Oman’s technology landscape has entered a bold new chapter with the launch of the Bawabat accelerator and the newly rebranded OTF SCALE fund by ITHCA Group, the technology investment arm of the Oman Investment Authority. These initiatives are designed to empower Omani startups and foster cross-border collaboration with Saudi Arabia, opening a gateway for innovation, investment, and regional expansion.
Bawabat Accelerator: A Gateway to Saudi Markets
Bawabat is a six-month accelerator program that provides Omani technology startups with unparalleled access to the Saudi market. Through strategic partnerships with Al Jabr Company in Oman and Saudi Arabia’s National Technology Development Programme (NTDP), the program offers not just funding, but hands-on support for business development, market entry, and product localization.
Participating startups have the opportunity to secure exclusive investments of up to $100,000 from the OTF SCALE Fund. Beyond financial support, Bawabat facilitates connections with investors and partners, offering practical assistance in product testing, market readiness validation, and cross-border relationship building.
Mohammed bin Salem al Wahaibi, CEO of Al Jabr Company, emphasized the accelerator’s strategic significance: “Bawabat is not merely a support program, but a practical bridge that shortens the journey for Omani startups entering the Saudi market in a structured and well-studied manner.”
Strategic Partnerships Driving Regional Impact
The launch of Bawabat is complemented by a strategic partnership with Vision Ventures, a Saudi-based venture capital fund recognized for funding early-stage technology startups. This collaboration marks a critical step in connecting Omani technology companies to the broader regional investment ecosystem.
Qais al Issa, Co-founder and CEO of Vision Ventures, highlighted the potential impact: “We are proud to partner with ITHCA Group to support Omani technology companies, accelerating growth and expanding access to quality funding and strategic partnerships.”
This partnership strengthens the regional tech ecosystem, encouraging Omani and Saudi startups to explore new markets, gain investor confidence, and access growth opportunities across the Gulf Cooperation Council (GCC).
OTF SCALE: Reimagining Early-Stage Investment
The OTF SCALE fund, formerly known as the Idea Stage fund, represents a forward-looking vision for technology investment in Oman. Managed in partnership with Al Jabr Company, OTF SCALE has completed 36 investments since inception, with a notable 11% of portfolio companies securing follow-on funding within 15 months.
Maha bint Mohammed al Balushiyah, Director General of Venture Capital Funds Management at ITHCA Group, explained: “OTF SCALE focuses on elevating ideas, empowering entrepreneurs, and accelerating project growth to achieve tangible economic and regional benefits.”
The fund prioritizes early-stage investments in artificial intelligence, fintech, software, and digital services, sectors that are pivotal to the future of the digital economy. By offering both financial and operational support, OTF SCALE ensures that startups can scale effectively while achieving measurable impact.
Strengthening Cross-Border Collaboration
Ibrahim Nimas, CEO of NTDP, highlighted the shared vision driving this initiative: “Saudi Arabia and the Sultanate of Oman, along with other GCC countries, share a commitment to supporting technology entrepreneurship and boosting startup growth across the region.”
By enabling startups to enter new regional markets, Bawabat and OTF SCALE not only foster innovation but also build a foundation for long-term economic collaboration. The programs emphasize partnerships grounded in clear market needs, robust business models, and validated product readiness, ensuring startups are equipped for sustainable growth.
Driving Innovation and Economic Growth in Oman
Eng. Said bin Abdullah al Mandhari, CEO of ITHCA Group, described the initiatives as “a significant advancement in supporting innovation and technology in Oman.” These programs aim to create opportunities for entrepreneurs to confidently expand into regional markets, with a particular focus on Saudi Arabia.
For Omani startups, this marks a pivotal moment. Government-backed programs like Bawabat and OTF SCALE offer a combination of funding, mentorship, and regional exposure that can transform early-stage ideas into market-ready solutions. By bridging the gap between local innovation and regional opportunities, these initiatives are expected to accelerate the growth of Oman’s tech ecosystem and contribute to broader economic diversification.
Future Outlook: Opportunities and Impact
The launch of the Bawabat accelerator and the strategic partnership with Vision Ventures signal a new era for Omani technology companies. Startups now have access to structured support, funding, and regional networks, positioning them for success beyond Oman’s borders. Investors are presented with early-stage opportunities that combine innovation potential with regional scalability.
The emphasis on AI, fintech, and digital services aligns with global trends, ensuring that Oman’s technology ecosystem remains competitive and forward-looking. By nurturing startups and fostering cross-border collaboration, ITHCA Group’s initiatives are poised to create sustainable economic impact, enhance regional cooperation, and inspire a new generation of Omani entrepreneurs.
Conclusion
ITHCA Group’s launch of the Bawabat accelerator and the OTF SCALE fund represents a transformative step for Oman’s startup ecosystem. By providing comprehensive support, strategic partnerships, and access to regional markets, these initiatives empower Omani startups to scale, innovate, and succeed in an increasingly competitive technology landscape. The vision is clear: to elevate ideas, connect entrepreneurs to regional opportunities, and drive sustainable economic growth across Oman and the GCC.
Do follow Gulf Magazine on Instagram.
Also Read – Saudi Arabia’s Midad Energy Emerges as Frontrunner for Lukoil’s $22 Billion Assets
