DOHA: The Ministry of Communications and Information Technology (MCIT) has announced the selection of 25 local and international start-ups from 14 countries to join TASMU Accelerator program for 2024. This follows an initial pool of over 640 applicants from 74 countries, with 40 start-ups advancing to a pre-acceleration phase.
All shortlisted start-ups underwent a rigorous evaluation process conducted by a panel of more than 12 subject matter experts and investors. This included multiple pitch sessions during which participants presented their go-to-market strategies. Evaluations focused on their readiness to expand in Qatar, their ability to generate revenue, and their capacity to secure funding for their next growth phases. Ultimately, only the top 3 percent of applicants were selected for the program.
By joining TASMU Accelerator, these start-ups will benefit from a comprehensive range of support services, including mentorship, access to industry experts, and collaboration opportunities with major corporations. The six-month acceleration phase will enable them to establish a foothold in Qatar's market, refine their operations, and secure investment. The top four performing start-ups will also receive a cash prize of QR200,000 each.
Assistant Undersecretary for Digital Industry Affairs at MCIT, Reem Al Mansoori, emphasized the importance of TASMU Accelerator in advancing Qatar's digital transformation: "TASMU Accelerator is dedicated to building a vibrant digital ecosystem in Qatar by fast-tracking the growth of innovative local and global start-ups. It contributes to enhancing Qatar's digital economy, attracting cutting-edge companies, and providing strategic support for market expansion. These efforts strengthen Qatar's position as a leader in technology and innovation, fostering rapid growth and enabling access to new markets."
She added: "We are excited to welcome this outstanding cohort of 25 start-ups, each capable of delivering transformative solutions that will enhance Qatar's digital competitiveness and economic growth. Through close collaboration with our partners, the 2024 TASMU Accelerator cohort will play a key role in achieving the goals of the Digital Agenda 2030 by driving innovation in key sectors such as transportation, healthcare, the environment, and tourism."
Chief Business Officer at Ooredoo, Thani Al Malki, highlighted the role of partnerships in enabling digital growth: "Ooredoo is proud to partner with TASMU Accelerator in nurturing a thriving digital ecosystem. By offering advanced connectivity and technological resources, we empower exceptional entrepreneurs to achieve their goals and contribute to the objectives of the Digital Agenda 2030. This collaboration not only advances innovation across critical sectors but also strengthens Qatar's leadership in technology and entrepreneurship."
Building on the success of the 2023 cohort which raised $36 million in funding, generated over $100 million in revenue, and achieved a combined valuation of $500 million TASMU Accelerator continues to make significant contributions to Qatar's entrepreneurial and digital landscape.