Techween announced that tech startup finalists who will join the programme will advantage from US$50,000 investments along with a 3-month coaching programme.
Meanwhile, registration has been opened for the fifth cohort of tech startups. Mohammed al Rasbi, programme manager, Techween, stated, “The participating startups will join an intensive training programme in Oman and abroad, in cooperation with international institutions. Support and guidance were provided in both tech and commercial fields concerning developing products, approaching customers and pitching to investors. For each startup, the fund invested is US$50,000 for seven per cent of equity in exchange.”
He added, “We aim at assisting Omani youth to establish their tech businesses, attracting investment, making job possibilities and advertising them in the regional industry.
“We develop startups in a way to extend their business, acquire valuable experience and training in order to successfully enter the market and support national economic growth.”
Techween invested about US$1.45mn in 29 tech startups for 3 cohorts in their pre-seed stage, from Oman and the area.
Techween aims at supporting the item and ascertaining the financial feasibility. OTF is a specialised fund in investing in startups and revolutionary and inventive suggestions in the IT sector in Oman and the MENA area. It runs 3 investment programmes: Techween Pre-Seed Program, Wadi Accelerator and Jasoor Ventures.
Information Source: Muscat Daily