Qatar unveils roadmap for Middle East “Knowledge Economy”
Posted: 13 February 2006
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In an aim to establish a knowledge economy in the Middle East, Qatar Science & Technology Park (QSTP) has laid out its strategies in attracting companies to develop their technology in Qatar.
 “We’re taking a two-pronged approach at Qatar Science & Technology Park” said Ben Figgis, Marketing Manager of QSTP during the recent conference in Doha. “First, we’re building an attractive environment and incentives for companies to develop their technology in Qatar. Second, we’re setting up a business incubator to help technology start-ups get off the ground.”
Figgis explained that historically there has been little R&D or technology entrepreneurship in the Arabian Gulf, with the economy being dominated by big petroleum projects and state-owned enterprises. Governments in the region have recently started to look for ways to diversify beyond oil and create high-skill jobs. Qatar’s approach has been to invest deeply in education and science, and at the same time encourage the private sector to play a bigger role.
US former president Bill Clinton, in his speech stressed the importance of economic development in the Middle East. “If you look at Weill Cornell, Texas A&M and Georgetown, you have the building blocks of a diversified economy,” he said, referring to the universities at Qatar Foundation in Doha.
Companies are being attracted to the science park by free-trade zone incentives such as tax breaks and full ownership rights, as well as links with universities. As part of the renowned Qatar Foundation, its neighbours include campuses of Carnegie Mellon, Weill Cornell, Georgetown and Texas A&M universities, plus a planned billion-dollar teaching and research hospital.
Qatar Science & Technology Park is designed to link the research efforts of these institutes with industry, and to provide jobs for their growing pipeline of students.
“It’s a long term vision, but in a few years we fully expect to see technology breakthroughs by companies and universities in Qatar, which are then commercialised with companies at the science park” said Figgis. “The academic side is already well underway at Qatar Foundation, and right now Qatar Science & Technology Park is building the environment for the companies and entrepreneurs.”
He said international companies have already committed more than $100 million of investment in research and commercialisation at Qatar Science & Technology Park over the next five years.
Companies to have already joined Qatar Science & Technology Park include EADS, ExxonMobil, GE, Microsoft, Rolls-Royce, Shell and Total. As it nears its opening in early 2007, it expects to also attract medium-sized companies and to start filling its business incubator. While the science park is open to technology development in any industry, it cites gas, petrochemicals, IT, water, environment, healthcare and aviation as being sectors most relevant to Qatar’s economy and society.
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