The Small and Medium Enterprises Development Authority (SMEDA) recently convened a meeting with family business owners and project leaders to encourage investment in Omani startups and highlight the significance of angel financing.
Recognising family-owned enterprises as key drivers of the national economy, the meeting focused on strengthening partnerships between business owners and entrepreneurs. The event also included decision-makers from various entrepreneurship ecosystem partners, entrepreneurs, startup owners, and advocates of innovative financing in Oman.
Fathiya bint Juma al Hakamaniyah, Director of the Enterprise Investment Department at SMEDA, emphasised, "This meeting is a continuation of the SMEDA’s efforts to enhance the entrepreneurship environment and spread the culture of innovative financing. This type of financing is distinguished by its focus on leveraging private capital to support high-quality, sustainable economic projects." The meeting featured a presentation on the OQAL project from Saudi Arabia, a platform that connects angel investors with startup owners to form economically viable partnerships. Participants highlighted that angel financing serves as a critical bridge for determined entrepreneurs to secure initial funding from specific investors, enabling their startups to grow and expand.
Angel investors are individuals with substantial financial resources and a high tolerance for the risks associated with early-stage startup investments. Their expertise in the operations and growth of startups makes them ideal partners for nurturing and developing promising projects in Oman.
Reflecting SMEDA's commitment to innovative financing, the SMEDA has conducted a series of workshops across various governorates and educational institutions in Oman.
These workshops aim to educate entrepreneurs and innovators on the importance of innovative financing mechanisms and how to leverage them to support and develop their ventures.
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