MUSCAT: The Rising Omani Startup Programme announced the launch of an accelerator in cooperation with the SME Development Authority (SMEDA) and The Public Establishment for Industrial Estates (Madayn).
The accelerator will accept both individuals and SMEs through two distinct tracks. The first - the idea phase track - will accept individuals with innovative ideas and entrepreneurs looking to turn their ideas into products or services in all sectors. The pre-seed phase track, on the other hand, will target SMEs in the health, food security, tourism and real estate sectors.
According to the programme, the accelerator aims to support the growth and expansion of startups focused on innovation and technology in the industrial sector. This is in addition to providing funding opportunities, integrated training, guidance, and consultancy to ensure the success and growth of startups.
Furthermore, the programme cites empowering innovators and supporting the establishment of effective startups, linking them to business accelerators and investors to support their expansion locally, regionally, and globally as another goal of the accelerator. In addition, it supports the employment of advanced innovation and technologies in various sectors and industries through the opportunities provided by the accelerator.
Other services which will be provided by the accelerator include access to venture capital and angel investors, network building opportunities, the opportunity to participate in international exhibitions, specialised training and consultancy services and access to office spaces.
The programme will target 40 startups and will take course over a period of four months starting from September of this year to December, at Knowledge Oasis Muscat (KOM) in Muscat. The last date for registration is August 28, 2024 Applicants will go through three phases: a registration phase, initial sorting phase and an interview and evaluation phase.
Earlier this year, the Rising Omani Startup Programme, which was launched under the auspices of HH Sayyid Bilarab bin Haitham al Said, announced that it is in the process of launching a venture capital fund under the Oman Future Fund, in an effort to support technology start-ups.
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