A workshop recently held in Muscat addressed the challenges faced by new small and medium enterprises within the Omani start-up ecosystem.
The event, titled 'Start-ups Peer Pitching', was organised by Oman India Fertiliser Company (Omifco) under its CELL programme and aimed to facilitate a platform for new companies to exchange their experiences and market their services to potential investors.
In addition to a number of Omani entrepreneurs, the event also saw the participation of prominent investors like Abdulaziz al Hosni, CEO of Qurum Business Group, Sayyid Nasr al Busaidi, entrepreneur and partner at SABCO group of companies and Al Mutasim al Sariri, head of corporate sustainability, Oman Oil Company.
CELL, Omfico’s micro-business incubator project launched in 2012, is considered to be the first initiative of its kind in Oman that is led by the private sector.
It ensures that businesses owned and managed by Omani entrepreneurs are immersed in an accelerating environment and incubated virtually, which is further followed by a seed funding offer and coaching and mentoring activities provided by the CELL team.
Jaber Al Busaidi, programme manager of CELL at Omifco, said at the event: ""The CELL project is part of Omifco’s CSR vision through which it aims to help young entrepreneurs in their businesses at a crucial stage.
“Start-ups Peer Pitching event was meant to address challenges faced by SME owners by helping them interact with investors and those already established in the market.”
The establishment of Oman India Fertiliser Company SAOC (Omfico) is the result of an initiative of the Omani and Indian governments to construct, own and operate a modern world scale two-train ammonia-urea fertiliser manufacturing plant at the Sur Industrial Estate in the Sultanate of Oman.