The Sultanate now has a platform for developing and nurturing entrepreneurship. Called OM.HUB, the entrepreneurship platform, a venture of National Business Centre (NBC) of Public Establishment for Industrial Estates (PEIE), was inaugurated by Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry, at NBC in Knowledge Oasis Muscat.
It has been developed in cooperation with Oman Oil Company (OOC), Oman India Fertilizer Company (OMIFCO) and Oman Telecommunications Company (Omantel). An agreement of cooperation was signed on the occasion by the four partners to manage and operate the platform.
Its objective is to assist small and medium-size enterprises (SMEs) by “creating a fully-equipped centre that provides support in the creation of entrepreneurs, from the start of an idea to a fully established company”.
Dr Al Sunaidy said: “In this venture, instead of entrepreneurs, focus will be on companies interested in helping entrepreneurs, but do not know how to do it. They come to the hub, bring with them their strengths and capabilities, and create an environment to promote new ventures.”
According to the minister, another difference between OM.HUB and other initiatives is the focus on acceleration of projects.
“The hub looks at entities from being a micro company to becoming a medium-sized or a large company.
I think it is very important to see accelerators. For the last three to four years we have concentrated on young entrepreneurs, but when we introduce accelerators we bring in partnerships, bigger companies that will invest in your company and make it an even bigger company,” explained Dr Al Sunaidy.
The location of the hub is expected to be another advantage as it is just 3 km from 12,000 college students, he said.
“It is 3 km from the headquarters of hundreds of factories and firms. I urge the companies in Oman to come into this hub and bring in their programmes, which will allow us to expand the hub and take it to other cities,” said Dr Al Sunaidy.
The centre hosts companies that are already established such as Injaz programme and Oman Technology Fund’s accelerator programme, which aim to develop business ideas in the ICT (information and communications technologies) sector.
Hilal bin Hamad al Hasani CEO of PEIE, said the OM.HUB, spanning an area of 456 square metres, is divided into a joint work area that can host 28 candidates and an open gathering area.
“OM.HUB is designed to provide entrepreneurs with one of the most motivating spaces that help entrepreneurship and businesses thrive.”
He added, “The hub is close to NBC incubator, ITA’s SAS incubator, Oman Investment Fund’s accelerator programme, two colleges, in addition to Sultan Qaboos University. It will enhance collaboration between these bodies to support entrepreneurship.”
Isam bin Saud al Zadjali, CEO of Oman Oil, said the project is part of Oman Oil Company’s (OOC) “strategy to support entrepreneurship and encourage the younger generation to enter the world of entrepreneurship”. This, he said, will contribute to the advancement of national economy.
“OOC strives to encourage young entrepreneurs to play an effective role in creating a diversified economy, based on knowledge and innovation,” Al Zadjali said.
“Recognised as the first of its kind in the Sultanate, OM.HUB is well suited for the needs of entrepreneurs, as it is designed to turn crystallising ideas into a growing business.”
Talal al Mamari, CEO of Omantel, said: “We are proud to work together with our partners to establish OM.HUB platform, which aims at supporting entrepreneurs.”
“This is part of Omantel’s initiatives in supporting SMEs, Omani youth and the efforts to diversify national economy” he said.
OM.HUB will host the launch and implementation of the business development programme supported by OMIFCO.
OMIFCO is introducing its programme Wasel.
According to Qasim al Balushi, CSR Manager at OMIFCO: “It is an initiative in which companies, after three years, will be given all requirements for expansion and increasing revenue as well as increasing their manpower. They will also be able to employ more Omanis while growing their wealth in the future.”
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