Qatar prepares for new investments in Turkish startups
A Turkish flag is pictured on a boat with the Ortakoy Mosque in the background in Istanbul, Türkiye September 5, 2021. (Reuters/Murad Sezer)
Qatar is preparing to expand its investments in Turkish startups, adding to its existing portfolio in the country.
Sheikh Mansoor Al Thani highlights potential of Turkish startups
Speaking at the GSA Innovation Summit in Istanbul, Qatari royal member Sheikh Mansoor Al Thani emphasized the great potential of Türkiye‘s startup ecosystem and the high returns on investment.
In an interview with CNBC-e, Sheikh Al Thani expressed his strong belief in the power of entrepreneurship and innovation. “Entrepreneurship and innovation are concepts I strongly believe in and think about constantly. Türkiye has great talents and wonderful workers. Some unicorns are also entering Türkiye. I can say it holds great potential,” he noted.
Current investment levels
Sheikh Al-Thani clarified the scale of Qatar’s current investments in Türkiye, mentioning that while the amounts are not extremely large, the returns are significant. “We are not talking about huge investment amounts in Türkiye. Although the returns are high, the risk is also high. We are looking at investments in the range of a few million dollars. However, I expect the returns to be high from the technology, innovation, and entrepreneurship side,” he explained.
When asked about the total size of Qatar’s investments in Türkiye, Sheikh Al Thani stated that he was unsure of the exact figure but acknowledged that Qatar has significant investments in the country.
“I don’t know the exact amount, but Qatar has serious investments in Türkiye. Our relations are very good – there’s friendship and brotherhood.”
Satisfaction with existing investments
Sheikh Al Thani expressed his satisfaction with Qatar’s current investments in Türkiye. “I’m more than satisfied, yes. My investment is in people. I focus on people, which is very different. We create value from people, investments, and innovation,” he said.
Economic environment in Türkiye
Regarding the economic environment in Türkiye, Sheikh Al Thani recognized the global challenges affecting the country.
“Türkiye is facing challenges like many other countries. In my opinion, the approach to the global economy should be different. It’s not just about thinking outside the box but eliminating the box altogether. We need to focus on innovation and entrepreneurship,” he suggested.
Opportunities for Turkish contractors
Sheikh Al Thani also touched on opportunities for Turkish contractors in Qatar, stating that they are not only working in Qatar but also contributing to global and regional projects.
“Qatar’s position as a global hub offers great opportunities for Turkish contractors. Many are working on regional and international projects through Qatar,” he added.
