Bridging the gap between academia and entrepreneurship
Oman's commitment to transforming student graduation projects into innovative startups marks a significant milestone in integrating academia with entrepreneurship.
Through targeted initiatives, the Sultanate of Oman aims to foster economic diversification by equipping students with the tools to turn academic research into commercially viable businesses.
With a focus on cutting-edge fields such as fintech, water technologies and emerging digital solutions, this strategic effort strengthens Oman's role in global problem-solving while enhancing its economic resilience.
A key component of this vision is the 'Upgrade' programme, initially launched in 2018 to support the development of ICT startups. Originally designed to encourage innovation in smart city solutions, IoT applications, e-government services and information security, the initiative has evolved to include broader technological sectors.
By expanding its focus, Oman continues to invest in a knowledge-driven economy, ensuring that its graduates contribute to sustainable development and technological advancement.
The Ministry of Higher Education, Research and Innovation has now opened registration for the 8th edition of the Upgrade programme, running until May 31, 2025.
This edition includes three competition tracks: Emerging Technologies, Water and Financial Technologies (Fintech). Winning teams will receive incubation, specialised training and business development support to help bring their ideas to market.
Eligible applicants must be final-year students or recent graduates from higher education institutions in Oman. Applications must be submitted electronically through the Oman Research Portal.
The Upgrade programme assesses 300+ student projects annually, aiming to convert at least 1% into successful startups. It collaborates with TRC, Omantel, SAS for Entrepreneurship, Riyada and Ibtikar Development Oman.
The 2024-2025 cycle offers seed funding, business incubation, networking opportunities and international internships, empowering young entrepreneurs to scale their ventures.
The initiative is supervised by the Ministry of Higher Education, Research and Innovation in collaboration with key public and private sector partners, including Omantel, the Ministry of Culture, Sports and Youth, the Ministry of Transport, Communications and Information Technology, the Public Authority for SME Development, Nama Water Services, Daleel Petroleum, the Industrial Innovation Academy, the Central Bank of Oman; and the National Bank of Oman.
After registration, a jury of programme partners selects the best projects for further development.
Beyond startup incubation, Oman is actively integrating AI and advanced digital technologies into its national agenda.
The National Programme for Artificial Intelligence and Advanced Digital Technologies (2024-2026), led by MoTCIT, aims to position Oman among the top 50 AI-ready nations. The Oman AI Summit 2025 will further strengthen collaboration between industry leaders and policymakers, reinforcing Oman's commitment to a digitally competitive future. The Upgrade programme follows a three-stage evaluation process, where experts select the most promising student-led startups for incubation.
Participants receive extensive business and marketing mentorship, with key stakeholders — including the Ministry of Higher Education, Research and Innovation, Omantel, the Oman Technology Fund (OTF), the Ministry of Culture, Sports and Youth; and the Authority for SME Development — offering financial, commercial and strategic support.
Twelve projects have already transformed into thriving startups, fostering self-employment and strengthening Oman's entrepreneurial ecosystem. By fostering innovation and equipping students with essential resources, Oman is paving the way for a knowledge-driven future. As digital transformation accelerates globally, initiatives like Upgrade play a crucial role in positioning the Sultanate of Oman as a leader in the evolving digital economy.
With a focus on cutting-edge fields such as fintech, water technologies and emerging digital solutions, this strategic effort strengthens Oman's role in global problem-solving while enhancing its economic resilience.
The writer is a Pakistan-based researcher and financial analyst.
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