Doha, February 01 (QNA) - HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani inaugurated today the third edition of Web Summit Qatar, the fastest-growing technology event in the Middle East and North Africa, which runs until February 4 at the Doha Exhibition and Convention Center (DECC).

The opening ceremony was attended by a lineup of Their Excellencies ministers and senior officials, alongside global innovators, decision-makers, investors, and technology leaders from around the world.

In his keynote address, HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani affirmed Qatar's commitment to playing an active role in shaping the future of global innovation by strengthening international partnerships and supporting the technology ecosystem and startup community.

"We meet at a moment when innovation is the world's most valuable currency," HE the Prime Minister said. "In Qatar, we do not want to simply watch the future arrive. We want to shape it, alongside partners from around the world."

He noted that in just two years, Web Summit Qatar has firmly established itself as a reference point for the global technology community, driving conversations, partnerships, and investment priorities for the year ahead. "The momentum is extraordinary," he added.

HE the Prime Minister highlighted the accelerating pace of global innovation, pointing out that worldwide research and development spending is approaching USD 3 trillion annually, while AI startups captured around one-third of global venture capital investment in 2024. He also noted that nearly six billion people are now online, including 1.2 billion young people aged between 15 and 24, underscoring the importance of building capabilities in areas ranging from coding to finance.

In this context, HE announced the launch of 'QAI', Qatar's national artificial intelligence company, explaining that it will deliver sovereign AI infrastructure and software systems to strengthen Qatar's capabilities and support partners worldwide, ensuring sustained innovation.

Highlighting Qatar's competitive advantages, HE the Prime Minister said the country offers exceptional global connectivity. "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 further announced a major expansion of Qatar's support for startups and venture capital, revealing the extension of the Fund of Funds program launched by the Qatar Investment Authority. Building on the initial USD 1 billion commitment-which has already anchored 12 major venture capital firms in Doha-the program will be expanded by an additional USD 2 billion.

"We are pairing capital with technical power," HE said, announcing the provision of dedicated computing credits for Qatar-based startups to accelerate growth. He also revealed an eightfold increase in startup incentives, following a year in which startup registrations in Qatar doubled and applications exceeded 6,000.

Additionally, HE the Prime Minister announced the extension of Qatar Development Bank's 'Start from Qatar' program through 2026, alongside the launch of a 10-year residency program for entrepreneurs, founders, investors, and senior executives.

"We invite you to put down roots and grow alongside a nation that invests in your future," he said. He also emphasized improvements in operational speed, noting that founders registering during Web Summit Qatar can now complete company formation, banking, and residency procedures within a matter of days.

Concluding his remarks, HE the Prime Minister said: "The future belongs to those who build together with openness and trust-to those who choose to invest, create, and grow with us. I look forward to what we will achieve together. Thank you, and welcome to Qatar."

For his part, Founder and CEO of Web Summit, Paddy Cosgrave said the event has become one of the most influential platforms shaping the global technology landscape, noting that the world's technological center of gravity has begun to shift markedly over the past three years.

"Three years ago, we spoke about the possibility of a multipolar world," Cosgrave said. "Today, that reality appears to be firmly established."

He revealed that Web Summit Qatar 2026 brings together participants from more than 120 countries, including India, Singapore, China, Poland, Nigeria, and Palestine, in addition to hosting official trade delegations seeking to forge new partnerships and future alliances.

Cosgrave added that the summit features around 1,600 startups showcasing their innovations over three days, with 85 percent coming from outside Qatar, reflecting the country's growing global role in the technology sector. Despite recent challenges facing venture capital markets, investor interest continues to rise, with the number of participating investors increasing by 27 percent this year to nearly 1,000.

The opening evening featured introductory sessions followed by the summit's evening program, which included a series of networking events and social activities that fostered professional connections in a dynamic and interactive atmosphere, ahead of the launch of specialized sessions in the following days.

Over the next three days, Web Summit Qatar 2026 will host a comprehensive program spanning more than 14 thematic tracks, featuring panel discussions, workshops, and interactive dialogues with global leaders, experts, and entrepreneurs. Topics include artificial intelligence, fintech, the digital economy, energy, digital health, e-government, media and creative technologies, entrepreneurship, and startup growth-cementing the summit's status as a global platform for knowledge exchange, foresight, and cross-border strategic partnerships.

This year's edition brings together more than 30,000 participants from 124 countries, over 1,600 startups, 800+ investors, 400+ speakers, and 180+ partners, alongside extensive international media coverage with participation from more than 600 journalists worldwide. (QNA)