Pioneers Investors – Omantel, the leading provider of integrated telecommunications services in the Sultanate and one of the active telecommunications companies in the Middle East and North Africa, announced the launch of Omantel Innovation Labs, which comes as part of the company’s efforts to contribute to achieving the “Oman 2040” vision, and to promote innovation and entrepreneurship in new technologies. and emerging.
In this context, Omantel launched its own accelerator in partnership with the Oman Technology Fund and Brink. The accelerator offers a program that reduces risks for innovative start-ups across multiple stages of their life cycle by providing advice, support networks and obtaining funding. The program is tailored to the needs of each startup, ensuring its rapid commercialization, growth and expansion while ensuring technical feasibility, interest in market survival, and financial viability of its products and operations.
Mohammed Al Rasbi, Executive Director of Takween and Accelerators Program at the Oman Technology Fund, expressed his happiness with the launch of the Omantel accelerator project: “We are very pleased to launch this partnership with Omantel. After our contribution to accelerating the growth of more than 100 companies in the Sultanate of Oman, the Middle East and North Africa, we believe in the importance of partnerships. Trade with private sector companies, as these partnerships help increase the growth rate of our investment portfolio companies.”
“The pandemic has demonstrated the importance of innovation, technology and communications for business continuity and economic growth, which makes cooperation a prerequisite to accelerating its pace,” said Yassin Abu Daoud, Head of Business Development at Brink. “Wherever we go, there are tech innovators who need guidance to support their path, reduce risks to their projects and ensure that they continue to play an active role in dealing with local, regional and global challenges, whether they are students, employees or early-stage start-ups, we ensure They have the tools to succeed. We at Brink are delighted to collaborate with Omantel in order to contribute to transforming the region into one of the leading technology hubs in the telecom field.”
Startups that join the program will be able to get privileges worth over $250,000 in cloud computing, legal services, accounting and other areas, as well as access to funding of up to $50,000 in investment from the Oman Technology Fund. The program will also provide startups with free office space in Omantel’s innovation labs, and access to a network of over 100,000 investors, companies and mentors.
Startups wishing to qualify for this opportunity must demonstrate their ability to develop proprietary technology that is directly compatible with or based on one or more of the five program areas, and that they are past the initial stage of making their first MVP and ready for scaling. Early-stage companies and technology start-ups in other industry sectors will be considered.
As it was announced that applications for the accelerator program will end on August 28, 2021, the focus of the first cycle will be on Oman-based companies operating within the IoT, 5G, cybersecurity, big data and customer experience technology sectors. If your company is not within these sectors, we still encourage you to apply.