SALALAH: The Dhofar branch of Oman Chamber of Commerce and Industry, in collaboration with Oman Investment Authority, on Monday organised the second awareness meeting for the Future Fund Oman.
The meeting aims to promote economic diversification, support innovation in the local market, and contribute to the growth of startups and innovative projects.
The meeting covered the mechanisms for registration and the requirements for targeted companies, which include submitting financial statements, five-year employment plans, and a feasibility study.
It was noted that 90 per cent of the fund is allocated to support large-scale projects, while 10 per cent is dedicated to supporting small and medium enterprises (SMEs), with the goal of enhancing their market value and ensuring their sustainability.
The meeting included a visual presentation that provided a general overview of the fund, covering its target sectors, the establishment and early growth phases, fund governance, and the project selection mechanism.
A discussion panel, featuring several specialists from the Future Fund Oman, addressed various topics. These included the differences between SMEs, startups, and venture capital; the challenges and obstacles to investing in startups and SMEs; and promising investment opportunities within the sector.
It is worth noting that the fund's objectives are to boost the economy, empower the private sector, support SMEs, encourage venture capital, contribute to economic diversification, engage in investment partnerships, handle government financing projects, and attract foreign investment. - ONA
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