Oman’s technology and innovation ecosystem celebrated a significant milestone at the “Afaq” event, marking the successful conclusion of the foundational phase of the Promising Omani Startups Program. Held at the Royal Opera House Muscat under the patronage of HH Sayyid Bilarab bin Haitham Al Said, the honorary president of the program, the ceremony showcased the remarkable achievements and economic impact generated between 2023 and 2025.
A Landmark Achievement for Oman’s Tech Ecosystem
The initial phase of the program has delivered substantial results, underscoring its role in transforming innovative ideas into viable, growth-oriented companies. Official statistics revealed that the program has successfully nurtured 205 technology and innovation-based startups.
Collectively, these emerging companies have achieved a market valuation of approximately $395 million, reflecting a significant economic impact. Furthermore, the startups have created 549 new job opportunities for Omani youth across various economic sectors, contributing directly to talent development and employment.
Transitioning to Institutional Sustainability
A key announcement during the event was the launch of the program’s sustainability plan, themed “An innovation journey that starts with an idea and builds a sustainable economy.” This marks a strategic shift for the initiative, moving it from a phased implementation model to one of institutional sustainability.
The new phase will focus on establishing a robust governance framework to ensure the program’s continued impact and maximize long-term economic returns. A central goal is to more effectively connect Omani startups with tangible growth opportunities, fostering a self-sustaining cycle of innovation and investment.
The Power of Public-Private Collaboration
The success of the program was attributed to the strong partnerships between government entities, the private sector, and the wider entrepreneurial ecosystem. The event celebrated the collaborative spirit that has been instrumental in supporting the program’s journey and achieving its ambitious targets.
Entrepreneurs from the graduating startups were recognized as the core pillar of this success, with their efforts in transforming concepts into concrete economic achievements being a central theme of the celebration.
Aligning with Oman Vision 2040
The Promising Omani Startups Program affirmed its commitment to advancing the national agenda. By continuing to empower local startups, enhancing institutional integration, and embedding innovation and technology as a sustainable national path, the program directly supports the strategic objectives of Oman Vision 2040.
About The Promising Omani Startups Program
The Promising Omani Startups Program is a national initiative designed to foster and accelerate the growth of technology-driven startups in the Sultanate of Oman. It was launched as a collaborative effort between the SME Development Authority (Riyada), the Ministry of Economy, the Ministry of Transport, Communications and Information Technology, the Ministry of Higher Education, Research and Innovation, and the Oman Telecommunications and Information Technology Group (ITHCA). The program aims to build a robust entrepreneurial ecosystem, diversify the national economy, and create high-value jobs in line with Oman Vision 2040.
Source: Oman Daily
