British-Omani Technology Gateway to help startups

Muscat - 

Oman Technology Fund (OTF) has signed a memorandum of understanding (MoU) with British venture capital and private equity company Hambro Perks (HP) to establish British-Omani Technology Gateway.

Yousef al Harthy, CEO of OTF, and Dominic Perks, CEO and co-founder of Hambro Perks, signed the MoU at HP’s office in London. According to OTF, the gateway will facilitate the expansion of Omani technology startups into the British market; it will help reduce the cost of entering new markets.

The gateway will allow UK-based startups from HP’s portfolio to access Oman’s technology eco-system through OTF. It will also allow technology startups from OTF’s portfolio and various accelerator programmes an opportunity to be based at HP’s eco-system and working space in Central London, with a first cohort planned in November 2018, according to a Forbes Middle East report.

“The gateway establishes a close working relationship for technology investment opportunities between the UK and Oman,” Perks told Forbes.

“We are glad to be able to support UK-based startups that are looking to expand into the Omani market and the wider Middle East region. Moreover, Oman and the region have various exciting opportunities for HP as we start to invest globally and we are excited to explore this potential with the help of OTF. It promises to be a fruitful, rewarding and long-term relationship,” he said.

Harthy said, “OTF is looking forward to start implementing this important MoU as it opens the doors for startups from both countries to expand into new markets more efficiently and with the help and support of our two organisations.”

OTF is backed by the Government of Oman in investing in emerging technology enterprises in Oman and the wider region.

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