Business incubators play a pivotal role in supporting the national economy

business incubators in oman

business incubators in oman

Pioneers Investors – Business incubators play a pivotal role in supporting national economies; It offers several intensive programs; To expand pioneering and emerging companies, and aims to create new investment opportunities for entrepreneurs; By assisting them in improving and developing industrial ideas, establishing their small and medium industrial projects, and providing technical, advisory and technical services.

Many countries have employed business incubators to confront specific economic, industrial or social problems, especially in light of the effects caused by the Corona virus, and how it necessitated finding an innovative industrial path by which countries improved their economy.

In the Sultanate of Oman, the Omani government paid special attention to start-up companies. Many incubators appeared to provide financial and administrative support. To establish more of these companies, train their work teams and develop their expertise; To be a tributary of economic development in the country.

In that context, the establishment of the SAS Center for Entrepreneurship came under the umbrella of the Information Technology Authority, as well as the Public Authority for Small and Medium Enterprises Development “Riyada” in addition to the Oman Technology Fund.

Official statistics indicate that, within 4 years, “Riyada” has incubated 47 institutions and companies, five other companies in the business center, and one virtual incubated startup; Therefore, the total number of start-up companies is 50 institutions and companies whose founders are between 22 and 45 years old, which provided 51 jobs for Omanis and 11 jobs for expatriates, and 8 companies emerged from them. Over the course of 6 years, SAS incubated 58 companies, and 12 companies graduated from them.