Developing a Vibrant Entrepreneurship Ecosystem in Qatar: A Sustainable Pathway Toward the Knowledge-Based Economy?

Abstract

For countries that depend on nonrenewable resources such as oil and gas, economic diversification is vital to ensure sustainable and resilient economic development. In July 2008, the government of Qatar launched the long-term national strategy Qatar 2030 (QNV 2030), intending to transform Qatar into a knowledge-based economy capable of attaining sustainable development by 2030. Since then, the Qatari government has invested continually and implemented many policies to encourage innovation, entrepreneurship, the private sector, and the advancement of human capital competencies to turn the economy into a knowledge-based one. Indeed, entrepreneurship is a crucial engine for economic development, one of the essential engines of economic diversification and building a knowledge-based economy. Qatar has, therefore, made a significant determination to develop a flourishing entrepreneurial ecosystem, including establishing key institutions and organizations to support entrepreneurs, such as incubators and financial framework, as evidenced by the increasingly strong performances in key international indices published by multiple global organizations. Nevertheless, despite Qatar's desire to diversify its economic base, entrepreneurs still have to contend with some challenges. Some of these difficulties are inextricably linked to Qatar's features as a rentier state. This chapter aims to analyze the present state of the knowledge-based economy in Qatar with a focus on the entrepreneurial ecosystem. It has two objectives. Firstly, the chapter intends to investigate the features and recent development of Qatar's entrepreneurial ecosystem, especially after the COVID-19 pandemic. Second, the article intends to examine the dynamics and many challenges that shape this ecosystem.