Wednesday, 3 Mar 2021
National Bank of Oman (NBO) hosted the fifth edition of the Innovation in SME Awards, granting a total of RO17,500 to three up-and-coming SMEs.

NBO holds Innovation in SME Awards, grants RO17,500 to 3 winners

Open to student-led commence-ups and entrepreneurs among the ages of 18 and 25 across the sultanate, the awards received more than 125 submissions, creating it the most competitive till date. The 5 shortlisted teams have been judged on originality, sustainability, practicality and prototype.

Sayyid Wasfi bin Jamshid al Said, acting chief executive officer at NBO, stated, “Youth are taking the driver’s seat in all industries. As the men and women of tomorrow, they are the foundation of our society and it is no surprise that they are leading the SME segment. At NBO, we have embraced this whole-heartedly and have consciously invested our efforts to continuously support, train, and coach Omani talent, thereby contributing to both job generation and economic diversification.”

He added, “The award encourages, supports and celebrates innovation in the sultanate and is part and parcel of our commitment to promoting a positive shift towards creative thinking. Since its launch, more than 400 aspiring ideas have been submitted by youth across Oman. Their imagination and courage combined with an enthusiasm for adventure is something we all stand to benefit from.”

The very first-placed winning team, Purvex received RO10,000 for an on-line application ‘nSmartFood’ which aids clients download restaurants’ menus ahead of time to aid location orders and track delivery serving each dine-in clients and takeaway orders. The team will also get help from the bank in creating the idea additional and join NBO’s Tijariati SME mentoring programme in order to strengthen their abilities and find out new methods to develop their company. In addition, they will have access to the bank’s Academy of Excellence and all its instruction programmes.

Second-placed winners, Plug-in have been awarded an RO5,000 money prize for an application that gives audio tour guide upon scanning the QR codes that are distributed in numerous touristic areas about Muscat.

Third-placed winners, Octopus took house RO2,500 for their ‘Ruhal’ application which permits guests to discover out the solutions offered in every touristic place and order additional solutions. NBO was the very first bank to launch a committed SME division, Tijarati, to address the certain banking and finance requirements of entrepreneurs.

Information Source: Muscat Daily

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