Oman to establish National Centre for Entrepreneurship

Muscat: The Supervisory Committee of Promising Omani Startups Programme, headed by HH Sayyid Bilarab bin Haitham Al Said, reviewed plans for establishing the National Centre for Entrepreneurship (NCFE) that will serve as an interactive space to attract and encourage young entrepreneurs, patent owners and small and medium enterprises (SMEs).

The NCFE’s prime aim will be to accelerate business growth and introduce startup products and services in local and global markets.

On Wednesday, the Supervisory Committee of the Promising Omani Startups Programme held its third meeting of 2023 under the chairmanship of HH Sayyid Bilarab, Honorary President of the Promising Omani Startups Programme.

The meeting was in pursuance of steps to follow up the progress made in the programme’s plans and initiatives aimed at activating the system of startups based on technology and innovation in Oman.

The meeting looked into means of contributing to fostering the culture of startups in educational institutions, enhancing community awareness of their importance, empowering those with innovative ideas, supporting the establishment of startup firms in this field and linking them to business opportunities.

The meeting also explored investment and financing opportunities in local and global markets, in addition to means of improving Oman’s ranking in international indicators related to innovation, technology and ease of doing business.

The committee discussed ways to contribute to sustainable development by grooming a generation that is well-versed in the fields of innovation and knowledge-economies and that keeps pace with the requirements of technical transformation in all fields.

It exchanged views about means of spreading awareness about the importance of supporting emerging projects for various groups. It also discussed an initiative to introduce business subjects in curricula of educational institutions, among other issues.

Later, HH Sayyid Bilarab toured an exhibition showcasing models of eight Omani startups, their services and products based on innovation and their patents.