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New Scale Award announced to address tech industry challenges, drive innovation

18 May 2024 New Scale Award announced to address tech industry challenges, drive innovation

Muscat – ITHCA Group, in collaboration with the Oman Investment Authority and the Central Bank of Oman (CBO), has introduced the Scale Award for emerging technology firms as part of the 33rd COMEX Global Technology Show, scheduled from May 27 to 30.

The purpose of this award is to bolster investment opportunities for emerging companies, both locally and internationally, aligning with the vision of the organising bodies. 

Its objectives include connecting winning companies with the relevant authorities, fostering investment dialogues between them, and translating innovative solutions into actionable initiatives that advance the companies’ operations.

Tahir bin Salim al Amri, executive president of the CBO, elucidated that the award is poised to positively influence the banking sector by exploring technical solutions to financial challenges. 

He expressed optimism regarding the award’s ability to fulfil its objectives and generate technical ideas that enrich the banking sector’s functionality.

Said bin Abdullah al Mandhari, CEO of ITHCA Group, affirmed that the Scale Award is designed to address a range of challenges encountered by companies under the Omani Investment Authority across diverse sectors. He emphasised that the award targets technology-driven startups participating in the COMEX exhibition or those associated with relevant startup ventures. 

Following an initial evaluation stage, finalists will be selected for further filtration based on competence and the quality of proposed solutions to the challenges.

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