Posted on February 01, 2019

The Ministry of Transport and Communications’ Digital Incubation Center (DIC) will incubate 25 new startups this year.

The announcement was made during a ceremony held in the presence of Minister of Transport and Communications H E Jassim bin Saif Al Sulaiti. The ceremony was organised by DIC to celebrate the graduation of nine companies that completed their incubation in 2018. The amount invested in start-ups last year reached QR4.7m, said a senior official. “The total amount which was invested in our startups in 2018 was QR4.7m which came from Qatar Development Bank, Qatar Science & Technology Park and from angel investors,” Duha Ali Al Buhendi, Digital Incubation Center Manager, Ministry of Transport and Communications told The Peninsula.

“The incubator is proud to graduate nine companies that completed its incubation in 2018, bringing the total number of companies successfully graduated since the establishment of the incubator to 36 startups, “ she added. The Digital Incubation Center (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. She said that nine companies completed their incubation period in 2018, bringing the total number of companies successfully graduated since the establishment of the Center to 36 companies.

“25 new creative ideas have been incubated in the incubator program, bringing the total number of startups currently incubated in the DIC to 58 startups, of which 12 are in the growing stage,” she added. In 2018 incubators were able to provide 203 jobs, bringing the total number of jobs provided by the incubator companies since its inception to about 402 jobs.

source: The Peninsula

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