The Ministry of Communications and Information Technology (MCIT) recognised three startups for their groundbreaking solutions during the Tasmu Accelerator 2023 Demo Day held in Doha yesterday.
Albert Health, Direk, and Fleetroot, which stood out from the accelerator’s healthcare, environment, and logistics tracks, respectively, each received a QR200,000 cash boost from their respective Track Champions to further grow and scale their businesses, all while maintaining 100% equity.
The event took place following the inauguration of the Tasmu Accelerator Hub at Ooredoo HQ2, which was officiated by HE the Minister of Communications and Information Technology Mohamed bin Ali al-Mannai.
Designed to nurture startups, the dedicated workspace will welcome graduates of the 2023 Cohort. This strategic positioning will provide them with invaluable local market insights, and industry expertise, as well as facilitate their successful entry and growth into the Qatari market.
During yesterday’s demo day, the programme’s top eight finalists – Albert Health from the UK, Doktorconnect (Nigeria), Evyd Research (Singapore), (the UK), Aspire (Australia), Darbco (Jordan), Fleetroot (the UAE), and LogesTechs (Palestine) 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 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.
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 by providing an all-inclusive, supportive ecosystem for global and local tech startups, said Reem al-Mansoori, Assistant Undersecretary of Digital Industry Affairs at MCIT.
Al-Mansoori said: “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.”
Speaking on the sidelines of Demo Day, Eman al-Kuwari, Director of Digital Innovation Department at MCIT, told reporters that the programme has attracted over 540 applicants from 78 countries for its inaugural cohort. Of these, 25 startups were selected to participate in a dedicated six-month acceleration phase, she said.
To qualify, participants were required to address challenges within three key priority sectors, each sponsored and supported by a Track Champion: Ooredoo (environment), Microsoft (healthcare), and Ericsson (logistics).
The Tasmu Accelerator programme has achieved remarkable milestones this year, thanks to the market access and funding support of 85 partners and venture capitalists. Additionally, over 70 workshops have been delivered, equipping startups with the essential skills and resources to develop their projects.
Since its establishment, the 2023 cohort startups have been successful in raising $36mn worth of funding and generating sales exceeding $100mn, resulting in a combined portfolio valuation of $500mn.
As part of its mission to build capacity and foster networking, the accelerator has also facilitated over 150 sales meetings between startups and key local entities. In addition, over 150 interns from Qatar’s leading universities have been strategically matched with startups, allowing them to gain practical experience in a real business environment while offering startups access to a pool of emerging talent.
The Tasmu Accelerator, which announced the opening of the early registration phase for the 2024 cohort, is set to continue its mission through 2030, in line with the country’s national vision.
The programme 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.