Oman’s “Program of Promising Omani Startups (POPS)” reviewed its progress during its fourth supervisory committee meeting of 2024, chaired by the program’s Honorary President, HH Sayyid Bilarab bin Haitham Al Said. The committee evaluated the implementation of decisions from the previous meeting and received updates on key initiatives.

Additional milestones included the launch of the Promising Omani Startup Accelerator, developed in partnership with the Industrial Innovation Academy and Madayn, supporting 20 pre-seed startups and 20 idea-stage companies.

Specialized accelerators were also established in collaboration with holding groups under the Oman Investment Authority (OIA). Additionally, the Startups Support Program provided over $1.5 million in financial grants to 75 startups and 33 student companies.

In collaboration with the Tharawat Family Business Forum, the Bold Investment and Family Business Governance Program was implemented to further strengthen the ecosystem.

Efforts to improve funding access included support for licensed crowdfunding platforms and the inclusion of Omani startups on the “Invest Oman” and global “Dealroom” platforms, enhancing their visibility to international investors. Additionally, 70 new startups were registered through cooperation with the Financial Services Authority.

The meeting also included a visual presentation on POPS’ performance indicators and deliberations on drafting a law to support innovation- and technology-driven startups in Oman.