Doha: Qatar Fintech Hub (QFTH), supported by Qatar Development Bank (QDB), successfully concluded its 7th wave Demo Day, marking the graduation of fintech companies from its "Pre-Acceleration" and "Acceleration" programs.
According to Qatar News Agency, the event was attended by representatives from regulators, business ecosystem partners, and a select group of investors, financial sector leaders, and entrepreneurs. During the event, QDB, represented by QFTH, announced the "Fintech Development Grant" provided by the Qatar Central Bank (QCB) and the launch of the new model of the "Pre-seed Investment Program."
Held under the theme "Fintech Transformed: From Vision to Impact," the event highlighted the ongoing advancement of Qatar's financial ecosystem. The largest edition to date, it featured presentations from 20 startups enrolled in the "Pre-Acceleration" and "Acceleration" programs, showcasing their development after weeks of rigorous training and mentorship. These startups focused on areas including Open Banking, Crowdfunding, InsurTech, and Emerging Tech, aligning with Qatar's National FinTech Strategy and the Third Financial Sector Strategic Plan.
The "Fintech Development Grant" will provide co-fundings of up to QAR 1.5 million per company, aimed at enhancing technical and regulatory readiness, supporting product development, and facilitating market entry.
QDB also introduced the updated "Pre-seed Investment Program," increasing direct investment funding to QAR 730,000 (USD 200,000) per company. This is complemented by support services and packages, particularly the "Talent Community Program," which aims to attract specialized talent to Qatar.
Additionally, QFTH announced a new "Lab Model" to streamline product development and regulatory processes, enabling quicker transitions to testing environments and licensing. Discussion sessions with companies will be held to understand and address their needs through an integrated support ecosystem.
The successful conclusion of this wave is a testament to QDB's commitment to fostering innovation in the fintech sector. Through QFTH, QDB has graduated seven waves of fintech companies and supported the sector with investments and financing exceeding QAR 73 million, bolstering Qatar's position as a regional fintech hub in collaboration with regulators and financial institutions.