The Sultanate of Oman is actively fostering a dynamic landscape for innovation and economic diversification, and the recent “Horizons” ceremony at the Royal Opera House Muscat underscored significant progress in this endeavor. Presided over by His Highness Sayyid Bilarab bin Haitham Al Said, Honorary President of the Programme of Omani Promising Startups (POPS), the event celebrated the conclusion of the program’s foundational phase and highlighted its accomplishments in building a thriving Omani startup ecosystem. This commitment to nurturing entrepreneurial talent is proving vital for Oman’s future economic growth.
The Programme of Omani Promising Startups: A Review of Success
The “Horizons” ceremony wasn’t merely a celebratory event; it was a comprehensive review of the POPS’s impact between 2023 and 2025. The program’s primary goal is to transform promising ideas into robust, self-sustaining businesses, thereby empowering Omani entrepreneurs and contributing to a more diverse and resilient national economy. This involves more than just funding; it encompasses mentorship, resource accessibility, and the creation of a supportive network.
Significant Growth & Market Value
The data presented at the event paints a compelling picture of success. The number of promising Omani startups, specifically those rooted in technology and innovation, has reached an impressive 205 institutions. Even more remarkably, the collective market value of these ventures has soared to approximately USD 395 million. This highlights the scalability and potential inherent within Oman’s emerging business sector. Such growth is crucial for attracting further investment and building a strong reputation for Omani innovation.
Job Creation for Omani Youth
Beyond financial indicators, the POPS has demonstrated a tangible social impact by creating 549 job opportunities for Omani youth across a range of economic sectors. This employment boost is particularly significant in a region prioritizing the development of its young talent pool. Giving young Omanis opportunities in the technology sector is a key part of Oman’s Vision 2040.
Launching a Sustainability Plan for Long-Term Impact
A pivotal moment of the ceremony was the unveiling of the POPS sustainability plan, aptly titled “An Innovation Journey That Begins with an Idea, Building a Sustainable Economy.” This plan signifies a crucial shift from a phased implementation model to one of institutional sustainability. By establishing a robust governance structure and a comprehensive sustainability strategy, the program aims to ensure its long-term viability and maximize its enduring economic benefits. This proactive approach demonstrates Oman’s commitment to building a lasting legacy of entrepreneurship.
Governance & Continued Funding
The sustainability plan doesn’t just focus on financial independence; it also prioritizes establishing clear lines of accountability and effective decision-making processes. Securing consistent funding streams and diversifying revenue sources are also integral components, ensuring the program can continue to support startups even during economic fluctuations. This strategic planning is essential for fostering a genuinely resilient Omani economy.
The Power of Collaboration & Recognizing Entrepreneurs
The success of the POPS is a testament to the strength of collaboration. The ceremony underscored the vital role played by partnerships between government entities, including the Small and Medium Enterprises 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 Omani Group for Communications and Information Technology (Idhaa). Additionally, the support of the private sector, investors, and the broader entrepreneurship ecosystem was acknowledged as being fundamental to the program’s advancement.
However, the true heroes of this story are the entrepreneurs themselves. The “Horizons” ceremony rightly celebrated these individuals as the core driving force behind transforming innovative concepts into tangible economic results. Their vision, dedication, and resilience are the foundation upon which Oman’s future prosperity will be built.
Gratitude & Looking Towards Oman Vision 2040
In a touching gesture, entrepreneurs from various POPS startups presented His Highness Sayyid Bilarab bin Haitham Al Said with a commemorative gift. This act served as a heartfelt expression of gratitude for his unwavering support of the Omani startup ecosystem and his dedication to fostering innovation and entrepreneurship within the Sultanate. It beautifully illustrated the strong bond that’s developing between program leaders and the entrepreneurs they serve.
The “Horizons” ceremony ultimately reaffirmed the Programme of Omani Promising Startups’ dedication to continued support for Omani startups, increased institutional integration, and solidifying innovation and technology as sustainable pillars of the national economy. This commitment aligns directly with the ambitious goals of Oman Vision 2040 – a strategic blueprint for the nation’s future. The program’s first phase, completed in partnership with key government and private sector organizations, lays a strong foundation for continued growth and success in the years to come.
The future looks bright for Oman’s burgeoning startup scene. To learn more about opportunities within the Omani market and explore how to contribute to this exciting development, visit the Riyada website or connect with relevant investment bodies. The time to invest in Omani innovation is now.
