Qatar drives strong digital growth with nearly QR180m in startup revenues
<p>Doha, Qatar: Qatar has driven significant digital growth in Qatar, resulting in the registration of 130 startups, generating over QR178m in revenue, and more than QR316m in raised capital, according to the Ministry of Communications and Information Technology (MCIT).</p> <p>The Ministry, on its X platform, stated that this has signaled a major leap forward in creating 1,485 local jobs by…
Doha, Qatar - Qatar has made significant strides in digital growth, registering 130 startups that collectively generated over QR178 million in revenue and raised more than QR316 million in capital, according to the Ministry of Communications and Information Technology (MCIT). This development has led to the creation of 1,485 local jobs through various tech-driven initiatives.
The TASMU Accelerator, Digital Incubation Center, Scale Now Program, and SME GO DIGITAL platform have played pivotal roles in fostering a thriving digital ecosystem.
The Digital Incubation Center has nurtured 411 startups and supported 1,078 entrepreneurs, including 167 Qatari and 256 female entrepreneurs, with 56 being Qatar nationals. TASMU Accelerator has positioned Qatar as a global hub for high-growth tech innovation, with 45 startups from 78 countries establishing operations locally. These entities have collectively generated a valuation of QR10.2 billion, achieved QR1.6 billion in sales, and raised QR1 billion in funding since their inception.
The Scale Now Program supports companies expanding internationally, with 276 applications and 41 companies supported thus far, facilitating over QR52 million in funding. The SME GO DIGITAL program has assisted 220 small and medium enterprises by assessing them and providing tailored digital transformation plans. This initiative has included 26 awareness sessions, 108 business-matching sessions, and the onboarding of 61 digital service providers, leading to 30 signed agreements between businesses and technology solution providers.
MCIT emphasized that these achievements reflect Qatar's commitment to entrepreneurs, fostering an integrated digital environment that drives innovation, growth, and a knowledge-based economy.
Written by urgent.news from The Peninsula Qatar's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
