Idhkaa Group, an Omani entity focused on fostering tech innovation, has announced the signing of three strategic agreements with Saudi-based Roya VC. This landmark partnership is designed to accelerate the growth of technology startups in Oman and strengthen the expanding collaboration between the Sultanate and the Kingdom of Saudi Arabia in the IT, innovation, and entrepreneurship sectors.
The announcement was made during a ceremony hosted by Idhkaa Group, which also featured the rebranding of its Idea Stage Fund to “OTF SCALE” for tech startups.
A Multi-Faceted Collaboration
The partnership’s cornerstone is a series of agreements aimed at creating a robust support system for startups. This includes the launch of the “Bawaba” (Gateway) accelerator, established in collaboration with Al-Jabr and backed by Saudi Arabia’s National Technology Development Program (NTDP).
Alongside the accelerator, the two parties have signed a joint investment agreement, pooling resources to fund promising tech ventures. These initiatives are strategically aligned to empower founders to move from concept to scalable-tech companies.
Accelerating Early-Stage Growth
The newly rebranded OTF SCALE fund will continue its mission to enable founders to develop prototypes and build scalable technology companies. The fund will concentrate on high-growth sectors including Artificial Intelligence (AI), FinTech, Software as a Service (SaaS), and digital services.
Idhkaa Group and Al-Jabr will jointly manage the fund, ensuring founders receive intensive guidance and mentorship. This hands-on model is geared towards preparing a new generation of companies for successful entry into regional and international markets. To date, Idhkaa Group’s fund has been one of the region’s fastest early-stage programs, making 36 investments, with 11% of its portfolio companies successfully securing follow-on funding rounds.
Bridging Omani and Saudi Ecosystems
This collaboration formalizes a growing commitment from both Oman and Saudi Arabia to build a unified and supportive environment for tech entrepreneurship across the GCC. The partnership provides a direct pathway for Omani and Saudi startups to enter each other’s markets, gain access to a wider network of investors and partners, and capitalize on regional growth opportunities.
Qais Al-Issa noted that the partnership with Idhkaa Group is a strategic step to support Omani tech companies and connect them to the regional investment ecosystem. He emphasized that this collaboration enhances growth trajectories and opens up opportunities for quality financing and partnerships that translate into sustainable economic impact.
About Idhkaa Group
Idhkaa Group is an Omani organization dedicated to accelerating the growth of technology startups. Through its early-stage funds, accelerator programs, and strategic partnerships, it plays a pivotal role in nurturing innovation and entrepreneurship within Oman’s tech ecosystem, aiming to build companies capable of regional and global expansion.
Source: Rowad Al Aamal
