A total of 130 startups in Qatar have generated more than $48.9M in revenue and raised over $86.6M in funding, according to the latest figures published by the country’s Ministry of Communications and Information Technology. The ministry did not specify the period covered by the data.
Technology-focused entrepreneurship support has also helped create 1,485 local jobs, the ministry said.
Qatar’s startup support ecosystem includes the TASMU Accelerator, the Digital Incubation Center, Scale Now and SME GO DIGITAL.
The Digital Incubation Center has supported 411 startups and 1,078 entrepreneurs, including 167 Qataris and 256 women, 56 of them Qatari. The center focuses on early-stage ideas and ventures.
TASMU has received applications from startups in 78 countries and helped establish 45 companies in Qatar. Participating startups have received more than 3,000 hours of mentoring, workshops and specialised training. Since its launch, they have generated $439.6M in sales and raised $274.7M in funding.
Scale Now has received 276 applications and supported 41 companies, including 12 in its fourth cohort. The programme has helped participants raise more than $14.3M.
SME GO DIGITAL has assessed 220 companies, created tailored digital transformation plans and supported 30 agreements between businesses and technology providers.
Source: Forbes Middle East
