Doha, January 27 (QNA) - The Ministry of Communications and Information Technology (MCIT) has revealed that the total portfolio value of startups supported through the TASMU Accelerator, launched under the Smart Qatar TASMU Program, has exceeded QAR 4 billion, underscoring Qatar's strategic commitment to developing a competitive digital economy.

Director of the Digital Innovation Department at MCIT, Eman Al Kuwari, stated that the TASMU Accelerator reflects the ministry's vision to develop a digital entrepreneurship ecosystem by fostering innovation and enabling startups to achieve sustainable growth in line with national priorities and Qatar National Vision 2030.

She noted, during the Third Cohort Demo Day of the TASMU Accelerator, that through the support of the Cohort Champions and strategic partners providing market-access services, the third cohort achieved 40% sales growth since joining the program and successfully generated local sales opportunities exceeding QAR 330 million within Qatar.

These results demonstrate the growing strength of the startup ecosystem and reaffirm MCIT's ongoing efforts to position Qatar as a regional hub for digital innovation and entrepreneurship, Al Kuwari underlined.

Since its inception, the TASMU Accelerator has supported 75 startups selected from more than 2,200 applications submitted by founders from 78 countries.

Collectively, these startups have generated sales exceeding QAR 670 million, through 40 companies registered in the State of Qatar, highlighting the program's role in enabling entrepreneurs to access the local market, facilitating investments within the country, and reinforcing Qatar's position as a regional hub for high-growth digital companies.

MCIT organized the Third Cohort Demo Day of the TASMU Accelerator, showcasing 10 graduating startups presenting their digital solutions to officials and entrepreneurs from Qatar's ICT sector.

Three of the top-performing startups among the 10 received financial awards from the Cohort Champions in recognition of their excellence in providing innovative digital solutions, with each receiving QAR 200,000.

The third cohort of TASMU Accelerator attracted over 1,100 applications from 78 countries, from which 47 startups were selected for the pre-acceleration phase, and 26 startups advanced to the acceleration phase.

Over a six-month intensive journey, participating startups benefited from a structured program combining investment facilitation, sales support, capacity-building workshops, and access to specialized talent, tools, and sector expertise.

The TASMU Accelerator is part of MCIT's broader efforts to advance digital innovation and harness emerging technologies in support of Qatar National Vision 2030. By translating strategic investments in innovation into tangible outcomes, the program contributes to building an advanced, diversified, and knowledge-based economy, powered by trusted, high-impact digital solutions. (QNA)