Staff Reporter –
Muscat, Nov 14 –
The Oman Technology Fund (OTF) on Tuesday signed agreements with three Irish institutions — Enterprise Ireland, NDRC and iheed — aimed at supporting the growth of tech-startups in the Sultanate.
The agreements were signed at the Ministry of Commerce and Industry in the presence of Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry. Also present was a ministerial delegation from Ireland led by the Vice-Prime Minister, and comprising a number of business figures. OTF was represented by its CEO Yousef al Harthi.
As part of the pact with OTF, Enterprise Ireland has pledged to conduct training programmes, and support the exchange of technology and innovation with local tech startups.
Iheed, for its part, inked a deal with Jasoor — the investment programme of OFT — to share their expertise in healthcare related start-ups and training services. Jasoor Executive Manager Ismail al Harthi signed the agreement on behalf of OTF. In the third agreement, signed on OTF’s behalf by Executive Manager Maha al Balushi, commits NDRC to providing training and mentorship assistance to start-ups supported by OTF’s investment programme Techween. The OTF specialises in investing in startup companies and information technology innovation in Oman and the region.
The Fund includes three programmes as follows: Incubation Fund, Acceleration Fund and Growth Fund. All of these programmes are managed in cooperation with international institutions.