On May 3rd, 2019, ten Qatari SportsTech companies received $1.5 million in committed funding and secured a soft commitment of an additional $5 million in future funding.
On May 2nd, Qatar SportsTech, in conjunction with Qatar Development Bank and powered by Startupbootcamp, celebrated the first SportsTech Demo day in MENA (Middle East and North Africa) at Khalifa Stadium.
The ten SportsTech teams showcased a variety of innovative solutions ranging from wearables and equipment, fan engagement and experience, sports medical, e-sports, sports culture, sports tourism, team performance and analytics, to venue optimization and management.
Furthermore, the ten teams established partnerships with leading names in the sports industry and with key strategic organizations in the region, such as, Qatar Airways, Supreme Committee, QFC, Al Shaqab, FC Barcelona, US Professional Tennis Association and many more.
With the support of Qatar Development Bank (QDB), the ten teams have secured $400,000 in the form of facilities and services, and received a cash payment of $20,000. All ten companies have confirmed to form legal entities in Qatar.
Koen Bosma, the program Managing Director, stated the following about the future of Qatar SportsTech: “2019 was a time of new beginnings and what a start it has been! We have only scratched the surface of our potential. I am so excited to soon be welcoming new strategic partners to be joining Qatar SporstTech and to see more initiatives like QST shaping the entrepreneurial ecosystem in Doha. Watch this space!”.
About the Program:
“Qatar Sportstech is the leading accelerator program for innovative companies in the sports industry. It is an unparalleled platform for startups to proactively scale up their business and demonstrate their product to leading corporations, leading sporting events and the ever-growing sports community.
10 Sportstech companies will be selected for this intensive 3-month program that provides one-on-one mentorship from no less than 100 industry experts, personal office space in the Aspire Zone in Doha, seed funding and direct access to a highly international network of investors and corporate partners from all corners of the sports industry.
Qatar Development Bank has joined forces with the Aspire Zone Foundation, Ministry of Economy and Commerce, Qatar Financial Centre and Startupbootcamp to fund the Qatar Sportstech Accelerator. These key partners provide expertise, exposure, APIs and unprecedented access to their network of industry professionals from around the world.”‘