In a significant move to bolster the regional startup landscape, Omantel Innovation Labs and inspireU, the accelerator arm of Saudi Arabia’s stc group, have announced a strategic partnership. The collaboration, unveiled during GITEX GLOBAL, is designed to foster innovation, accelerate the growth of digital startups, and empower entrepreneurs across the GCC.
A Pan-GCC Startup Corridor
The core of this partnership is the creation of a seamless corridor for tech startups to scale across Oman and Saudi Arabia. Both parties will collaborate to support startups in their respective accelerator programs by providing access to expert mentorship, technical guidance, and crucial market expansion opportunities. This will facilitate smoother market entry for Omani startups into Saudi Arabia through inspireU’s extensive network and the broader stc group ecosystem. Conversely, Saudi startups will gain direct access to Omantel’s established innovation ecosystem within the Sultanate of Oman.
Fostering a Thriving Regional Ecosystem
Leaders from both organizations highlighted their shared commitment to nurturing a more integrated and dynamic entrepreneurial environment. The partnership aims to create new opportunities for startups to scale beyond their home borders by leveraging the combined strengths and resources of two of the region’s leading telecommunications giants.
Her Highness Sayyida Ghada Al Said, Senior Manager of Omantel Innovation Labs, commented, “This partnership represents a strategic milestone in our mission to empower innovators and advance the region’s entrepreneurial landscape. Through our collaboration with inspireU, we aim to unlock new opportunities for startups to scale beyond borders, leveraging our shared strengths to shape the future of business and technology in the region.”
Adding to this, Mr. Abdulrahman Al Zuhair, Director of inspireU at stc group, stated, “We are pleased to partner with Omantel Innovation Labs to connect ecosystems and open new investment horizons across the GCC. Such collaboration enables access to emerging technologies and opens the path for entrepreneurs to scale regionally and compete globally. Together, we are building a stronger regional ecosystem aimed at supporting startup growth, expanding investments, and strengthening the GCC’s position as a global hub for digital innovation.”
About Omantel Innovation Labs
Launched in 2021, Omantel Innovation Labs serves as the startup support and corporate venture capital arm of Omantel. It plays a key role in supporting Oman Vision 2040 by nurturing technology startups. To date, it has supported over 60 startups through its accelerator and innovation programs and manages a joint fund with Future Fund Oman, having invested approximately 3 million OMR in promising ventures.
About inspireU
inspireU was launched by stc group in 2015 as the first corporate accelerator in the region, focusing on empowering startups in ICT and digital innovation. The accelerator provides financial support, mentorship, and access to stc’s ecosystem to help entrepreneurs grow. It has successfully supported more than 150 startups, which have collectively attracted over one billion Saudi riyals in investments and served more than 52 million users.
Source: Zawya