Innovators Converge in Qatar: Insights from BIT’24 Doha

3 mn read

Narrating the story of one of the investors who was participating in BIT’24 Doha, Qatar. His experience had been an exhilarating one and describing the arragements as meticulously orchestrated by Ravi Tharoor and his Khaleej Times team, Bicky Carlra and his WeValue Consulting team, and supported by the investors at growX ventures, MENA FINTECH ASSOCIATION, McKinsey & Company, The Founders Majlis, 237 Ventures, and several others. 

Innovators Converge in Qatar: Insights from BIT'24 Doha
#image_title

The event brought together innovators, thought-leaders, and entrepreneurs from around the region and the world, immersing the participants into a dynamic environment that showcased the potential of the Qatari market. The participation of Qatar Central Bank, Qatar Financial Centre (QFC) Authority, and DOHA BANK further underscored the significance of this gathering.

The Vital Role of Venture Capital in Driving Innovation and Growth

The investor who is reflecting back on the event through his post had moderated a panel on a topic that is often underappreciated and misunderstood from the outside – ‘The 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 bringing a wealth of experience across various stages of investments and categories. The panel turned out to be a real blast, thanks to their practical insights.

One of the key takeaways from their discussion was the importance of learning from global startup ecosystems like Silicon Valley, Europe, China, and India. “We need to learn from both the successes and the mistakes of these regions,” I emphasized during the panel. “The MENA region should play to its strengths, focusing on creating real businesses that generate jobs, revenues, profits, and exits for everyone involved.”

Capital and Ecosystem Development

The panel also highlighted the availability of capital across all stages, from top-tier investments to early-stage funding. However, the ecosystem in MENA is still nascent, and there is a critical need to support first-time entrepreneurs who may not have succeeded initially. “We must create an ecosystem that supports smart second and third-time entrepreneurs who have both local and international know-how,” the investor remarked. “Building with a long-term approach is essential for sustainable growth,” he added.

Fintech and Economic Growth

McKinsey’s research provided compelling evidence of the region’s potential, showing that MENA’s fintech startups have the highest growth rate in revenue contribution to overall financial services compared to the rest of the world. “This is a clear indication that new economies and startups will continue to create real GDP value,” the investor noted.

Cross-Border Collaboration

Cross-border collaboration emerged as a notable strength of the MENA region, driven by the influx of entrepreneurial talent. “This should catalyze the next wave of entrepreneurs building from the region for the world,” the 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 the second day of BIT’24 as even more exciting and personally satisfying. Fourteen selected startups from the 88 applicants pitched to Doha Bank executives for potential POCs and collaborations in the bank’s transformation agenda. “Hopefully, this will result in many joint value creation opportunities,” he reflected.

Overall, BIT’24 Doha was an incredible event that highlighted the strengths and opportunities within the Qatar startup ecosystem. The insights and collaborations fostered here will undoubtedly contribute to the region’s growth and innovation.

For more details on the coverage of the entire event, visit KT Events [here](https://lnkd.in/gSBdt-kR).

The article was edited from the investor’s linkedin page post (2) Sidd Gandhi | LinkedIn

One thought on

Innovators Converge in Qatar: Insights from BIT’24 Doha

  • 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.

Leave a Reply

Your chance to share your opinion and argue in the comments

Learn more about Crunch/Dubai

Crunch Dubai is a community-orientated media portal. We find cool stories. Experts and entrepreneurs write their stories on our platform.

Learn latest Tech and Business news in home town

Crunch Dubai is a hyperlocal media portal. Real people, real business, real stories

Become an expert

If you want to promote your expertise, reach out to [email protected]