Qatar FinTech Hub (QFTH), co-founded by Qatar Development Bank (QDB) and established to support the growth of the fintech industry in Qatar, has announced that Demo Day for Wave 1 of its flagship Incubator and Accelerator Programs took place virtually on 18 January 2021.
The QFTH Demo Day, sponsored by Dukhan Bank, will be one of the biggest fintech events in the region hosting key players from the local financial services ecosystem, as well as investors, global startups, international fintech hubs, aspiring entrepreneurs and fintech enthusiasts.
Catering to fintech entrepreneurs and startups worldwide who are looking for a launchpad and a hub in the Middle East to accelerate their growth, the QFTH Programs comprise of an Incubator for early-stage startups and an Accelerator for mature fintechs. The programs have received tremendous traction during Wave 1 with over 750 applications from 72 countries.
Through the Incubator and Accelerator Programs, participating fintechs took part in more than 300 business development sessions with over 15 financial institutions and completed a series of high-level Masterclasses conducted by QFTH partners and renowned speakers from across the world.
Abdulaziz bin Nasser Al Khalifa, Chief Executive Officer of Qatar Development Bank and Fintech Task Force Chairman said: “Through QFTH, we aim to develop fintech s and support entrepreneurs and innovators to make an impact in the region. Our efforts are built upon the robust and sturdy Qatari financial sector and powered by the support of our partners who play a great role in the success of the program.
“I look forward to welcoming the international community to our first virtual Demo Day to learn more about the graduates of Wave 1 of our Programs and about the dynamics of the Qatari market.”
QFTH aims to develop the fintech industry in Qatar, in accordance with the Qatar National Fintech Strategy created by Qatar Central Bank (QCB), and to contribute and reiterate Qatar’s position as a leading international fintech hub in the region, as outlined in Qatar’s National Vision 2030. The first wave of the Incubator and Accelerator Programs were focused on payments in alignment with the Qatar Fintech Strategy, and in synergy with QCB – Sandbox and upcoming regulations.
Khalid Al-Subeai, Chief Executive Officer of Dukhan Bank, said: “We at Dukhan Bank are committed to supporting the digital transformation of the financial sector in Qatar. This is an important platform to provide a dependable infrastructure that is capable of meeting Qatar’s ambitions and future vision. We are proud to be sponsors of the first-ever Demo Day for Qatar Fintech Hub and we look forward to welcoming all fintech enthusiasts and networks from around the world to join us for this event.”
As part of its commitment to offer world-class expertise to participating fintechs, QFTH is continuously collaborating with strategic stakeholders within the fintech ecosystem including financial institutions, technology providers, payment networks, global fintech hubs, academia, and regulators. Microsoft is participating as our program technology partner. Other recent partnerships include Amazon, Progress Soft, Vodafone, and Global Positioning System to name a few.