Doha, September 23 (QNA) - The Ministry of Communications and Information Technology (MCIT) has closed registration for the 2024 cohort of its Smart Qatar - TASMU Accelerator program, receiving over 640 applications from startups in 74 countries. This six-month program empowers growth-stage startups, driving Qatar's digital future forward. Building on the remarkable portfolio of startups in the 2023 cohort, which secured $36 million in funding, generated over $100 million in sales, and achieved a combined valuation of $500 million since their establishment, TASMU Accelerator sets high expectations for 2024 startups.
Registration for participation in TASMU Accelerator was officially open until June 15, 2024. All applications are being assessed based on the eligibility of the participating companies and their alignment with the objectives of the program up to the required growth phase. 40 qualifying startups will join the pre-acceleration phase, where they will pitch their Go-To-Market strategies to the Accelerator's committee. Subsequently, 25 of the best startups will be selected to join the six-month Accelerator phase, which will conclude in a grand demo day for the best 8 startups in the program.
In partnership with Ooredoo Qatar, Hewlett Packard Enterprise, and Malomatia, TASMU Accelerator provides a platform for growth-stage startups to showcase innovative, state-of-the-art solutions and applications that can enrich Qatar's digital transformation ecosystem. The program is open to local and international startups operating across the health, environment, tourism, transportation, and logistics sectors as per their alignment with the national priorities of the country.
Reem Al Mansoori, Assistant Undersecretary for Digital Industry Affairs at MCIT, said: "Qatar's Digital Agenda 2030 positions us as a leader in technological innovation. We are thrilled at the Ministry of Communications and Information Technology to see TASMU Accelerator play a leading role in fulfilling the Agenda's Thriving Digital Innovation pillar, specifically by Boosting the Start-Up Ecosystem.
Thani Al Malki, Chief Business Officer at Ooredoo Qatar, stated: "At Ooredoo Qatar, we are proud to continue our partnership with TASMU Accelerator, which underscores our commitment to Qatar's economic diversification and digital transformation. As a leader in telecommunications, we understand the critical role emerging technologies play in shaping innovative solutions. This understanding drives us to provide a crucial platform for startups to demonstrate their capabilities, significantly contributing to the advancement of our economy. Our collaboration with TASMU is a key part of our strategy to support a sustainable business environment and aligns perfectly with our enduring support of Qatar's National Vision." TASMU Accelerator supports startups through a comprehensive package. The top four performers will each secure a cash prize of QAR200,000, while all founders gain access to a network of over 40 potential investors. The program's virtual framework offers global reach, enabling founders to join from any country in the world, whereas the industry connections provided by the program ensure seamless entry into the Qatari market. The Accelerator also empowers participants with technical tools, a Qatari soft landing, and the expertise of Qatar's leading university talent. Notably, TASMU Accelerator delivers all this exceptional support without taking any equity in return.
Commenting on Malomatia's participation as a partner in TASMU Accelerator, Mohammed Ali Al Emadi, Chief Cloud, Infrastructure & Security Services at Malomatia said: "Malomatia is thrilled to be part of TASMU Accelerator program, a platform that underscores our commitment to promoting innovation and startups in Qatar. By leveraging our extensive expertise and success stories in digital transformation within key sectors like logistics, tourism, and healthcare, we aim to support startups in developing groundbreaking advancements. This support will not only equip startups, but also redefine the possibilities within Qatar's digital landscape, driving the country towards a more dynamic future." Savio Ibrahim, Country Manager at HPE Qatar, added: "At HPE, we believe in the transformative power of technology, and aim to advance how people live and work. TASMU Accelerator's commitment to equipping startups with the tools and expertise to thrive in the digital age aligns perfectly with our strategic vision in Qatar. We are proud to be a part of their journey in building the future and contributing towards Qatar's National Vision 2030." (QNA)