The National Business Centre (NBC), which is part of the Public Establishment for Industrial Estates (Madayn), organised an Open Day at Riyada to spread awareness on the services and incentives offered by NBC and Riyada incubators for the Omani entrepreneurs and business owners.
Riyada officials pointed out that the revenues of the incubated companies amounted to RO 1 million in 2019. The Public Authority for Small and Medium Enterprises Development (Riyada) was established to develop small and medium enterprises and strengthen of their contribution to the local economy through a wide range of business advisory services and training programmes.
The Riyada incubator was launched in December 2014 and it comprises 23 offices, four meeting halls, a training hall, among other facilities. In May 2015, a Memorandum of Understanding was signed between Riyada and NBC for the latter to manage Riyada incubator.
It should be noted that NBC is an initiative launched by Madayn at the Knowledge Oasis Muscat (KOM) to offer promising Omani entrepreneurs a platform to develop their business ideas and advance them into growing ventures. The centre aims at becoming the premier platform for Omani entrepreneurs through facilitating and supporting the growth of investable ideas into successful businesses; building entrepreneurial skills through dedicated and focused training, coaching and mentoring; and providing business support facilities from office space, administrative support, financial support to consultancy services that are crucial in ensuring the success and survival of new ventures.
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