Doha, December 1 (QNA) - The Ministry of Communications and Information Technology (MCIT) has signed a Memorandum of Understanding with Alchemist Doha, the local branch of the global Alchemist Accelerator, which specializes in supporting business-to-business (B2B) startups.
This partnership aims to enhance Qatar's innovation and entrepreneurship ecosystem, attract high-growth technology companies, and further reinforce Qatar's efforts to build a knowledge-based, innovation-driven digital economy.
This agreement establishes a strategic partnership between MCIT and Alchemist, opening global investment pathways for local startups and providing an attractive environment for international technology companies seeking regional expansion.
The collaboration supports Qatar's national ambitions to advance digital transformation, diversify the economy, and strengthen the country's competitiveness within the global technology and innovation landscape.
The MoU was signed by Director of Digital Innovation at MCIT, Eman Al Kuwari and CEO and founder of Alchemist Accelerator, Ravi Belani.
Commenting on the agreement, Eman Al Kuwari affirmed that: "This partnership reflects Qatar's commitment to building a thriving digital economy powered by innovation, talent, and global collaboration. By attracting high-growth technology companies, we are creating new opportunities for local startups, strengthening our innovation ecosystem, and accelerating progress toward the goals of Digital Agenda 2030."
Under the MoU, the Ministry will support the attraction and relocation of 12 high-growth technology startups from within the Alchemist network to Qatar. MCIT will provide the required facilitation and support, including the allocation of five co-working spaces annually at the Digital Incubation Center, and will coordinate with the government entities to enable these companies to deploy their innovative digital solutions.
Meanwhile, Alchemist will assume full financial responsibility for the operational requirements of these startups. Extending over three years and renewable thereafter, the MoU establishes a framework for joint governance that defines clear coordination mechanisms and responsibilities for both parties, ensuring effective collaboration and the achievement of shared objectives. T
he agreement is part of the Ministry's ongoing efforts to strengthen Qatar's digital entrepreneurship landscape and foster a dynamic, future-ready innovation ecosystem. (QNA)