Narrating story of one investor who was participating in BIT’24 Doha Qatar. His experience had been exhilarating. “Arrangements were meticulously orchestrated by Ravi Tharoor and his Khaleej Times team. Bicky Carlra and his WeValue Consulting team also contributed. They received support from investors at growX ventures, MENA FINTECH ASSOCIATION McKinsey & Company, The Founders Majlis 237 Ventures and several others” said by Sidd Gandhi the investor narrating his experience.
Event brought together innovators, thought-leaders and entrepreneurs from around region and world. It immersed participants into dynamic environment. This showcased potential of Qatari market. Participation of Qatar Central Bank Qatar Financial Centre (QFC) Authority and DOHA BANK further underscored significance of this gathering.
Vital Role of Venture Capital in Driving Innovation and Growth
The investor who reflects back on event through his post had moderated panel on topic that is often underappreciated and misunderstood from outside – ‘Vital Role of Venture Capital in Driving Innovation and Growth’ Joining him were distinguished investors Peter Schatzberg Awdesh Chetal, Karan Teckchandani and Sunil Sharma Each brought wealth of experience across various stages of investments and categories The panel turned out to be real blast Thanks to their practical insights
One of key takeaways from their discussion was importance of learning from global startup ecosystems like Silicon Valley Europe, China and India “We need to learn from both successes and mistakes of these regions” I emphasized during panel “MENA region should play to its strengths It should focus on creating real businesses that generate jobs revenues, profits and exits for everyone involved”
Capital and Ecosystem Development
The panel also highlighted availability of capital across all stages. This includes top-tier investments and early-stage funding. However ecosystem in MENA is still nascent. There exists a critical need to support first-time entrepreneurs who may not have succeeded initially. “We must create ecosystem that supports smart second and third-time entrepreneurs. They have both local and international know-how,” investor remarked. “Building with long-term approach is essential for sustainable growth” he added
Fintech and Economic Growth
McKinsey’s research provided compelling evidence of region’s potential. It showed that MENA’s fintech startups have highest growth rate in revenue contribution to overall financial services compared to rest of world. “This is clear indication that new economies and startups will continue to create real GDP value” noted investor.
Cross-Border Collaboration
Cross-border collaboration emerged as notable strength of MENA region. This was driven by influx of entrepreneurial talent. “This should catalyze next wave of entrepreneurs building from region for world” investor stated. “Through our portfolio of B2B, Deeptech and emerging tech investments we have been committed to cross-border collaboration for several years”
Startups Pitching to Doha Bank
The Investor expressed second day of BIT’24 as even more exciting and personally satisfying. Fourteen selected startups from 88 applicants pitched to Doha Bank executives for potential POCs and collaborations in bank’s transformation agenda. “Hopefully this will result in many joint value creation opportunities” he reflected
Overall BIT’24 Doha was incredible event that highlighted strengths and opportunities within Qatar startup ecosystem. Insights and collaborations fostered here will undoubtedly contribute to region’s growth and innovation
For more details on the coverage of the entire event, visit KT Events [here]().
The article was edited from the investor’s linkedin page post
Vasilii Zakharov
I believe that BIT’24 Doha has become a significant event for Qatar’s startup ecosystem. The event, organized by a team led by Ravi Tarur and Biki Karlra, brought together leading innovators, investors and entrepreneurs, creating a dynamic environment for the exchange of ideas and cooperation. The participation of organizations such as Qatar Central Bank and Doha Bank highlights the importance of this event for the region.
The panel discussion on the role of venture capital in stimulating innovation and growth was particularly impressive, where important lessons from global startup ecosystems and the need to support local entrepreneurs were discussed. The importance of cross-border cooperation and the potential of fintech startups in MENA were also highlighted.
BIT’24 Doha has demonstrated tremendous opportunities for growth and innovation in Qatar, and I am confident that this event will be a catalyst for further development of the region’s startup ecosystem.