Muscat: The Supervisory Committee of Omani Promising Start-ups Programme on Sunday held its first meeting for 2023. The meeting was chaired by HH Sayyid Bilarab bin Haitham al Said.
The programme seeks to activate the system of companies based on technology and innovation in Oman and contribute to spreading the culture of entrepreneurship in educational institutions. It also aims to impart social awareness about the importance of start-ups and upgrade them to operate in the regional and global levels.
Other objectives of the programme include enhancing investments offered to start-ups, linking them with in-country value (ICV) and finding sustainable financing and investment solutions that suit the needs of nascent companies. The programme figures among the priorities of Oman Vision 2040 in the field of economic diversification and financial sustainability.
The meeting discussed the selection of representatives for start-ups in the Supervisory Committee, implementing a programme of field visits to Omani start-ups, devising plans for the “Omani Promising Start-ups Programme”, espousing strategic performance indicators (for 2023-2025) and launching a package of incentives for Omani start-ups.
The Omani Promising Start-ups Programme is implemented in cooperation with the Authority for Small and Medium Enterprises Development (ASMED), the Ministry of Transport, Communications and Information Technology, the Ministry of Higher Education, Research and Innovation, the Ministry of Economy and the Oman Information Communication Technologies Group (ITHCA).
The programme reflects the keenness of His Majesty Sultan Haitham bin Tarik to establish a vibrant and prosperous economy by furnishing proper environment for entrepreneurs and start-ups and supporting their projects and consolidating their presence regionally and internationally.
The programme focuses on three pillars of significance to start-ups: capacity building, funding and investment and providing legal support for start-ups.
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