Oman Technology Fund signs MoU to boost investment

Muscat: A Memorandum of Understanding  has been signed between the Oman Technology Fund (OTF) and AWJ Innovation Company (STID) to boost investment in entrepreneurial development in the frontier technology program (.nxt)

The MoU was signed with the aim of investing in the outcomes of the entrepreneurial development in frontier technology program (.nxt), by providing potential training and employment opportunities. Moreover, OTF is aiming to create potential investment opportunities to support feasible projects and entrepreneurial ideas within the Fund's investments in the fields of technology and innovation, which is scheduled to last for two years, which can be extended accordingly.

The MoU was signed by Ismail bin Ibrahim Al Harthy, acting CEO of the Oman Technology Fund and Eng. Humoud bin Sloum Al Shukeiry, Vice President of Projects and Operations of AWJ innovation. Al Shukairy explained that the third phase of the (.nxt) program comes as an intensive virtual practical training boot camp for a period of five weeks, which is dedicated to developing 100 young Omani entrepreneurs and startups as part of the program.