MCIT Honors Top-Performing Start-Ups by the “TASMU Accelerator” Initiative

Group photo during the ceremony held to honor top-performing start-ups by the "TASMU Accelerator" initiative.

The Ministry of Communications and Information Technology (MCIT) Hosting the TASMU Accelerator 2023 Cohort Demo Day has recognised three standout start-ups for their ground-breaking solutions.

“Albert Health” in the healthcare track, “Direk” in the environment track, and “Fleetroot” in the logistics track. were awarded a QAR 200,000 cash boost from their respective Track Champions to further grow and scale their businesses, all while maintaining 100 percent equity.

The event took place following the inauguration of the TASMU Accelerator Hub at Ooredoo HQ2, which was officiated by HE Minister of Communications and Information Technology Mohammed bin Ali Al Mannai. Designed to nurture start-ups, the dedicated workspace will welcome graduates of the 2023 Cohort a strategic positioning that will provide them with invaluable local market insights, industry expertise, as well as facilitate their successful entry and growth into the Qatari market.

During the demo day, the program’s top eight finalists presented their solutions to a distinguished audience from Qatar’s thriving innovation ecosystem, including public and private sector industry executives, esteemed investors, and accomplished mentors. With the aim of enhancing deal flows, the event also featured panel discussions focused on the impact of public and private partnerships and how they can nurture Qatar’s start-up ecosystem.

The Accelerator has made significant strides in cultivating innovation and enabling the digital transformation in the country. Open to both local and international start-ups, the initiative plans to introduce annual cohorts, with the overarching vision of propelling Qatar into a world-class smart city. This transformation aims to elevate living standards, enhance global competitiveness, and introduce cutting-edge digital solutions.

Assistant Undersecretary of Digital Industry Affairs at MCIT Reem Al Mansoori commented: “By providing an all-inclusive, supportive ecosystem for global and local tech start-ups, the TASMU Accelerator is set to drive Qatar’s digital economy forward and help position the country as a leader in the global tech industry. At MCIT, we are looking for more than technological and innovative solutions. Our aim is to find solutions that can seamlessly integrate into our daily lives and meet the varied needs of our community. For us, technology serves as tool to ensure that Qatar is the number one place to live, work and call home. Technological solutions are there to help us feel comfortable, supported, and efficient. We are confident these eight start-ups can implement new solutions that will further enhance the overall human-centric approach we want technology to provide to us all living in Qatar.”

Since its launch, the program has attracted over 540 applicants from 78 countries for its inaugural cohort, which ran until November 2023. Of these, 25 start-ups were selected to participate in a dedicated six-month acceleration phase.

To qualify for this unique opportunity, participants were required to address challenges within three key priority sectors, each sponsored and supported by a Track Champion: Ooredoo for Environment, Microsoft for Healthcare, and Ericsson for Logistics.

As the strategic operator of the initiative, and the Environment Sector Track Champion, Chief Executive Officer of Ooredoo Qatar HE Sheikh Ali bin Jabor Al-Thani, said: “As a pioneering telecommunications operator, we have always believed in the power of innovation to drive progress and shape the future. With the TASMU Accelerator, we are proud to be at the forefront of Qatar’s innovation ecosystem, supporting the most promising tech start-ups. We are excited to collaborate with these trailblazers and empower them with unparalleled support, as they bring their game-changing solutions to life. Together, we will pave the way for an advanced Smart Qatar, where technology drives sustainable growth and has a transformational impact.”

For her part, General Manager of Microsoft Qatar Lana Khalaf, said: “We are happy to support the TASMU Accelerator initiative as it builds on our longstanding partnership with MCIT and delivers on our commitment to power innovation from Qatar to the world.” She added, “As the TASMU Accelerator Healthcare Sector Track Champion, we will provide start-ups with next-generation cloud and AI tools, go-to-market resources, mentorship and training to empower them to innovate unimaginable breakthroughs that would improve health outcomes and revolutionize the healthcare industry.”

Similarly, Country Manager of Ericsson Qatar, the Logistics Sector Track Champion Georges Wakil  expressed his excitement for the future: “We are thrilled to participate in the TASMU Accelerator initiative, which is propelling Qatar’s innovation vision forward by nurturing the next generation of entrepreneurs and innovators. At Ericsson, we are committed to pioneering new business ideas for a better future, and the TASMU Accelerator provides us with an exceptional opportunity to advance and expand the innovation ecosystem in Qatar.”

The TASMU Accelerator program has achieved remarkable milestones this year, thanks to the market access and funding support of more than 85 partners and venture capitalists.  Additionally, over 70 workshops have been delivered, equipping start-ups with the essential skills and resources to develop their projects.

Since its establishment, the 2023 cohort start-ups have been successful in raising an impressive USD 36 million of funding and generating sales exceeding USD 100 million – resulting in a combined portfolio valuation of USD 500 million.

As part of its mission to build capacity and foster networking, the Accelerator has also facilitated over 150 sales meetings between start-ups and key local entities. In addition, over 150 interns from Qatar’s leading universities have been strategically matched with start-ups, allowing them to gain practical experience in a real business environment, while offering start-ups access to a pool of emerging talent.

In line with the Qatar National Vision, the TASMU Accelerator is set to continue its mission through 2030. The program aims to bolster the economy, enhance private sector competitiveness, and broaden Qatar’s revenue streams by introducing 80 innovative solutions to the local market and generating 800 job opportunities.

Related Posts