Muscat: The Programme of Omani Promising Startups (POPS) on Wednesday launched a "Startup Accelerator Initiative” under the auspices of HH Sayyid Bilarab bin Haitham al Said, Honorary President of the POPS.
The initiative was launched in cooperation with the Authority for Small and Medium Enterprises Development (ASMED), the Public Establishment for Industrial Estates (Madayn), the Industrial Innovation Academy and a number of regional and international partners.
The initiative seeks to empower owners of innovative ideas, support the establishment of emerging Omani companies and link them to business and investment opportunities with the aim of supporting their expansion locally, regionally and globally.
The initiative benefits from advanced technologies in various sectors and industries through the opportunities provided by the Accelerator. It also facilitates financing opportunities, integrated training, guidance and consultations necessary to achieve success and growth for the startups.
The POPS programme focuses on activating the business accelerator through two main stages. The first is the “Idea Stage” which accommodates 20 innovative ideas from various economic sectors, with emphasis on enabling innovators and owners of pioneering ideas to develop innovative solutions in economic sectors and advanced technologies. It paves the way for entrepreneurs to transform their ideas into executable and scalable products and services.
The second stage (“pre-seed stage”) targets 20 projects in vital sectors like health, tourism, real estate, food security and public services. It serves as a strategic step to enable these projects to face future challenges and achieve sustainability in local and regional markets.
The Accelerator will provide a comprehensive set of services designed to meet the needs of startups. These include the following:
· Mentoring and guidance by a group of specialized experts and mentors;
· Training covering all aspects of entrepreneurship;
· Providing advanced office spaces that enhance the environment of innovation and entrepreneurship;
· Offering investment opportunities to help companies expand regionally and internationally; and
· Providing integrated marketing support to develop strong professional relationships through international and regional events and exhibitions.
The accelerator also provides an exceptional opportunity for incubation after graduation, establishing an ideal environment that allows start-ups to test and develop their ideas and transform them into practical solutions that meet market needs.
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