The senior officials from the Ministry of Transport and Communications; Digital Incubation Center, and other officials, with the 27 graduating digital startup companies at a ceremony in Doha recently.
Doha: The Ministry of Transport and Communications’ (MoTC) Digital Incubation Center (DIC) has graduated 27 digital startup companies which completed their incubation in January. The entrepreneurs were recognised at a ceremony, which was organised recently in the presence of Reem Al Mansoori, Assistant Undersecretary of Digital Society Development at MoTC, and was attended by senior officials.
Speaking during the graduation ceremony, DIC Manager Duha Ali Al Buhendi said: “We are proud to graduate 27 digital startups that completed their incubation in 2020, bringing the total number of successfully graduated companies since the establishment of DIC to 64 startups. These startups competed with over 250 innovative ideas during the second edition of IdeaCamp. They made it to the finals and won an incubation opportunity with the Digital Incubation Center”.
She added: “At DIC, we are proud that the total amount which was invested in our startups has reached QR13m which came from Qatar Development Bank, Qatar Science & Technology Park and from angel investors”.
Commenting on the occasion, Al Mansoori said: “We are delighted to witness the graduation of 27 startups. This is a milestone that shows the Digital Incubation Center’s commitment to provide the necessary support for digital startups as well as drive forward the growth of technology sector in Qatar.”
The DIC was created to boost ICT innovation in Qatar, particularly among young people at the critical early stages of starting or growing a technology-related business.
Michael Javier, CEO and Founder of Eventive and Cwallet, who was one of the graduating startups, added: “It was an overwhelming experience for Eventive and Cwallet, and both entities are proud to be born and raised here in DIC. Eventive was the technology partner in QITCOM 2019 for MoTC and made over QR1.5m worth of revenue from January 2019, when it started its operations. CWallet achieved over QR2m in terms of funds. So basically it was $1m worth of experience, aside from the wonderful impact from trainings and collaboration with fellow startups”.
