Qatar Foundation (QF) has signed a memorandum of understanding (MoU) with 500 Startups, a leading global venture capital seed fund and startup accelerator, to stimulate and advance innovation in the Mena region.
Through the partnership, the two organisations will provide seed funding, training and mentorship to startups across the Mena region over the next five years. The initiative aims to help startups achieve market traction and scale, using customer acquisition and scaling strategies mastered by high-growth tech companies in Silicon Valley, such as Facebook, Salesforce and others.
QF will become an anchor investor in the 500 Startups Mena region microfund. It will also organise the annual world-class 500 Distro Dojo growth marketing accelerator programme, and make its incubation centre at Qatar Science & Technology Park (QSTP), part of Qatar Foundation Research and Development (QF R&D), available to all startups.
QF will help startups gain access to the cutting-edge research and technology development currently underway within its research institutes and labs, and enable them to benefit from the skills and capabilities of graduates from universities in Education City.
Dr Hamad al-Ibrahim, executive vice president, QF R&D, and chairman of the Board of Directors of QSTP, said QF’s research and development efforts demonstrate its commitment to building the nation’s innovation and technology capacity.
“Supporting entrepreneurs in developing products that address national priorities, have regional relevance, and provide global benefit is a key aspect of this commitment,”
Dr al-Ibrahim added.   
Dave McClure, founding partner at 500 Startups, said the organisation provide entrepreneurs with global access to expert mentorship, hands-on support, networking opportunities, and resources that will not only kick-start ideas, but help take companies to the next level.
“We aim to inspire, develop and lead by example. The Mena region is continuing to experience steady growth and through this partnership with Qatar Foundation, we want to help unleash the potential within the region.”