Doha, June 12 (QNA) – Qatar Development Bank (QDB) concluded the activities of the "Qatar Innovation Hackathon 2024" today, which brought together business incubators and accelerators from various sectors under the theme "Launch Your Ideas Towards the Future."
Seven startups emerged victorious in the digital transformation category, while three companies won in the enterprise technology field at the Digital Incubator in partnership with "Ooredoo." Additionally, two startups won in the sports technology sector, and three companies won in the transportation technology sector in the Transportation Solutions Incubator in partnership with "Q-Auto" and "Volkswagen Qatar."
In the financial technology field, supported by Qatar Central Bank and Qatar Financial Centre, six companies won their respective challenges, while one company triumphed in the creative technology category.
On this occasion, Dr. Hamad Salem Mejegheer, Executive Director of Advisory Services and Incubators at Qatar Development Bank, affirmed the bank's commitment to supporting and enhancing the capabilities of Qatar’s entrepreneurial ecosystem to achieve a diverse and knowledge-based national economy.
Mejegheer stated, "We witnessed promising competition and exceptional innovation in various fields of the hackathon. We thank all applicants for their efforts and ideas, as well as the partners who contributed to the success of this edition."
He added, "This event represents a unique opportunity to provide support and enhance the capabilities of Qatar’s entrepreneurial ecosystem, which is in line with Qatar Development Bank's goals of achieving a diverse national economy." He also highlighted the remarkable performance of the startups and the benefits gained from participating in various events such as the Web Summit recently held in Qatar.
The winning companies received early-stage funding prizes of 25,000 Qatari riyals each, along with the opportunity for direct incubation in one of the incubation programs and access to investment opportunities.
Qatar Development Bank also presented several awards recognizing excellence in various aspects, including the Entrepreneurial Spirit Award from the Innovation Center at Hamad Bin Khalifa University, the Best Pitch Award from Microsoft, the AI Innovation Award from IBM, and the Design Innovation Award from Builder.ai.
This edition of the hackathon was designed in collaboration with 26 specialized partners, inviting all innovative and ambitious entrepreneurs to share their creative solutions in six specialized fields. Over 445 applications were received, from which 84 startups qualified, presenting innovative solutions and ideas in 17 challenges from various fields after receiving intensive training with 50 coaches, more than 450 mentoring sessions, and 25 workshops.
Several entities participated in organizing and implementing the activities, including "Ooredoo," "Q-Auto," the Innovation Center at Hamad Bin Khalifa University, "Microsoft Qatar," "IBM," "Edson X," "Builder.ai," and "Qatar Museums."
The hackathon challenges offered by the bank's incubators and accelerators annually help many entrepreneurs access exceptional opportunities in knowledge, funding, and mentorship and provide them with support through its incubation programs. (QNA)