Pioneer Investors – The Sultanate of Oman has been ranked among the top 10 countries in the Middle East and North Africa in terms of attractive markets for talent at an affordable cost for startups and abundant venture capital financing, and among the top 15 countries in the speed of development and performance of the startup’s system. It happened as, according to a report issued by the international Startup Genome Foundation, which specializes in developing the startup ecosystem and innovation the total market value of Omani startups reached to $300 million.
The report focused on attractive opportunities for emerging companies and investing in them within three main sectors: e-commerce, clean energy technologies, and financial technologies. The growth of these sectors is expected to be accelerated during 2025.
Moreover, this report focused on the efforts, programs, and initiatives of the government and private agencies in the Sultanate of Oman for stimulating the startup ecosystem, as well as the importance of mentioning them in the global startup ecosystem report, which is an opportunity to raise the competitiveness between Omani startups, enhance their position globally and increase their attractiveness by keeping pace with global trends and the supportive and motivating strategy for startups.
These positive indicators are a reflection of the efforts, the existing partnership, and the integrated approach between governmental institutions to advance Omani startups. One important achievement was the launch of the promising Omani startup program, which is headed by His Highness Seyyed Bin Haitham Al Said, and is managed by the Small and Medium Enterprises Development Department in cooperation with the Ministry of Transport, Communications and Information Technology, Ministry of Higher Education, Scientific Research and Innovation, Ministry of Economy and the “ITHCA” group.
The report reviewed a set of visions and trends about the world’s leading countries and cities for startups, strategic trends, and the main challenges and opportunities available in this vital sector. It is based on extensive research and analysis of data belonging to more than 3 million startups around the world.
It is noteworthy that “Startup Genome” is an international research and advisory institution in the development of the startup and innovation ecosystem in the world and it is originated in more than 50 countries around the world.