MUSCAT: The Digital Cooperation Organisation (DCO) — the world’s foremost international governmental organisation focused on promoting a sustainable digital economy — has recently released the Startup Country Guide 2024 manual to support entrepreneurs navigating Oman’s startup ecosystem.
The guide provides in-depth insights into Oman’s legal structures, tax framework, government incentives and sectoral opportunities.
The report highlighted Oman’s efforts in driving economic diversification and establishing a digital economy.
“Oman’s forward-looking approach towards development, encapsulated in Oman Vision 2040, seeks to transform the nation’s economy from a dependency on oil and gas to a diversified, knowledge-based model.
With initiatives like the Oman Future Fund and the National Initiative for Artificial Intelligence (AI), accompanying a substantial budget allocation, the country is proactively advancing economic diversification. The rising Omani startups programme strives to foster innovation, empowers startup establishment, facilitates business connections and pinpoints investment prospects”, it noted
In addition to highlighting promising sectors, the guide outlines the significance of support programmes rolled out by the government. “Comprising comprehensive support at all entrepreneurial stages, the programme leverages key partnerships, such as Omantel Labs and ITHCA Group, to offer invaluable resources for startups, including fintech, 5G, Internet of things (IoT) and more.
Additionally, the Oman Technology Fund’s (OTF) Techween pre-seed fund programme provides funding, collaborative workspaces and mentorship, reinforcing Oman’s position in the regional startup landscape.
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