Oman Launches Second Scale Award to Boost Tech Startups

Post by : Mumtaaz Qadiri

Ithmaar Properties has announced the second edition of the Scale Award in the Sultanate of Oman. This award is designed especially for emerging technology companies. The main goal is to support startups, give them opportunities to grow, and encourage innovation and entrepreneurship in the country. The initiative reflects Oman’s commitment to building a strong digital economy and providing platforms for new ideas.

Purpose of the Award

The Scale Award focuses on empowering small technology companies that are just starting out. These startups often face many challenges, including lack of funding, limited access to expert advice, and difficulties in reaching investors. The award helps solve these issues by providing technical and advisory support, funding opportunities, and chances to connect with both local and regional markets. In this way, the award plays a vital role in creating a nurturing environment for entrepreneurs.

Strong Partnerships Behind the Award

One of the most important features of the Scale Award is the partnerships supporting it. Ithmaar Properties works with both government institutions and private companies. This partnership model ensures that all stakeholders contribute to building a better environment for startups. By bringing together resources, knowledge, and expertise, these partnerships open new horizons for entrepreneurs and make it easier for them to succeed.

Role in National Development

The Scale Award is not just a competition. It is also part of Oman’s larger vision for economic growth. By supporting technology companies, the award encourages development in promising economic sectors. It also helps create more opportunities for young entrepreneurs. This is in line with Oman Vision 2040, which emphasizes innovation, diversification, and a stronger digital economy. The award is therefore seen as a tool to support the national economy while also helping entrepreneurs achieve success.

Phases of the Award Process

The award process is carefully structured into several phases. The first phase is registration, where entrepreneurs and companies can apply for participation. This registration is open to everyone who is interested and has a business idea or project. Some projects may also be directly nominated by relevant authorities. After registration, the best projects are selected for the next phase.

Presenting Ideas to the Panel

In the second phase, selected entrepreneurs present their ideas and projects to a panel of judges. These presentations usually take place during an exhibition, where the entrepreneurs showcase their work. The judging panel is made up of experts, investors, and professionals from different industries. They evaluate the projects based on creativity, innovation, and potential for success. This phase allows entrepreneurs to demonstrate their vision and receive valuable feedback.

Final Phase and Honoring Winners

The final phase of the award includes choosing winners and honoring them. Winners are not only recognized but also given ongoing support to help their businesses grow. This includes advice from experts, financial assistance, and connections to investors. The aim is not just to reward winners but also to guide them so they can succeed in the competitive market. The award therefore creates a complete support system that helps entrepreneurs beyond the competition itself.

CEO’s Vision for the Award

Engineer Saeed bin Abdullah Al Mandhari, CEO of Ithkaa Group and Secretary General of the award, explained the purpose of the initiative. He said that the Scale Award aims to empower emerging technology companies and create a better environment for innovation and entrepreneurship in Oman. He emphasized that partnerships between the public and private sectors are essential. According to him, the complementary roles of these sectors form the foundation of the award’s success.

Commitment to Innovation

The CEO also stressed that the Ithmaar Group is committed to innovation in how it selects partners and builds the award’s programs. The group provides entrepreneurs with consultations, mentorship, funding opportunities, and access to experts and jury members. By doing this, the award helps transform pioneering ideas into real projects that can compete in the market. These projects are designed to be growth-oriented and contribute to Oman’s economic development.

Supporting Oman Vision 2040

The Scale Award also aligns with Oman’s national vision. Vision 2040 focuses on innovation, diversification, and building a modern digital economy. By encouraging startups, the award contributes to these goals. It supports the development of new economic sectors and helps position Oman as a hub for innovation in the region. The award is therefore not just about supporting individual entrepreneurs but also about contributing to the country’s long-term plans.

Building a Digital Economy

One of the main outcomes of the Scale Award is the strengthening of Oman’s digital economy. Startups often work on technology-based solutions, digital platforms, and innovative services. By supporting these companies, the award helps expand the digital sector in Oman. This makes the country more competitive on both the regional and global level. It also creates job opportunities for young people interested in technology and innovation.

Creating Local and Regional Success Stories

The Scale Award also has a regional impact. By giving startups opportunities to connect with investors and experts beyond Oman, the award helps them grow into regional success stories. This creates inspiration for other entrepreneurs and proves that startups from Oman can succeed in larger markets. Such success stories bring pride to the nation and also attract more investment into the local economy.

Importance of Entrepreneurial Environment

For entrepreneurs to succeed, they need more than just money. They need a supportive environment where their ideas are valued and where they can get guidance. The Scale Award provides exactly that. By building a complete ecosystem of support—technical help, funding, mentorship, and networking—it ensures that entrepreneurs have the tools they need to succeed. This environment makes it easier for startups to turn their ideas into sustainable businesses.

Long-Term Impact of the Award

The impact of the Scale Award goes beyond the winners of each edition. Every time the award is held, it encourages more young people to think about innovation and entrepreneurship. Even those who do not win gain experience, feedback, and networking opportunities. Over time, this builds a culture of innovation in Oman. This culture is very important for future generations and for the overall development of the country.

A Platform for Growth

The second edition of the Scale Award confirms Oman’s strong commitment to entrepreneurship and innovation. By supporting startups, building partnerships, and connecting entrepreneurs to markets, the award creates opportunities that extend far into the future. It is not just an award but a platform for growth, learning, and success. As Oman continues to work towards Vision 2040, initiatives like the Scale Award will play a key role in shaping a strong digital and innovation-driven economy.

Oman startups, Scale Award, Ithmaar Group, tech innovation