(MENAFN- The Peninsula) Joel Johnson |
The Peninsula
Doha, Qatar: Qatar-Ukraine Business Forum (QUBF) fosters trade and bilateral ties between the two nations across diverse sectors including tech and innovation.
In line with Qatar's strategic priorities and global trends, the Business Council strives toward the country's vision to become a world hub in realms such as tech and innovation.
In an interview with The Peninsula, Dr Olga Revina, Chairperson of QUBF remarked on Ukraine's participation and commitment to the Qatari market, which helps in diversifying the country's economy.
During the recently held Web-Summit Qatar 2024, the QUBF hosted 10 Ukrainian startups to participate and gain insights. The Summit which attracted over 15,000 attendees across 118 countries witnessed insightful sessions, thought-provoking discussions, and an indispensable platform for startups from around the world to meet partners, clients, and investors.
Dr Revina said“QUBF selected Ukrainian startups from diverse sectors to take part in the first Web-Summit Qatar in collaboration and with the support of the Qatar Government Communications Office (GCO), and the Ukrainian partners, such as Ukrainian Startup Fund, UNIT, and the Ministry of Digital Transformation of Ukraine to explore opportunities offered by Qatar's startup ecosystem.”
Amidst the difficult situation in the country, Ukraine is determined to create an outstanding startup ecosystem that is both scalable and global, said the official.
She said:“This attests to the country's talented and resilient workforce” adding that the primary reason for Ukraine's success is its talent pool which approaches a total of 200,000 software developers. The strategy of the Ukrainian Startup Fund is focused on supporting early-stage startups through funding and promoting access to support services, as well as solidifying globally competitive incubation and acceleration programs.
“We as QUBF Founders were very confident in organizing this trip because we believe that Ukrainians have a lot to offer and to contribute', Dr Olga added.
She lauded Qatar's efforts in enhancing a vibrant startup ecosystem to welcome international startups and scale-ups to establish themselves in the country to serve the region and beyond.
Among the latest announcements unveiled during the Web Summit that attracted the attention of the Ukrainian delegates was the Startup Qatar Investment Program, which attracts tech startups to establish or expand operations in Qatar as the launch pad for the region.
The program also offers funding for both seed and growth-stage companies, alongside various incentives and subsidies. Qatar Investment Authority (QIA) is also set to launch Qatar's first venture capital (VC) $1bn Fund of Funds to invest in international and regional VCs, enabling startups to get access to funding and scale operations to expand their market presence in Qatar, across the GCC, and internationally.
“The whole Ukrainian delegation had very productive days at the Web Summit with meetings held with all key stakeholders such as QSTP, QRDI, and Invest Qatar, Dr Revina said.
She stressed that for next year's Web Summit edition, QUBF plans to organise a nationwide competition early on to select the best startups to represent Ukraine and also plans to host a Ukrainian pavilion for greater visibility.
“We firmly believe in the immense collaborative potential that exists between Qatar and Ukraine, two nations marked by their innovation,” she added.
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