Oman Technology Fund tops MENA region in venture investment

Muscat: Oman Technology Fund (otf) has been ranked in the first place in the MENA region among a number of other technology investment funds at the H1 2020 MENA Venture Investment report conducted by MAGNiTT, according to Engineer Yusuf bin Ali al Harthi, CEO of Oman Technology Fund.

In addition, the Sultanate has maintained the fourth place in the MENA region in technology investment with 31 deals conducted in the first half of this year. The biggest contributors to the increase in the number of deals are the accelerator programmes, with Oman Technology Fund (otf) accelerating the majority of the start-ups in the country through its Techween, Wadi and Jasoor accelerator programmes.

Al Harthi said the Oman Technology Fund’s ranking ahead of investment funds in the Middle East and North Africa (MENA) region in venture investment is a translation of the efforts being made by the Fund to invest in the active technology enterprises in various innovation fields. It also indicates the Fund’s ability to expand in the region and to make its way globally.

During the first half of this year the focus was laid on the activation of the RO 1M initiative which saw the Fund investing in a number of applications and platforms designed to combat the COVID-19 pandemic as well as supporting young Omani innovators and creators of digital platforms. — ONA

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