How Doha’s €1.8B Fund and 10-Year Visa Open Doors for Portuguese Tech

Web Summit’s Lisbon-born tech festival has expanded into Doha at twice its previous size, a shift that could channel fresh Gulf capital toward Portuguese founders while also exposing them to a markedly different political climate.

Why This Matters

• €1.8 B in new money: Qatar Investment Authority’s enlarged fund-of-funds is actively scouting European deals.

• 10-year entrepreneur visa: Easier relocation for Portuguese talent, but applications open only until June.

• Cheaper runway: Doha’s corporate tax holidays and free-zone perks cut overheads by up to 20 % compared with Lisbon.

• Heightened political risk: On-stage activism around Gaza triggered controversy that investors warn could spill into regulation.

From Lisbon to Doha: A Bigger Stage for Iberian Tech

When the Portugal-rooted Web Summit first touched down in the Gulf last year, skeptics viewed it as a one-off branding exercise. This week’s numbers – 30 274 participants, 1 637 startups and 931 investors – silence that doubt. The conference now rivals its November edition back home in Lisbon, and organisers say Qatar’s deep pockets are the reason: the emirate’s sovereign wealth fund has earmarked US$2 B to co-invest with global venture firms.

For Portuguese founders, that translates into ticket access to a pool larger than the entire annual budget of Portugal’s Innovation Fund. Early-stage platform Portugal Ventures already confirmed side meetings with at least four Gulf limited partners, according to people familiar with the talks.

Qatar’s €1.8 B Sweetener: How the Money Flows

Qatar Investment Authority’s new “Fund of Funds” operates a simple model: for every euro committed by an approved VC, QIA matches it 1:1, but mandates that 60 % be deployed inside the Gulf Cooperation Council. European partners, therefore, must co-locate or open satellites in Doha’s free-zones – Ras Bufontas for software, Umm Alhoul for logistics. The sweeteners include 20-year tax holidays, 100 % foreign ownership and subsidised office space that runs roughly €18/m², about half the going rate in Lisbon’s Parque das Nações.

Politicised Spotlight: Upscrolled’s Gaza Rhetoric

Much of the media glare fell on Upscrolled, a social network built by a Palestinian-Jordanian engineer that recently spiked to the top of U.S. download charts after the forced sale of TikTok. Founder Issam Hijazi used his keynote to criticise Big Tech and accuse platforms of enabling “genocide” in Gaza. While the applause in Doha was loud, several European investors privately described the speech as “distracting and risky”, noting that heightened geopolitical messaging could lead to content-moderation crack-downs and reputational hazards.

No Portuguese VC publicly backed Upscrolled on stage, and some, such as Indico Capital Partners, signalled they would wait for clarity on the company’s governance and compliance posture before engaging. For Portuguese retail investors who buy into early crowdfunding rounds, the caution is clear: politicised ventures may face export restrictions, especially under the EU’s upcoming Digital Services Act.

What This Means for Residents

• Start-ups: Lisbon-based founders can leverage Doha as a low-tax test market, but must register a local subsidiary to qualify for the co-invest fund.

• Job-seekers: Engineers can obtain a 10-year “Founder Visa”; acceptance letters require proof of €150 000 in seed funding or equivalent intellectual property.

• Investors: The Portugal Securities Market Commission (CMVM) warns that Gulf co-investment deals are denominated in US dollars; currency-hedge costs could shave 3-5 % off returns.

• Consumers: Expect more Middle-Eastern fintech apps on Portuguese phones; Banco de Portugal is reviewing two Qatari payment start-ups for PSD2 passports.

Next Steps for Portuguese Companies

Apply early: QIA’s matching tickets are allocated on a quarterly basis – the first cut-off is 31 March.

Local compliance: Hire a Doha-based legal rep; failure to keep data on approved local clouds breaches new Qatar privacy rules.

Mind the optics: Avoid being drawn into regional disputes that do not serve core business; Portuguese exporters are better off highlighting neutrality and EU regulatory standards.

Bottom Line

The Doha expansion offers unprecedented funding and market access for Portuguese tech, but deal-makers will need to balance the lure of Gulf liquidity with the reputational landmines of an increasingly politicised stage.