Qatar's Digital Incubation Center Reports 411 Startups and $48.8M in Revenue
Startups backed by Qatar's national incubation programme have raised $86.6 million since 2011, the communications ministry says.
Tariq Benali Tariq Benali covers business and corporate news across the UAE and MENA for Anecdoted, tracking the deals, leadership moves and regulatory shifts behind the region's companies. tariq@anecdoted.com
Qatar's Digital Incubation Center has taken 411 startups through its programme since it was established in 2011. Together those companies have generated $48.8 million (QAR 178 million) in revenue and raised $86.6 million (QAR 316 million) in funding, according to figures published by the Ministry of Communications and Information Technology.
The centre has supported 1,078 entrepreneurs over that period. The group includes 167 Qatari founders and 256 women, 56 of whom hold Qatari nationality. Along the way, 130 companies have been formed and 1,485 jobs created.
The ministry presented the totals as a measure of its work on the country's digital economy, describing its goal as an integrated ecosystem in which innovation can take hold and grow.
"These achievements reflect Qatar's commitment and support for entrepreneurs in creating an integrated digital environment that enables innovation, drives growth, and builds a knowledge-based economy," the ministry said.
TASMU Accelerator pulls applicants from 78 countries
Startups based in 78 countries have applied to the TASMU Accelerator, and 45 of them went on to set up operations in Qatar. More than 3,000 hours of mentorship, workshops and specialised training have been delivered through the programme. Companies it has backed have recorded $438.6 million (QAR 1.6 billion) in sales and raised $274 million (QAR 1 billion) in funding since it began. The ministry credits the accelerator with carrying Qatar's tech sector beyond its own borders.
Scale Now
The Scale Now Program, aimed at companies preparing to expand, has received 276 applications and supported 41 businesses so far. A further 12 are working through Cycle 4. The programme has backed more than $14.3 million (QAR 52 million) in funding.
Smaller firms
On the SME side, 220 companies have been assessed and handed digital transformation plans tailored to how they operate. The ministry also ran 26 awareness sessions and 108 business-matching sessions, and brought 61 digital service providers onto its roster. Thirty agreements have been signed between businesses and technology providers.
The incubation centre remains the largest of the three efforts by company count, with 411 startups on its books and 130 registered companies to show for it.
