ITHCA Group — the technology investment arm of the Oman Investment Authority (OIA) — has announced on Tuesday, December 16, 2025, the launch of an accelerator programme and a venture investment initiative aimed at strengthening Omani–Saudi technology cooperation.
First to be unveiled was ‘Bawabat’, an accelerator designed to enable Omani technology startups to enter and scale within the Saudi market. The accelerator is the result of a collaboration between ITHCA Group, Omani technology company al Jabr, and the National Technology Development Programme (NTDP) in the Kingdom of Saudi Arabia.
The six-month programme aims to connect Omani startups with investors while supporting their entry into the Saudi market. Participating startups are eligible to receive exclusive investment of up to USD 100,000 from the OTF SCALE Fund.
In addition to funding, the accelerator offers business development support, cross-border relationship building, and hands-on support in localisation, product testing, and validating market readiness.
Mohammed bin Salem al Wahibi, Chief Executive Officer of al Jabr Company, said: “Bawabat is not merely a support programme, but a practical bridge and an integrated pathway that shortens the journey for Omani startups entering the Saudi market in a structured and well-studied manner.”
He added: “True expansion is achieved through trusted cross-border relationships, on-the-ground validation of product readiness, and operational and investment partnerships built on clear market needs and sound business models.”
Ibrahim Nimas, Chief Executive Officer of the National Technology Development Programme (NTDP), highlighted the shared regional vision behind the initiative. “Saudi Arabia and the Sultanate of Oman, alongside other GCC countries, share a clear vision to support technology entrepreneurship and strengthen startup growth across the region,” he said.
“Through this collaboration, Omani and Saudi companies will be able to enter new regional markets, connect with investors and partners, and seize growth opportunities within the regional ecosystem,” he added.
Moreover, ITHCA Group announced the signing of an investment agreement with Vision Ventures, a Saudi Arabia-based venture capital fund recognised for its active role in financing early-stage technology startups across the region.
The agreement was signed by Eng. Said bin Abdullah al Mandhari, Chief Executive Officer of ITHCA Group, and Qais al Issa, Co-founder and Chief Executive Officer of Vision Ventures.
“We are proud of this partnership with ITHCA Group, which represents a strategic step in supporting Omani technology companies and linking them to the regional investment ecosystem,” Al Issa said.
“Through this collaboration, we look forward to accelerating growth pathways and opening high-quality funding and partnership opportunities that translate into sustainable economic impact.”
During the event, ITHCA Group also announced the rebranding of the ‘Idea Stage’ fund to ‘OTF SCALE.’ Managed by ITHCA Group in partnership with al Jabr Company, the fund has completed 36 investments since its establishment, with 11 per cent of portfolio companies securing follow-on funding within a period of no more than 15 months.
Maha bint Mohammed al Balushi, Director General of Venture Capital Funds Management at ITHCA Group, said: “The OTF SCALE brand combines the legacy of the Oman Technology Fund with a forward-looking vision focused on scale and impact.”
She added: “It reflects our mission of elevating ideas, empowering entrepreneurs, and accelerating project growth toward tangible economic and regional impact.”
OTF SCALE focuses on supporting founders at the earliest stages of company formation, prioritising investments in artificial intelligence, financial technology, software, and digital services, in line with high-growth sectors shaping the future digital economy.
Commenting on the announcements, Eng. Said bin Abdullah al Mandhari, Chief Executive Officer of ITHCA Group, said: “The initiatives announced today represent a qualitative leap in supporting innovation and technology in the Sultanate of Oman. They open wider horizons for entrepreneurs to enter regional markets with strength and confidence, particularly the Saudi market.”
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