QFTH zoning in on self-sustainability

17/12/20

Qatar FinTech Hub’s (QFTH) incubator and accelerator programmes were introduced to promote and support early-stage and mature FinTech start-ups and are on track to become financially self-sustainable. The recent launch has been hugely successful and has attracted national and international talent with over 750 applications from 72 countries.

The QFTH which was stablished in calibration with the Qatar FinTech Strategy and under the direction of the Qatar Central Bank (QCB). The QFTH has already entered into 32 national and international partnerships in line with the aim and intention to become an international epicentre and the regional hub for FinTech.

The QFTH has received commitments of QAR 7.75m (USD 2.43m) in terms of sponsorships and QAR 9.3m (USD2.57m) in terms of equity. This has resulted in the near self-sustainability of the programme for the next two years.

It is relevant to point out that the 23 FinTechs in the QFTH are already advanced and have a total valuation of QAR 1.8bn (USD 500m) and have raised about USD 365m (USD 100m) in financing or funding. All of them already have their minimum viable product (MVP) in place and are ready to launch and go to the market.

The programmes are there to help them to become revenue positive organisations. Funding was fine, talent is fine, but the businesses or projects will only survive by generating revenues.

Qatar is establishing itself as a key FinTech destination in the region where there is a lot of competition.

Please click on the link and reach out to learn more about the Qatar FinTech Hub, Qatar’s FinTech Strategy and the policies of the Qatar Central Bank as well as Business Start Up Qatar.

Other News

BSUQ News 54 - Thumb

Qatar welcomes over 2 million visitors in first quarter 2024

Qatars Ministry of Tourism announced the State attracted over 2 million tourists in the first four months of 2024 during the recent Qatar Economic Forum.

The impressive figures were revealed during...

Read more
BSUQ News 53 - Thumb

Qatar continues to focus on economic diversification

Qatar is successfully progressing with its economic diversification plans by targetting four key sectors, namely logistics, Information and Communications Technology (ICT), manufacturing and tourism.

The...

Read more
BSUQ News 52 - Thumb

Qatar's New Real Estate Law Boosts Investment Climate

Qatar's real estate sector is undergoing a transformative phase with the recent issuance of Law No. 5 of 2024 related to real estate registration.

This landmark legislation aims to regulate the sector...

Read more
BSUQ News 51 - Thumb

Qatar Foundation funds over 4,800 projects since 2007

Qatar Foundation (QF) has been leading Qatar’s efforts to diversify the economy and transform the nation into a knowledge based society.

Across the fields of IT, energy, environment and healthcare,...

Read more
BSUQ News 50 - Thumb

Qatar focused on developing the healthcare sector

Qatar`s healthcare sector is expected to increase at a compound annual growth rate (CAGR) of 5.2 percent by 2028 according to data by Fitch Solutions.

Analysts predict such figures based on recently...

Read more
BSUQ News 49 - Thumb

Qatar's gateway for global talent: The Mustaqel Visa

Qatar is set to revolutionise its labour market with the launch of the Mustaqel Visa, a groundbreaking five-year renewable residency permit designed for international entrepreneurs, exceptional talents...

Read more
BSUQ News 48 - Thumb

Qatars 'Young Entrepreneurs Initiative’ empowers students

Qatars ‘Young Entrepreneurs Initiative’ aims to educate its students about leadership skills with the goal of chanelling energies and ideas to serve the society.

The initiative is a combined programme...

Read more
BSUQ News 47 - Thumb

Qatar Scholarship Programme to accept 100 new recipients

Qatar Scholarship Programme recently introduced 100 new scholarships at an event attended by The Education Above All Foundation (EAA) and the General Directorate of Endowments (Awqaf).

The event also...

Read more

Page Break