Muscat: On Wednesday, the Programme of Omani Promising Startups (POPS) inaugurated the "Startup Accelerator Initiative," presided over by HH Sayyid Bilarab bin Haitham Al Said, the Honorary President of the POPS.
This initiative was inaugurated in collaboration with the Authority for Small and Medium Enterprises Development (ASMED), the Public Establishment for Industrial Estates (Madayn), the Industrial Innovation Academy, and a consortium of regional and international partners.
The primary objective of this initiative is to empower entrepreneurs with innovative ideas, support the establishment of nascent Omani enterprises, and connect them with business and investment opportunities, thereby facilitating their expansion on local, regional, and global scales.
The initiative leverages advanced technologies across various sectors and industries, facilitated by the Accelerator, and offers financing opportunities, comprehensive training, guidance, and consultations essential for the success and growth of startups.
The POPS program is structured around two primary phases. The initial phase, known as the "Idea Stage," is designed to accommodate 20 innovative ideas from diverse economic sectors, with a focus on supporting innovators and the owners of pioneering ideas in the development of innovative solutions within economic sectors and advanced technologies. This phase lays the groundwork for entrepreneurs to transform their ideas into viable and scalable products and services.
The second phase, referred to as the "pre-seed stage," targets 20 projects in critical sectors such as health, tourism, real estate, food security, and public services. This phase is strategically positioned to enable these projects to navigate future challenges and achieve sustainability in local and regional markets.
The Accelerator is committed to offering a comprehensive suite of services tailored to the requirements of startups. These services encompass the following:
- Mentorship and guidance from a panel of specialized experts and mentors;
- Comprehensive training across all facets of entrepreneurship;
- Provision of advanced office spaces that foster an environment conducive to innovation and entrepreneurship;
- Investment opportunities aimed at facilitating regional and international expansion for companies;
- Integrated marketing support designed to cultivate robust professional relationships through participation in international and regional events and exhibitions.
Furthermore, the Accelerator presents an unparalleled opportunity for incubation post-graduation, creating an ideal setting that enables startups to refine and transform their concepts into viable solutions that align with market demands.
