ITHCA Group launches three strategic initiatives to accelerate Omani tech startups and strengthen Oman–Saudi cooperation

ITHCA Group, the technology investment arm of the Oman Investment Authority, has announced the launch of three strategic initiatives aimed at accelerating the growth of Omani technology startups and strengthening cross-border collaboration between the Sultanate of Oman and the Kingdom of Saudi Arabia.

The announcement was made during a group-hosted event and included the rebranding of the ‘Idea Stage’ fund as OTF SCALE, the launch of the ‘Bawabat’ accelerator in collaboration with aljabr.co and supported by the National Technology Development Programme (NTDP), as well as the signing of a joint investment agreement with Vision Ventures.

OTF SCALE focuses on supporting founders in developing prototypes and building scalable technology companies, with priority sectors including artificial intelligence, financial technology, software, and digital services. Since its establishment, the fund has completed 36 investments, with 11% of portfolio companies securing follow-on funding within 15 months.

The six-month ‘Bawabat’ accelerator programme is designed to enable Omani startups to enter and scale within the Saudi market by connecting them with investors and supporting localisation and market readiness. Participating startups are eligible for exclusive investment of up to USD 100,000 from the OTF SCALE Fund.

Meanwhile, the joint investment agreement with Vision Ventures represents a strategic step to expand access for Omani startups to the Saudi investment ecosystem, enabling them to benefit from regional expertise and networks to support growth in larger and more competitive markets.

Eng. Said bin Abdullah al Mandhari, Chief Executive Officer of ITHCA Group, stated that these initiatives mark a qualitative leap in supporting innovation and technology in Oman, opening broader horizons for entrepreneurs to access regional markets, particularly Saudi Arabia.