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Muscat: Oman Emerging Startups Initiative has announced the launch of an accelerator in partnership with the Small and Medium Enterprises Development Authority (SMEDA) and the Public Industrial Areas Agency (Madayn).
The accelerator will host individuals and SMEs through two different tracks. The first track, the idea stage track, will host individuals with innovative ideas and entrepreneurs who want to transform their ideas into products or services in various industries. On the other hand, the pre-seed stage track will target SMEs in the healthcare, food safety, tourism and real estate industries.
Under the program, the accelerator aims to support the growth and expansion of startups focusing on innovation and technology in the industrial sector. In addition, financing opportunities, comprehensive training, mentoring and consulting are provided to ensure the success and growth of startups.
In addition, the program states that empowering innovators and supporting the establishment of effective start-ups, connecting them with business accelerators and investors to support their expansion locally, regionally and globally is another goal of the accelerator. In addition, it also supports the application of advanced innovation and technology in various industries and sectors through the opportunities provided by the accelerator.
Other services the accelerator will provide include access to venture capital and angel investors, network-building opportunities, access to international exhibitions, professional training and consulting services, and use of office space.
The program will target 40 startups and will run for four months from September to December this year at the Knowledge Oasis Muscat (KOM) in Muscat. The deadline for applications is August 28, 2024. Applicants will go through three stages: a registration stage, a preliminary classification stage, and an interview and assessment stage.
Earlier this year, the Rising Oman Startup Initiative, launched under the patronage of His Highness Sheikh Saeed Bilallab bin Haitham Al Said, announced that it was launching a venture capital fund under the Oman Future Fund to support technology startups.
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