Biotech, AI and climate technologies are growing sectors for startups – Web Summit Qatar

While the venture capital is lower than in the previous crypto bull cycle, some sectors are seeing an increase in value, which will attract the full attention of investors in 2024.

During a panel moderated by Cointelegraph Editor-at-Large Christina Korner at Web Summit Qatar, venture fund executives discussed their investment strategies for the coming months and what will make founders stand out.

According to Founders Network's Kevin Holmes, startups working on artificial intelligence (AI), climate technology, biotechnology and the healthcare industry are on the rise. “This year, we feel like we're coming back and we're on another level of growth with JNI,” he said.

Artificial intelligence is a big focus for Zach Kolius of Kolius Capital. According to him, there is “tremendous excitement” around AI startups, with profits and product improvements supporting the trend around the technology.

“So, for the last decade, it's been like, ‘Oh, this is a little bit better. This is a little better. This is a little better.' And now it's like: ‘Yeah, that way is better.'”

Adwa Aldakel of Falak Investment Center lists tenacity as one of the key traits of a founder.

“I want to see them fall because I know them. […] Find another model. They lead, and 70% of startups become pivots. But it's a privilege as an investor to be a part of this journey for a founder who knows and is driven by purpose, not just for a quick exit or the cover of Forbes magazine.

According to Coelius, a startup founder must think creatively about how their product can solve problems. “What you always see in startups is everybody. […] Doing the same things, the same way, and very rarely those results work. It is the first thinkers who are trying to create truly new ways to solve new problems with new technologies that have the greatest impact.

Founder Network Holmes believes that having a global mindset can be key to overcoming obstacles when seeking capital:

“Starting a small business is as difficult as a large business. There are big exits from San Francisco and Silicon Valley. […] We want to connect with globally minded founders […] Looking to open an office in San Francisco in Silicon Valley so they can achieve that result. Building a unicorn is great, but having an exit is even better.”

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