ITHCA Group, the technology investment arm of the Oman Investment Authority (OIA), has announced two major initiatives aimed at strengthening technology cooperation between Oman and Saudi Arabia. The launch includes a new accelerator program and a strategic venture investment agreement, both designed to facilitate market entry and growth for Omani startups in the region.
Bridging Markets With Bawabat Accelerator
ITHCA Group unveiled ‘Bawabat’, an accelerator designed to empower Omani technology startups to enter and scale within the lucrative Saudi market. The program is a collaboration between ITHCA Group, Omani technology company al Jabr, and the National Technology Development Programme (NTDP) in Saudi Arabia.
The six-month accelerator aims to connect Omani startups with investors and provide comprehensive support for their Saudi market entry. Participating startups are eligible for an exclusive investment of up to $100,000 from the newly rebranded OTF SCALE Fund. The program also offers business development support, cross-border relationship building, and hands-on assistance in localisation and product-market validation.
Mohammed bin Salem al Wahibi, Chief Executive Officer of al Jabr Company, commented, “Bawabat is not merely a support programme, but a practical bridge and an integrated pathway that shortens the journey for Omani startups entering the Saudi market in a structured and well-studied manner.”
Ibrahim Nimas, Chief Executive Officer of the NTDP, highlighted the collaborative spirit of the initiative. “Through this collaboration, Omani and Saudi companies will be able to enter new regional markets, connect with investors and partners, and seize growth opportunities within the regional ecosystem,” he stated.
Strategic Partnership With Vision Ventures
In a further move to deepen regional ties, ITHCA Group signed an investment agreement with Vision Ventures, a prominent Saudi Arabia-based venture capital fund known for backing early-stage technology startups. The agreement was signed by Eng. Said bin Abdullah al Mandhari, CEO of ITHCA Group, and Qais al Issa, Co-founder and CEO of Vision Ventures.
“We are proud of this partnership with ITHCA Group, which represents a strategic step in supporting Omani technology companies and linking them to the regional investment ecosystem,” said Al Issa. “Through this collaboration, we look forward to accelerating growth pathways and opening high-quality funding and partnership opportunities that translate into sustainable economic impact.”
Rebranding to OTF SCALE
ITHCA Group also announced the rebranding of its ‘Idea Stage’ fund to ‘OTF SCALE.’ Managed in partnership with al Jabr Company, the fund has a strong track record, having completed 36 investments since its inception. Notably, 11% of its portfolio companies have secured follow-on funding within 15 months.
Maha bint Mohammed al Balushi, Director General of Venture Capital Funds Managment at ITHCA Group, explained the new brand identity. “The OTF SCALE brand combines the legacy of the Oman Technology Fund with a forward-looking vision focused on scale and impact. It reflects our mission of elevating ideas, empowering entrepreneurs, and accelerating project growth toward tangible economic and regional impact.”
OTF SCALE will continue to support founders at the earliest stages, with a focus on high-growth sectors such as artificial intelligence, fintech, software, and digital services.
About ITHCA Group
ITHCA Group is the technology investment arm of the Oman Investment Authority (OIA). It is dedicated to fostering innovation and technological advancement in the Sultanate of Oman by investing in promising startups, launching strategic initiatives, and building bridges to regional and global tech ecosystems.
Source: Zawya
