Start-ups in Oman are growing at a rate of 10 per cent every year, according to a top official. Speaking at the first-of-its-kind Investment and Start-Up Summit in Muscat on Monday, Halima bint Rashid al Zariyah, Chairperson of Authority for Small and Medium Enterprises (ASMED) said, "The forum, one of the initiatives of the Rising Omani Start-up Programme, is a true translation of Oman Vision 2040's priorities of economic diversification and financial sustainability. It is also a reflection of the keenness of His Majesty Sultan Haitham bin Tarik to build a vibrant and prosperous economy by providing a stimulating environment for entrepreneurs and start-ups, supporting them at all stages of their projects with all capabilities, and strengthening their presence regionally and internationally."
His Highness Sayyid Belarab bin Haitham al Said, Honorary President of the Rising Omani Start-up Programme, presided over Investment and Start-up Summit, organised by the Authority for Small and Medium Enterprises (ASMED) at Oman Convention and Exhibition Centre, with the participation of more than 50 start-ups in technology and innovation.
The forum brings international experts, investors and fastest growing start-ups.
Company promoters will interact with international experts on guidance on global expansion and investment opportunities.
Several international experts and companies presented the state of the global start-up ecosystem and strategies for accelerated development. More than 3,000 startups are emerging globally, producing global business models that promote global reach.
Philipp Lemmerz, a partner in PwC, spoke about the importance of entrepreneurship and innovation for the regional ecosystem.
Andrew Roughan, Chief Executive Officer of Plexal, spoke about Oman's startup landscape and future growth potential. Gulf expert Nayef bin Saleh al Athel talked about investing in start-ups and why SMEs and start-ups should look at the capital markets and international listing venues to help fund their growth.
Tariq al Harbi, CEO of Zamili, said his portal allows small and medium enterprises to access youth skills and services related to social media channels including creative skills such as designing, photography, and digital marketing. He also added that the participation in the summit introduced government agencies and investors to the platform and its mechanism.
Fatima al Barashdi, a translator and sign language trainer at the Omani Sign Translation Application 'SignBook', said: "The application is for people with hearing disabilities. The company seeks to facilitate the method of communication between such people in an interactive environment that integrates them into society. It helps people with hearing disabilities who are present in the forum to connect with investors using sign language."
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