04-03-2025
Qatar Development Bank and Rasmal Ventures sign cooperation agreement to promote innovation and entrepreneurship in Qatar
Doha, Qatar: Qatar Development Bank has signed a cooperation agreement with Rasmal Ventures on the sidelines of Web Summit Qatar 2025. The partnership is aimed at bolstering Qatar's entrepreneurial ecosystem by supporting innovation, attracting global talent, and fostering local and regional growth opportunities for startups. Through this collaboration, the two parties seek to strengthen Qatar's position as a global entrepreneurship hub, which will contribute to attracting top talent and empowering startups to access new regional and global markets.
The partnership focuses on supporting entrepreneurs and fostering innovation in Qatar by leveraging QDB's Talent Community Program with Rasmal Ventures joining as an official partner of the program which was designed to nurture a dynamic and diverse entrepreneurial ecosystem.
The partnership will enhance Qatar's ability to attract global talent and innovators, offering a supportive environment for the growth of high-growth companies. The two organizations will also collaborate to exchange information on promising investment opportunities and foster cooperation in joint investment initiatives to enable startups to access the necessary resources and networks for their global expansion, particularly in the Middle East and North Africa region.
The two parties will also work to strengthen cooperation within the framework of the Startup Qatar investment initiative by exploring joint investment opportunities and boosting the contribution of Rasmal Ventures to the program, as well as expanding the scope of beneficiaries.
QDB VP Enterprise Development Mr. Khalid Abdulla Al Mana said the partnership reflects the bank's ongoing commitment to developing an advanced investment landscape in line with the highest global standards to empower startups and contribute to their sustainable growth. 'Through our collaboration with Rasmal Ventures, we aim to enhance investment flows and help entrepreneurs build extensive networks, enabling them to connect with regional and global investors.'
Dr. Shaikha Al Jabir and Mr. Alexander Wiedmer, the co- managing partners at 'Venture Capital', emphasized that the work QDB and Startup Qatar are doing is emencely important for the economy and the innovation ecosystem. They added, 'It is an enabler for VC funds as we are. We are delighted to partner with QDB to support the startups in the program as they seek to grow.'
QDB's latest partnership reflects its vision to foster an environment that supports the growth of entrepreneurial ventures, contributing to the development of the business ecosystem and boosting the competitiveness of startups both regionally and internationally. It also equips startups with the necessary tools to succeed, reinforcing Qatar's position as a regional hub for innovation and investment in the region. This aligns with Qatar National Vision 2030, which aims to achieve economic diversification by empowering entrepreneurs and startups to thrive and grow.
About Qatar Development Bank
Founded in 1997 under Emiri Decree No. 14, Qatar Development Bank (QDB), formerly known as Qatar Industrial Development Bank, is a development institution that primarily focuses on boosting industrial development and supporting the economic diversification of the private sector in Qatar. Over the past two decades, QDB has played a pivotal role in becoming the primary support arm for the private sector in Qatar, acting as a strong catalyst for social and economic development through three main pillars: access to finance, access to markets, and access to capacity building.
QDB offers a comprehensive support system, including various financing plans, consultancy services, legal advisory, mentoring, and capacity-building platforms. This integrated approach has helped QDB become a vital partner in the growth journey of SMEs, from concept to export, enabling them to compete both nationally and internationally, contributing to Qatar's economic vision for 2030.
Currently, QDB and its affiliated institutions are building on Qatar's rich legacy of social and economic achievements through bold future-focused initiatives, with an emphasis on digital transformation in SMEs and the business environment, making it easier for entrepreneurs and SMEs to enter the new economy, embrace renewed opportunities, and gradually transform QDB into a digital future-focused institution and beacon for financial and developmental institutions across the region and the world.
