Muscat – The Rising Omani Startup Programme marked the graduation of a batch from an accelerator initiative on Tuesday.

The accelerator is a collaboration with Authority for Small and Medium Enterprises Development (ASMED) and Industrial Innovation Academy of Public Establishment for Industrial Estates (Madayn).

Speaking at the ceremony, Abdulsalam al Murshidi, President of Oman Investment Authority, highlighted the progress achieved by the participating startups. “These youth-driven products and innovations have developed to the extent of being ready for export from Oman,” he said.

Murshidi also emphasised the potential of the digital economy as a critical sector for youth and its contribution to other industries offering products or services. He underlined the importance of these startup projects in boosting Oman’s GDP and creating job opportunities.

Halima bint Rashid al Zaria, Chairperson of ASMED, stated that the latest batch included 26 emerging companies and reaffirmed the authority’s commitment to supporting Omani startups. “For the next batch, we plan to expand to multiple governorates and include specialised accelerators within the Industrial Innovation Academy.”

The accelerator saw 46 startups and innovative ideas participate in its idea and pre-seed categories. These startups represented diverse sectors, including tourism, real estate, health and food security. Over four months, participants received 290 hours of training in areas such as entrepreneurship fundamentals, marketing, brand building, investment readiness, product development and market validation.

The programme led to tangible results, with eight products developed in the idea category and 13 in the pre-seed category. Additionally, seven products in the idea category and 11 in the pre-seed category achieved market readiness.

The Rising Omani Startup Programme continues to provide opportunities for young entrepreneurs, aiming to foster innovation and create a competitive edge for Omani businesses on the global stage.