MUSCAT: Under the patronage of His Highness Sayyid Bilarab bin Haitham al Said, the Honorary President of the Omani Promising Startups Program, the Omani Promising Startups Forum launched at the Oman Convention and Exhibition Center on Monday, November 4, with the attendance of more than 1500 participants. The program highlighted its notable initiatives and presented the results of an analytical study on the startup ecosystem in the Sultanate of Oman.
The forum, attended by a diverse audience of entrepreneurs, students, experts, academics, and enthusiasts, seeks to shed light on the initiatives and achievements of the Omani Promising Startups Program. It aims to promote and empower the culture of entrepreneurship and startups, exploring the latest developments and trends while benefiting from international experiences and practices to envision the future of the sector.
Diverse workshops are organized in the three main axes of the Omani Promising Startups Program: capacity-building for startups, financing and investment in startups, and the legislative environment supporting startups. Informative dialogue sessions will conclude each axis.
Stefan Kuster, the Chief Strategy Officer of Startup Genome, presented an overview of the future of the startup sector based on the analytical study's results, focusing on innovation and technology-driven startups in Oman. Dr Hussain al Salmi, Deputy President of the German University for Administrative and Financial Affairs, discussed the role of education in promoting entrepreneurship and innovation.
Insights from Oman Telecommunications Company (Omantel) will be shared by Saif al Maamari regarding Omantel's innovation labs in acceleration and incubation programs. Camilo Doza, Founder and CEO of Doza Holdings, will discuss building high capabilities for startups with the aim of expanding into global markets.
On the legislative environment axis, Mutasim al Sariri, General Manager of Value Added in Oman Investment Authority, will present supportive policies for the growth of startups, and Ketna Hergi, CEO of Coot Note Venture, will discuss the role of business accelerators in successful projects.
Adam Bergy, Development Manager at Startup Genome, will present on legislation and financial controls for startups. Hamoud al Hamdani, the Chairman of the Technical Committee for the Omani Promising Startups Program, will conclude the axis with a presentation on the startup ecosystem in Oman.
On the financing and investment axis, Jacopo Lupo, CEO of EIBAN, will present on angel investment, and Khaled al Reis, Project and Marketing Manager at Bahrain's Future Fund, will discuss crowdfunding's role in promoting economic development. The axis will conclude with a presentation on venture capital in startup sectors, shedding light on potential challenges in startup investments, presented by Maha al Balushi, General Manager of Strategy at the Empowerment Group.
Halima bint Rashid al Zar'ei, President of the Small and Medium Enterprises Development Authority, emphasized that the program's success is linked to the efforts of the unified team, following the approach of integration and harmony between government and private institutions inside and outside Oman. This collaboration aims to empower future generations of entrepreneurs to continue their growth locally and globally.
During the 2023 forum, the program highlighted key initiatives, including a podcast on startups, the launch of three children's stories, an educational game on startups in collaboration with the Islamic Bank Al Az'ar, the release of six guidance manuals, an entrepreneurship card for startups, an online educational course for startups on the Entrepreneurship Academy platform, training camps for school and university students, the Start-Up Weekend event for universities, allocating 10% of the Future Fund's capital to small and medium enterprises and startups, launching an investment page for Omani startups on the Dealroom platform, and reviewing and honoring winning ideas in the Entrepreneurial Ideas competition.
On the sidelines of the forum, a startup exhibition will showcase 50 technology and innovation-based startups from various sectors, presenting their services and innovations to the public and visitors. The exhibition will also feature the winning projects from the Entrepreneurial Ideas competition, a collaboration between the Small and Medium Enterprises Development Authority, the Oman Investment Authority, and companies like Imkan Group, Nama Group, and OQ Group. The competition aimed to find solutions and initiatives for fifteen challenges facing these startups, resulting in twenty innovative ideas in these three areas.
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