The Scene
The second edition of Web Summit Qatar hit all the metrics for a tech event: a sold-out venue, nearly 26,000 attendees from 124 countries, thousands of startups and investors, actual royals setting on stage — and the “Fresh Prince of Bel Air” himself. The presence of women was noticeable — accounting for almost half the startup founders and a third of attendees — unusual for an industry that allocates most of its capital to male entrepreneurs.
“In our first year, we thought we would get 5,000 people to come and aspired to 12,500,” Web Summit CEO Paddy Cosgrave told Semafor. “We’ve already outgrown the space. I’m sure it’s in some part because we’re awesome, but it’s also indicative of the region. There’s definitely something happening in Qatar.”
The hot ticket this week wasn’t the packed convention center halls. A short drive away, at a luxury hotel, the Qatar Investment Authority convened fellow sovereign wealth funds and institutional investors from Asia, Europe, the US, and the Gulf — representing $2 trillion in cumulative assets — for an invite-only event with about 30 companies.
The off-the-record gathering — which I briefly gained access to — is an initiative aimed at fostering a more collaborative investment ecosystem among SWFs and other large investors. Around 100 people attended, and you’ll be shocked to learn that among the topics I overheard, which I hope they don’t mind I disclose, was AI.