MUSCAT, MAY 13
GCC-based entrepreneurial reality television show Beban has announced in a recent post that it is accepting applications from entrepreneurs in the region, including the Sultanate of Oman.
The show - which is headed into its fourth season - allows entrepreneurs to pitch their businesses to a panel of investors in exchange for equity investments and potential business opportunities, and has raised over $6 million in investments over its first two seasons alone.
According to the show's website, the upcoming season is seeking revenue-generating businesses in their growth and expansion stage. Applicants must have fully operational business models and demonstrate scalability potential, among other criteria.
Established in 2022, the show was founded by Hope Ventures, the investment subsidiary of the Hope Fund—a fund established under the directive of the Bahraini monarch in 2022 to support local businesses.
Last season, the show collaborated with the Small and Medium Enterprises Development Authority, to accept pitches from Omani entrepreneurs for the first time.
In a statement last year, Qais Rashid al Tobi, General Supervisor of the Promising Omani Startups Programme at the Authority, underscored the significance of the collaboration. “This collaboration expands the potential for Oman's startups, by utilising the program's widespread success, promising opportunities, and connections to investors in various industries," he stated at the time.
The Chairman of the Board of Directors of Hope Fund, Ayman Tawfeeq al Moayed, shared that the programme will equip Omani entrepreneurs with the necessary tools to develop their businesses.
"This collaboration with the Small and Medium Enterprises Development Authority will equip entrepreneurs and existing business owners in the Sultanate of Oman with the tools they need to develop their businesses while showcasing them regionally through the program, thereby enhancing knowledge exchange among entrepreneurs." Last season, Omani construction technology company Innotech won $500,000.
Interested applicants can apply online before June 6, 2024.
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