Muscat – The ITHCA Group on Tuesday announced a series of initiatives aimed at accelerating the growth of technology startups in Oman and strengthening investment links with Saudi Arabia.
The group said it has completed 36 investments through its Ideation Stage Fund, managed in partnership with Saudi-based Al Jabr, with 11% of supported startups securing follow-on funding. According to ITHCA, the results position the fund among the region’s fastest-performing early-stage support programmes.
As part of the next phase, the ideation programme has been rebranded as the OTF SCALE Fund. The fund will focus on supporting founders in developing prototyp- es and building scalable busines-ses, with priority sectors including artificial intelligence, fintech, software and digital services. The programme combines capital with structured mentorship to prepare startups for regional and international expansion.
ITHCA also announced the launch of the Baw’wabah Accelerator, a six-month programme designed to support Omani startups entering the Saudi market. The initiative is powered by Al Jabr and supported by Saudi Arabia’s National Technology Development Programme, with implementation in collaboration with ITHCA.
The accelerator will provide participating startups access to investors, strategic partners and market-entry support. Additionally, it will offer business development assistance, mentorship from Omani and Saudi experts, and support in localisation, product testing and market readiness. Selected startups may receive investment of up to US$100,000 from the OTF SCALE Fund.
The programme targets revenue-generating Omani startups that have progressed beyond the minimum viable product stage and are seeking to scale in Saudi Arabia.
Mohammed bin Salim al Wahibi, CEO of Al Jabr, said the Baw’wabah Accelerator would provide a structured pathway for Omani startups seeking regional expansion, while Ibrahim Nemaz, CEO of the National Technology Development Programme, said the collaboration reflects a shared Oman–Saudi vision to advance technology entrepreneurship across the region.
Announcement of the accelerator coincided with the signing of an investment agreement between the ITHCA Group and Vision Ventures Fund, a Saudi-based venture capital focused on early-stage technology investments. The agreement is expected to expand access for Omani startups to Saudi Arabia’s investment ecosystem and regional networks.
The agreement was signed by Said bin Abdullah al Mandhari, CEO of the ITHCA Group, and Qais al Issa, Co-founder and CEO of Vision Ventures.
Mandhari said the efforts mark a step forward in supporting innovation in Oman and enabling entrepreneurs to access regional markets, particularly Saudi Arabia.
Issa described the partnership as a strategic move to connect Omani technology companies with regional investors.
