Million dollar opportunity for Omani start-ups

Oman Saturday 07/May/2022 21:10 PM
By: Times News Service
Million dollar opportunity for Omani start-ups
The agreement to secure the funding was signed by Abdullah Al Balushi, acting CEO of Oman Tech Fund and Amr bin Abdullah Baabood, CEO of OITE, the organiser of COMEX 2022.

Muscat: Start-ups in Oman stand to earn one million dollars by way of investments if they convince the investors of the viability of their ideas and the growth strategy for their units, at an event later this month.

Called the COMEX Pitch Battle, the event will take place at COMEX, Oman’s official technology event from 23 May to 25 May, with the million dollars being provided by the Oman Technology Fund.

The agreement to secure the funding was signed by Dr. Yousef bin Abdullah Al Balushi, Acting CEO of OT and Amr bin Abdullah Baabood, CEO of OITE, the organiser of COMEX 2022.

Set to be held at the Oman Exhibition and Convention Centre (OCEC), COMEX is one of the leading exhibitions to highlight the digital transformation of ministries, authorities and companies by showcasing their achievements and opportunities for innovation in technology and their steps towards Oman Vision 2040.

The exhibition is considered to be one of Oman’s initiatives to provide the most engaging and networking platforms for young talent, development leaders, learning heads, human resources professionals and business leaders to bridge the gaps and find solutions in several areas of the digital ecosystem, such as AI, cybersecurity, IoT, innovation, drones, future mobility, block chain, coding, and more, which correspond to the Oman Vision 2040 and Muscat’s digital capital goals.

For the first time, COMEX will have a dedicated zone for start-ups called Comex Tech Venture, where many start-ups from across the region will have the opportunity to showcase their products and services.

With the support of OTF, the COMEX group of events will focus on enhancing the investment opportunities in ICT start-ups locally and globally within the framework of Oman Vision 2040. The jury members will select the top 40 start-ups to exhibit at COMEX, where they will compete with each other. Only 10 start-ups will qualify for the finals, which will be presented to the fund’s investment committee for evaluation and the possibility of receiving investment from OTF.

Startups specialising in different areas in the ICT field, such as gaming, e-commerce, e-lifestyle, business, entertainment, health and fitness, education, travel, utilities, fintech, biotech and logistics tech and other areas are all welcome to register for the Pitch Battle until May 17th, 2022 by filling up the form at the following link:

Along with the registration form, competitors have to provide a number of other submissions, including a list of team members, a competitor list form, a pitch deck, pitch video and other documents mentioned on the site.