Esports company Level Infinite and the investment portfolio agency of Qatar, Invest Qatar, have signed a Memorandum of Understanding (MoU).
The Memorandum will aim to help grow the local gaming ecosystem, and Level Infinite will enter the Qatari market as a result. The two partners did not share too many details, but it is expected that new projects and initiatives will be created as a part of the collaboration.
(Illustration) Image credit: Invest Qatar / Level Infinite
Level Infinite is most known for being the esports-focused arm of Tencent, a global game development company. Level Infinite is tasked with organising esports events and tournaments, as well the global publishing of games such as PUBG Mobile and Honor of Kings.
The deal with Qatar’s investment agency aims to support the country’s flagship project, the Qatar National Vision 2030. As a part of the project, Tencent and Invest Qatar will work on “joint initiatives to grow the local gaming ecosystem and share global best practices.” In addition, Level Infinite will enter the Qatar market and establish operations there. Invest Qatar will help Level Infinite connect with local stakeholders and work with the esports brand on talent development initiatives, the two companies said in a release.
Sheikh Ali Alwaleed Al-Thani the CEO of Invest Qatar, said:
We are pleased to partner with Level Infinite in a collaboration that aligns with our ongoing efforts to foster a vibrant digital economy in line with Qatar National Vision 2030. The gaming industry represents a dynamic frontier for innovation, youth engagement and economic diversification. With a tech-savvy young population, the world’s fastest mobile internet speeds and our strategic location within one of the fastest growing regions for gaming, Qatar is well-positioned to capitalise on this momentum.
The Qatar National Vision 2030 emphasises the importance of new technologies, sports and projects focused on making Qatar a global esports and gaming hub, which is similar to some other projects in the Middle East, like Saudi Arabia’s Vision 2030 and UAE’s partnerships and sponsorships made with esports companies and projects.