Hi friends! Some insights from the first Web Summit in Qatar 🇶🇦
Oleg Shumar
3 replies
🌟 Less movement, more focus. Yes, there were only about 7k attendees compared to 70k in Lisbon, at the same time, the event's atmosphere was well-structured and organized, allowing enough time for everything planned.
🤝 Concentration of investors. Literally, I've never seen such a concentration of private equity, investors, and holding representatives like there. A perfect place for startups to connect with Middle East funds.
✅️ I've seen so many times there, when they say: "We want this project to be here." We also got a couple of interesting offers here and are now negotiating those.
📈 Qatar, UAE, Saudi Arabia have tech deeply incorporated into their long-term strategies. They invest and do M&A in the tech sector because that's their strategy. Combined with huge resources, it's a perfect opportunity for funding and growth support. I know a company that got a deal for $500k just in the first days of the summit, absolutely quickly.
🔍 Focus areas. Most startups presented were in the AI field, then Fintech, Healthcare, and Ecology/Green Energy. Too few projects from Europe and America. For instance, seems like we were the only with an Austrian flag 🇦🇹 on our stand during the three days of the summit.
Generally, I believe the MENA region is highly underestimated by European tech companies, unlike Turkish, African, Kazakh ones. My company has strategic interests there, and I really recommend learning more about the opportunities the region can bring.
💬 Product feedback. Want to check your product-market fit? Come here. We got an absolutely amazing experience with global companies' representatives who tried our product there. This region attracts a lot of non-tech businesses, and those are your clients if you're in tech!
☀️ Atmosphere: I've always recommended Dubai as a must-go destination for new thoughts and motivation.
Now, Doha is another city on my list!
Not as fast-paced as Dubai, at the same time, also with great atmosphere, breathtaking views, cleanliness, security. Web Summit (in cooperation with the government, I believe?) gave us a complimentary 5-star 🏖 spa hotel suite with 5 rooms, just for a single person, as part of a startup program attendee - and in this small detail, you can see the strategy to motivate people to visit the event there.
💯 If you've never been to Doha - just go there; you'll discover a new world, literally!
🗓 Missed Web Summit? Learn about a great opportunity here, LEAP 2024 in Saudi Arabia: https://onegiantleap.com/, thanks to my friend from the 🇺🇦 Ukrainian community who recommended this one!
Let's share your thoughts about this and next events? For instance, Web Summit Rio 🇧🇷 should also be nice. Going there?
👋 Let's keep in touch, friends! Always open to jump on a Zoom call to discuss new opportunities or just stories from life :)
#Qatar #Doha #websummit #startups
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Chemical Bull@chemical_bull
I'm glad you shared that with me. It's something I was curious about.
https://www.chemicalbull.com/pro...
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Amazing Summary! Thanks Oleg
Let me clarify that Web Summit debut in Qatar 2024 exceeded all expectations with an impressive turnout of 15,453 attendees—not just 7K—including a diverse array of founders, investors, and tech enthusiasts from around the world.
The Web Summit in Qatar appears to have been a highly impactful and well-organized event, despite its smaller scale compared to the Lisbon edition. The more intimate setting seems to have fostered deeper connections and provided ample opportunities for focused networking and meaningful interactions.
The most distinguished achievements are:
* Attendees from 81 countries
* 380 speakers (30% women speakers)
* 1,000-plus startups (31% women-founded startups)
* Total attendees 15,453 (37% women attendees)
* 896 members of the local & global media
* 400 investors participated
The world's tech giants 148 in number like Microsoft, Meta, TikTok, and Snap etc gathered in Doha to make new business ventures.
Key Takeaways:
[ a ] Focused Atmosphere:
The smaller attendee size of about 15.5k compared to 70k in Lisbon allowed for a more structured and organized event, ensuring that participants had sufficient time to engage in planned activities and make the most of the summit.
[ b ] Investor Concentration:
The high concentration of private equity investors, holding representatives, and other funding entities was remarkable. This environment proved to be extremely beneficial for startups seeking to connect with Middle East funds. The sentiment, "We want this project to be here," was echoed frequently, indicating a strong interest in fostering local projects and innovation.
[ c ] Strategic Tech Investment:
The MENA region, particularly Qatar, UAE, and Saudi Arabia, has deeply incorporated tech into their long-term strategies. With substantial resources, these countries are actively investing in and acquiring tech companies, presenting a fertile ground for funding and growth. The example of a company securing a $500k deal within the first days of the summit highlights the region's potential.
[ d ] Focus Areas:
AI, Fintech, Healthcare, and Ecology/Green Energy were the predominant sectors showcased. The relatively low presence of European and American projects suggests an underestimation of the MENA region by these markets, contrasted with active participation from Turkish, African, and Kazakh startups.
[ e ] Product Feedback:
The summit provided an excellent opportunity to test product-market fit, with valuable feedback from global company representatives. The diverse attendee base, including non-tech businesses like gold & jewelry (https://goldprice.qa/doha/), offers tech companies a unique client base.
[ f ] Atmosphere and Experience:
Doha emerged as a city worth visiting for its motivating and inspirational environment, cleanliness, security, and stunning views. The provision of luxurious accommodations as part of the startup program attendee package underscores the strategic effort to attract and motivate participants.
Recommendations:
(1) Explore the MENA Region:
European tech companies should seriously consider exploring opportunities in the MENA region, which offers substantial resources and a strategic focus on tech.
(2) Attend Future Events:
Missing the Web Summit? Plan to attend LEAP 2024 in Saudi Arabia. It promises to be another significant event for connecting with potential investors and exploring new opportunities.
(3) Engage with the Community:
Keep the conversation going with peers and potential partners. Sharing experiences and opportunities can lead to fruitful collaborations and insights.
Conclusion:
The Web Summit in Qatar has proven to be a highly beneficial event, especially for startups looking to connect with investors and explore growth opportunities in the MENA region. With its strategic importance and supportive environment, Doha is quickly becoming a key destination for tech innovation and investment.