Latest news with #PromisingOmaniStartupsProgramme
Observer
11-05-2025
- Business
- Observer
RO 37m financing programmes to boost entrepreneurs' diversity, sustainability
Muscat: Ten diverse financing programmes have been launched by the SME Development Authority (SMEDA) to empower entrepreneurs and meet their needs, ultimately enhancing their financial stability and capacity for expansion and development. The financing programmes cover essential areas such as financing industrial projects, developing working capital, supporting craft and productive enterprises, and financing incubators and accelerators. Additionally, there are programmes for contracts and emergency projects. The programmes have been well-received, with a total of 400 loan approvals, amounting to over RO 37,690,085. In order to enhance the innovation and entrepreneurship environment, the Authority has launched the Promising Omani Startups Programme in strategic partnership with various government agencies. This programme aims to promote the culture of startups in educational institutions, raise community awareness of their importance in supporting the national economy, empower individuals with innovative ideas, support the establishment of startups based on innovation and technology, and connect them to business, investment, and financing opportunities to enhance their competitiveness locally and globally. RO 37m financing programmes to boost entrepreneurs' diversity, sustainability As a result, 146 innovative startups have been established, and 62 entrepreneurs have received training in investment readiness and alternative financing in the past year (2024). Over 12,624 participants have benefited from programmes promoting a culture of entrepreneurship and alternative financing mechanisms. According to the Authority's statistics, 67 per cent of job opportunities created by financing programmes are for men, while 33 per cent are for women. The initiatives and programmes offered by the Authority reflect Oman Vision 2040, aiming to achieve sustainable development by boosting the entrepreneurship environment through financing, advisory solutions, and innovative programmes that contribute to building an integrated economic system supporting diversification and sustainability. The SME sector is expected to play a crucial role in strengthening Oman's position on the global economic map, fostering a culture of innovation and productivity. Entrepreneurs often require financial resources to turn their ideas into viable commercial projects, covering expenses like product development, market research, legal fees, and operational costs.
Muscat Daily
28-04-2025
- Business
- Muscat Daily
Sayyid Bilarab bin Haitham visits Thawani Technologies
Muscat – H H Sayyid Bilarab bin Haitham al Said, Honorary President of the Promising Omani Startups Programme, visited Thawani Technologies, the Sultanate's first licensed financial technology company, as part of a series of visits aimed at encouraging promising startups, listening to their ambitions, and enhancing their contribution to the national economy. Established in 2016, Thawani has swiftly positioned itself at the forefront of Oman's fintech sector, delivering innovative digital financial services that support the nation's drive towards digital transformation under Oman Vision 2040. During a tour of Thawani's headquarters, His Highness Bilarab was introduced to the company's specialised services, including smartphone payment solutions, biometric payment technologies utilising facial recognition and palm print authentication, as well as the deployment of artificial intelligence, deep learning, and secure payment card systems. The company also showcased its most prominent achievements, such as securing the Innovation Unit Award for Entrepreneurship in 2020 and the title of Best FinTech Company in the Middle East for 2024. In addition, Thawani outlined its ambitious plans for regional and international expansion, reinforcing the growing influence of Omani startups on the global stage. His Highness Bilarab commended Thawani for its success in leveraging modern technologies to strengthen the digital payments and collections ecosystem in the Sultanate. He underscored the importance of startups continually developing their capabilities and staying abreast of the latest global innovations. Accompanying His Highness during the visit were H E Eng Said bin Hamoud al Maawali, Minister of Transport, Communications and Information Technology. H E Dr Saif bin Abdullah al Hadabi, Undersecretary of the Ministry of Higher Education, Scientific Research and Innovation for Scientific Research and Innovation, Eng Said bin Abdullah al Mandhari, CEO of the Omani Information and Communications Technology Group (Ithkaa) along with members of the Supervisory Committee of the Promising Omani Startups Programme.
