They had been element of the Al Hub’ta networking occasion beneath the EBDA programme of Al Rud’ha, which is a platform of group of entrepreneurs, investors, corporate executives to network, discover possibilities and share information. Hub’ta [or habta] is a conventional Omani occasion in the course of the time of Eid in which purchasers and sellers come collectively in an open industry spot.
Speaking in the course of the occasion, Mohammed al Wahaibi, CEO of Al Rud’ha, mentioned, “EBDA is a four-month capacity building programme for startups in the early stages. It helps entrepreneurs validate their ideas and launch them in the market. The programme focuses on areas such as product development, business model generation, marketing, team building and legal structure. The applicants are expected to submit a summary of their ideas and the team background. The applications are then filtered by how knowledgeable the startups are, team synergy, availability and product-market fit. The programme enhances general business skills, marketing and sales, fundraising from investors, team communication and leadership.”
It was the second edition of the EBDA programme and it accepted 20 startups consisting of much more than 100 folks from exactly where 14 had been chosen. Most EBDA participants got an chance to meet with possible investors. The most current investment was for startup AMAN that was capable to raise pre-seed funds from two various investors.
Wahaibi mentioned, “The ecosystem is developing and key parts are getting into place. We are witnessing more startups moving towards tech solutions. The emergence of the first private venture capital (VC) firm into the ecosystem has helped in building a better infrastructure for startup founders and hopefully set the tone for future VCs. The private sector should be taking the lead in advancing entrepreneurship in Oman with the public sector focusing on regulating it.”
He added that it was a pleasure to see how the programme impacted the participants in a extremely optimistic way.
“After many meetings we had with the majority of the participants, the most prominent feedback we got was how the programme was capable to create their viewpoint towards their personal tips and aid them handle it the correct way. As nicely as possessing the chance to access a network filled with various mentors, advisors and supporters.
“Supporting entrepreneurship requires collective efforts from both private and public institutes with clear objectives. BP Oman has shown an example of successful support of the entrepreneurial ecosystem.”
Information Source: Muscat Daily