Qatar`s TASMU Accelerator attracts over 640 applications

27/10/24

Qatar's Ministry of Communications and Information Technology (MCIT) recently closed registration for the 2024 cohort of the Smart Qatar - TASMU Accelerator programme. The scheme attracted over 640 applications from 74 countries. Applications were evaluated based on eligibility and alignment with programme objectives.

The six-month initiative supports growth-stage startups, which are expected to play a pivotal role in advancing Qatar's digital transformation. Forty qualifying startups will enter a pre-acceleration phase, pitching their Go-To-Market strategies. Ultimately, 25 will be selected for the intensive six-month accelerator phase, culminating in a grand demo day for the top eight.

The TASMU Accelerator has set ambitious goals for its 2024 participants, building on the achievements of the 2023 cohort. Notable successes included startups securing QAR 131.04 (USD 36 million) in funding, generating over QAR 365 million (USD 100 million) in sales and startups achieving a combined valuation of QAR 1.82 billion (USD 500 million).

In collaboration with partners including Ooredoo Qatar, Hewlett Packard Enterprises and Malomatia, the TASMU Accelerator offers a robust platform for startups to present innovative solutions. Furthermore, the programme welcomes both local and international startups from sectors including health, environment, tourism, transportation and logistics, aligning with national priorities.

As part of Qatar's Digital Agenda 2030, the TASMU Accelerator aims to lead in technological innovation by boosting the startup ecosystem. The programme recognises outstanding performers, with the top four startups each receiving a cash prize of QAR 200,000 (USD 54,945 ). In addition, all participants gain access to a network of over 40 potential investors.

With a virtual framework encouraging global participation, the accelerator ensures seamless integration into the Qatari market. As a result, it offers extensive support without requiring equity thereby empowering entrepreneurs to build remarkable solutions.

Business Start Up Qatar offers a network of experts and specialists within the lifecycle of a business. We can offer expertise in Market Research and Assessment Qatar, Qatar Business Case, Qatar Business Model Development, Feasibility Study and Business Plan Qatar, Organizational and Operational Structuring Qatar, Qatar Sponsorship and Partnership, Company Formation Qatar among others.

Please click on the link to learn more about company formation and business startup opportunities in the State of Qatar as well as the initiatives of Business Start Up Qatar.