SPOTLIGHT ON NEW FIRMS QFCs platform became the pathway for Rasmal Ventures LLC, Qatars first independent venture capital company, to set up and initiate its operations in the region in 2023. Led by a team of seasoned venture capital experts, Rasmal Ventures aspires to leverage the combined experience of its team of seasoned venture capital experts to actively contribute to the regions burgeoning startup and innovation ecosystem. Rasmal Ventures on leveraging QFCs offering: Whilst we recognised the strength of the Qatari ecosystem based on the experiences of one of our local partners, choosing QFC as an entry point into the region proved to be a pivotal decision. Of course, at the top of our considerations was ensuring a seamless and successful path for our establishment. The QFC teams meticulous support and open communication especially stood out during the regulatory assessments and review of Rasmal Ventures. Even beyond incorporation, we were pleased with the collaboration prospects available to us as part of the local ecosystem. Over the course of the next six months, we forged a great working relationship with not just QFC but also key stakeholders in Qatar Xiamen Airlines on joining QFCs platform: We are pleased with our decision to have joined QFCs platform as our first step into the region. One of the most notable parts of our integration into the market here was the simplified company registration process we went through with QFC. We also appreciate the opportunities made available to us as part of the QFC community in terms of personnel recruitment, business development and business exchanges. Since Xiamen Airlines incorporation within QFC, the airline has opened two routes - Beijing-Doha and Xiamen-Doha, with a frequency of nine flights per week. and across the region. We worked closely with Qatari private investors, institutions as well as the QFCRA to lay the groundwork for the unveiling of the first Rasmal Innovation Fund that will be a landmark initiative aiming to reach USD$100 million in investment commitments. The fund will target investments in innovative and high-performance technology startups and scaleups in Qatar, the wider MENA region, and internationally at pre-Series A, Series A, and Series B stages. It will consider all technology sectors, but maintain strategic interest in climate and energy tech, fintech, supply chain logistics, B2B SaaS and Artificial Intelligence (AI). This initiative is in perfect alignment with national priorities focused on the creation of a buoyant tech ecosystem. Xiamen Airlines, established in 1984, is headquartered in Xiamen, a coastal city in southeastern Chinas Fujian Province. It is the first airline in China to operate under the modern enterprise system. Currently, Xiamen Airlines has a fleet of 211 aircraft and operates over 400 domestic and international routes. The airline serves nearly 40 million passengers annually, and more than 23 million people have joined its frequent flyer program. Among the more than 270 member airlines of the International Air Transport Association (IATA), Xiamen Airlines ranks among the top 30 in terms of revenue and among the top 13 in terms of passenger turnover. 2023 also saw Xiamen Airlines, one of Chinas top-ranked airlines, choose QFC as its gateway into the region. Becoming the first Chinese airline to operate passenger nonstop flights between Mainland China and Qatar (under a codeshare agreement with Qatar Airways), entering Qatars market allowed Xiamen Airlines to expand its route network, reaching 110 countries and 332 overseas destinations. Qatars strategic location at the crossroads between the East and West as well as its centrality in the GCC region, coupled with a robust business environment, strong economy, and political stability, were among the top reasons for Xiamen Airlines decision to establish its operational base in Qatar.