MUSCAT : The initiative seeks to create a dynamic environment for entrepreneurship by enabling business incubators, including those in universities and higher education institutions, to deliver targeted support services to small and medium enterprises (SMEs), startups, and entrepreneurial projects.
According to the SMEs Authority, the initiative is designed to:
Encourage incubators to provide structured support and incubation services.
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Build a business environment that stimulates SME growth.
Expand access to incubation services across all governorates in Oman.
The program specifically targets institutions holding official licenses to operate incubators or accelerators, alongside academic incubators. Applicants must submit a detailed technical concept outlining their incubation program for a one-year period. This includes timelines, the type and quality of services provided, added value to entrepreneurs, and a breakdown of financial costs.
Services under the incubation framework are expected to include co-working spaces, specialized advisory sessions in finance, marketing, and legal affairs, as well as training workshops, promotional events, and access to new business opportunities.
For startups and SMEs seeking incubation, eligibility requirements include being in the early stages of establishment (0–3 years), full dedication from founders, Omani nationality, and an innovative business model that aligns with Oman Vision 2040 and adds measurable economic value across the Sultanate.
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