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Web Summit Qatar Starts in Doha as SEF 26 Ends
Monday, February 2, 2026
Happy Monday everyone!
As Sharjah Entrepreneurship Festival 2026 concluded in Sharjah and Web Summit Qatar opened in Doha, the events season is in full swing in the Middle East. More on both events down in the news well.
Elsewhere, Abu Dhabi reshaped control of a $260B sovereign portfolio in a clear generational shift, Saudi Arabia pushed ahead with a $64B privatisation drive to accelerate private-sector participation.
Markets
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Web Summit Qatar: Robo Dance, Qatar PM’s Welcome and Upscrolled Founder Issam Hijazi’s Appearance
Web Summit Qatar opening night was an extravaganza if anything. Unitree robots danced to the tuned as lights turned on at the main stage. Founder Paddy Cosgrave ditched his usual t-shirt and jeans look for a suit and received a cheer from the crowd when he said participants from Palestine are also at the event this year. Qatar’s PM highlighted the achievements of the country and ended his well-read speech with ‘Welcome to Qatar’.
However, the highlight of Day 0 was the Palestinian-Jordanian-Australian founder of Upscrolled, Issam Hijazi, who was making his first public appearance after the app crossed 1 million users and topped downloads charts across the globe. Big Tech doesn’t care about, Upscrolled is a movement rather than an app, and it is and will be built with input from users rather than what makes the most money for Issam. The full opening ceremony is just an hour-long watch.
Web Summit Qatar is hosting 1,600 startups and more than 30,000 attendees in 2026. The summit runs from February 1 to 4, 2026, reinforcing Qatar’s ambition to position itself as a regional technology hub.
SEF 2026 Concludes with a Powerful Day Two Spotlighting Discipline, Impact and Global Ambition
The Sharjah Entrepreneurship Festival (SEF) 2026 concluded with a powerful second day that captured the spirit of its theme, Where We Belong, blending discipline, impact, and global ambition across its stages.
UFC legend Khabib Nurmagomedov delivered one of the festival’s most compelling sessions, reflecting on the mindset behind his undefeated career, the influence of his late father, and why preparation is the ultimate defence against pressure. Moderated by Anas Bukhash, the talk reframed winning as long-term discipline, purposeful sacrifice, and mentorship for the next generation.
Social impact took centre stage as Sheikha Lubna urged founders to embed philanthropy into their businesses from day one, spotlighting UAE-led initiatives in sustainability, healthcare, and education. Dr Basma Al Said echoed this call, highlighting inclusive design and founder wellbeing as essential to building ventures that truly serve communities.
Meanwhile, Shark Tank alumni offered candid lessons on post-show reality, investor fit, and operational readiness, reminding founders that visibility accelerates growth, but resilience sustains it.
Abu Dhabi’s $260bn Wealth Reset Puts H.H Sheikh Khaled at the Helm
What Is It About?
H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has assumed oversight of a $260 bn sovereign portfolio, taking control of ADQ in a reshuffle that signals a generational shift in Abu Dhabi’s power structure. ADQ is now folded under L’Imad Holding, a newly created fund chaired by Sheikh Khaled, bringing assets like Etihad Airways and the emirate’s nuclear energy company under his remit.
Why It Matters?
Abu Dhabi is refining how it deploys its oil-built wealth, pairing younger leadership with increasingly assertive capital strategies. The move also triggers executive changes, with ADQ CEO Mohamed Hassan Alsuwaidi stepping down to join Lunate, a fast-growing $115 bn asset manager. Together, these shifts underline how influence is being consolidated and redirected, not diluted.
What’s Next?
Expect closer coordination between Abu Dhabi’s funds and more globally focused dealmaking. Investors will watch how L Imad positions itself and whether this reshuffle accelerates risk-taking — or discipline — across the emirate’s vast portfolio.
Saudi Arabia’s $64bn National Privatisation Push Signals Execution Mode
What Is It About?
Saudi Arabia has launched a national privatisation strategy targeting $64 bn in private investment by 2030, aiming to channel capital into large-scale infrastructure and public services. The plan expands public-private partnerships across 18 sectors and opens more than 220 projects to private players.
Why It Matters?
The strategy marks a shift from planning to delivery. Privatisation is central to funding growth without overheating the economy, especially as the kingdom recalibrates timelines for some Vision 2030 megaprojects. Projects on offer range from water reservoirs and airports to the Saudi Land Bridge, with job creation a core objective.
What’s Next?
Execution will be key. With over $213 bn in approved projects already developed, attention will turn to deal flow, investor appetite, and whether the private sector can absorb more responsibility as the state steps back selectively.
🦄 World of Startups
Notion Expands into Middle East with Launch of Arabic Support
Wio Bank Partners with Pine Labs to Revolutionise UAE Payment Processing
Vennre Secures $9.6M to Democratise Wealth-Building in Saudi Arabia
Jeel and Ripple Join Forces to Revolutionise Saudi Payments with Blockchain
AI Integration Gains Momentum in UAE as Firms Reap Early Rewards
Argentum AI Taps Saudi Golf Leader Majed Al Sorour for Global Expansion Drive
SIRBAI and EDGE Forge Strategic UAE Alliance to Elevate Drone Autonomy
👨💻From Smashi Business’ Desk
Binghatti Holding Puts IPO on Hold, Focuses on Expansion with Strong Cash Reserves
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Trump Taps Israeli Billionaire Yakir Gabay for Controversial Gaza “Board of Peace”
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🔍In other news…
Libya Emerges as Top Destination for US Oil Firms Over Venezuela
Saudi Arabia Opens Property Market to Foreign Buyers From $270
Saudi Arabia Targets Wealthy Families in Fresh Capital Drive
Lunate targets doubling of assets under new leadership
🗓️ Plan Your Events (Jan-Feb 2026)
UAE
3-5 February: The World Governments Summit, Dubai.
9-12 February: World Health Expo (WHX), Dubai.
11-12 February: STEP Dubai Conference, Dubai Internet City. (Media Partners)
Saudi Arabia
2-4 February: Saudi Media Forum, Riyadh.
2-4 February: Women Leaders Summit and Awards KSA, Riyadh.
8-12 February: World Defense Show, Riyadh International Convention and Exhibition Center, Riyadh.
Egypt
5-7 February: RiseUp Summit, Cairo. (Media Partners)
11-12 February: Ai Everything Egypt (Organized by GITEX Global), Cairo. (Media Partners)
Qatar
1-4 February: Web Summit Qatar, Doha. (Media Partners)
2-5 February: 21st International Conference & Exhibition on Liquefied Natural Gas (LNG2026)
