 300,000 locals approximately

07:18with the infrastructure for 5 million people.

07:21So how do you hope to meet that goal?

07:22So as a result of the last decade of building the country and the World Cup,

07:26we have an infrastructure that can house around 5 million people,

07:29just over 300,000 locals and just over 2 million in terms of population total.

07:33So we could double in size tomorrow.

07:35The way we want to do that is to fill the rest of the infrastructure with the right kind of talent

07:39so that we create ecosystems that function on their own

07:43and then hopefully what that does is it contributes to a knowledge-based economy

07:47and it also hopefully inspires our own to disrupt and create their own startups and compete.

07:55Now one of the entities Invest Qatar is collaborating with

07:58is the Qatar Science and Technology Park,

08:00the tech hub that is leading the country's economic diversification through innovation.

08:05QSTP provides a launchpad for startups aspiring to take their product from idea to reality.

08:11Laila Humaira takes a closer look at how that strong support

08:15is giving wings for one company to fly high.

08:20This is what it feels like to walk through an airport

08:24that's been voted one of the best in the world.

08:27Everything just runs so seamlessly at Qatar's Hamad International Airport.

08:32But behind all the systems working as they should is an AI-powered machine.

08:38One of the pioneers of this application is a software developed by Emma Systems.

08:44One of the biggest liabilities for the airline industry is flight delays,

08:49which costs an estimated $33 billion a year.

08:52By using algorithms and real-time data,

08:55Emma Systems is helping to reduce that cost by optimising efficiency and enhancing safety.

09:01Beyond adding this level of complete visibility

09:04across all the people on the ground and the air traffic control,

09:07we also add a level of predictability through machine learning and AI to certain elements

09:11like trying to help the decision makers on the ground at the airport

09:15better foresee what could possibly happen.

09:18From innovation programmes to a tech incubation centre to direct funding,

09:23the support from QSTP has helped Emma Systems develop its AI-powered platform

09:28to ensure the smooth running of airports all over Europe.

09:33Startups like Emma Systems is just one of many companies incubated at QSTP,

09:38headed by Dr Jed Lau, who wants to go further than just providing a launchpad.

09:43In the new era, of course we do have the funding opportunities,

09:47but it's more important that you actually sit down with the aspiring occupants of this QSTP

09:54and find out what you can offer them.

09:57Emma Systems has attracted the attention of venture capital firm Golden Gate Ventures.

10:02Founded by Silicon Valley natives,

10:04the firm launched Qatar's first international VC fund in May.

10:08It is going to be impactful for founders that we are going to be backing and investing in.

10:13We're going to be supporting the ecosystem with, of course, the other local VCs on the ground.

10:18We are going to be doing events for the startup community.

10:20The $100 million MinaOne fund is backed by major Qatari investors,

10:26including Alcor Holding, Alatia Group and Qatar Financial Centre.

10:31If you look at Qatar itself, it has come a very long way in terms of being hospitable

10:35to venture firms like ourselves, but also to founders, to the fintech community.

10:41And then I think a very supportive ecosystem in terms of the government.

10:442024 is proving to be a landmark year for Qatar's startup scene,

10:49with more VC players entering the field, like Qatari VC firm Rasmal Ventures,

10:54which also revealed its first homegrown $100 million fund.

10:59We're seeing more and more creative and innovators that are daring to think differently

11:07and wanting to be part of creating things from scratch from their home ground.

11:11And while it's still early days for Qatar's startup industry,

11:15stronger collaboration and strategic partnerships are the fuel that will help boost growth.

11:21Venture capital is a proximity profession.

11:24And so when we see people seeing the strategic value of Qatar,

11:27we can only be smart money for them and excited to help,

11:30excited to open doors in Qatar and in the region and rise all of us together.

11:35From hosting innovative fashion shows to becoming a launchpad for tech startups,

11:40it's clear Qatar is prioritizing its investments by embracing its future and diversifying its economy.

11:46Now that's all the time we have for now, but we hope you enjoyed this episode.

11:49For more, check out euronews.com and connect with us through our hashtag.

11:52Thanks for watching and we'll see you next time on Qatar 365.

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