Muscat Daily
28-04-2025
- Business
- Muscat Daily
H H Bilarab visits Thawani Technologies
Muscat – H H Sayyid Bilarab bin Haitham al Said, Honorary President of the Promising Omani Startups Programme, visited Thawani Technologies, the Sultanate's first licensed financial technology company, as part of a series of visits aimed at encouraging promising startups, listening to their ambitions, and enhancing their contribution to the national economy. Established in 2016, Thawani has swiftly positioned itself at the forefront of Oman's fintech sector, delivering innovative digital financial services that support the nation's drive towards digital transformation under Oman Vision 2040. During a tour of Thawani's headquarters, His Highness Bilarab was introduced to the company's specialised services, including smartphone payment solutions, biometric payment technologies utilising facial recognition and palm print authentication, as well as the deployment of artificial intelligence, deep learning, and secure payment card systems. The company also showcased its most prominent achievements, such as securing the Innovation Unit Award for Entrepreneurship in 2020 and the title of Best FinTech Company in the Middle East for 2024. In addition, Thawani outlined its ambitious plans for regional and international expansion, reinforcing the growing influence of Omani startups on the global stage. His Highness Bilarab commended Thawani for its success in leveraging modern technologies to strengthen the digital payments and collections ecosystem in the Sultanate. He underscored the importance of startups continually developing their capabilities and staying abreast of the latest global innovations. Accompanying His Highness during the visit were H E Eng Said bin Hamoud al Maawali, Minister of Transport, Communications and Information Technology. H E Dr Saif bin Abdullah al Hadabi, Undersecretary of the Ministry of Higher Education, Scientific Research and Innovation for Scientific Research and Innovation, Eng Said bin Abdullah al Mandhari, CEO of the Omani Information and Communications Technology Group (Ithkaa) along with members of the Supervisory Committee of the Promising Omani Startups Programme.
Observer
27-04-2025
- Business
- Observer
Sayyid Belarab visits Thawani Technologies
MUSCAT: HH Sayyid Bilarab bin Haitham al Said, Honorary President of the Promising Omani Startups Programme, on Sunday visited Thawani Technologies, the first licensed financial technology company in the Sultanate of Oman. During the visit, HH Sayyid Bilarab was briefed on the company's specialised and smart digital financial services and solutions. The visit comes as part of a series of visits aimed at spurring promising startups, listening to their aspirations and boosting their contribution to the national economy. Established in 2016, Thawani Technologies has provided innovative payment solutions that meet the needs of the local market and support the national drive towards digital transformation, a key goal of Oman Vision 2040. During the visit, the company reviewed its most prominent achievements in utilising advanced technologies, such as smartphone solutions, payment technologies using facial recognition and palm print (biometrics), the use of artificial intelligence, deep learning as well as secure payment cards. It also reviewed its most prominent local and international achievements which include the Innovation Unit Award for Entrepreneurship in 2020 and the Best FinTech Company in the Middle East Award for 2024. The company's specialists outlined their regional expansion plans which include entering regional and international markets to enhance the presence of Omani startups at the global level. HH Sayyid Bilarab praised the company's successes in employing modern technologies to enhance digital payment and collection systems. HH Sayyid Bilarab was accompanied during the visit by Eng Said bin Hamoud al Maawali, Minister of Transport, Communications and Information Technology; Dr Saif bin Abdullah al Haddabi, Under-Secretary of the Ministry of Higher Education, Research and Innovation for Scientific Research and Innovation; Eng Said bin Abdullah al Mandhari, CEO of ITHCA Group, and members of the Supervisory Committee of the Promising Omani Startups Programme. — ONA
Observer
27-04-2025
- Business
- Observer
HH Sayyid Bilarab visits Thawani Technologies
Muscat: HH Sayyid Bilarab bin Haitham al Said, Honorary President of the Promising Omani Startups Programme, on Sunday visited Thawani Technologies, the first licensed financial technology company in the Sultanate of Oman. During the visit, HH Sayyid Bilarab was briefed on the company's specialized and smart digital financial services and solutions. The visit comes as part of a series of visits aimed at spurring promising startups, listening to their aspirations and boosting their contribution to the national economy. Established in 2016, Thawani Technologies has provided innovative payment solutions that meet the needs of the local market and support the national drive towards digital transformation, a key goal of Oman Vision 2040. During the visit, the company reviewed its most prominent achievements in utilizing advanced technologies, such as smartphone solutions, payment technologies using facial recognition and palm print (biometrics), the use of artificial intelligence, deep learning as well as secure payment cards. It also reviewed its most prominent local and international achievements which include the Innovation Unit Award for Entrepreneurship in 2020 and the Best FinTech Company in the Middle East Award for 2024. The company's specialists outlined their regional expansion plans which include entering regional and international markets to enhance the presence of Omani startups at the global level. HH Sayyid Bilarab praised the company's successes in employing modern technologies to enhance digital payment and collection systems. HH Sayyid Bilarab was accompanied during the visit by Engineer Said bin Hamoud al Maawali, Minister of Transport, Communications and Information Technology; Dr Saif bin Abdullah al Haddabi, Under-Secretary of the Ministry of Higher Education, Research and Innovation for Scientific Research and Innovation; Engineer Said bin Abdullah al Mandhari, CEO of ITHCA Group and members of the Supervisory Committee of the Promising Omani Startups Programme.
