Sultanate of Oman: The Information Technology Authority (ITA), represented by Sas Center for Entrepreneurship, celebrated yesterday in the W hotel/Muscat, the conclusion of the first cohort of Sas Accelerator program which is powered by Google Developers Launchpad program and aims to boost and speed up with the growth of tech startups locally to bridge the gap between the idea stage and the implementation stage.

The event included a demo day along with an investor Roundtable with the presence of Dr. Salim Sultan Alruzaiqi, CEO of ITA, investors from inside and outside the sultanate, businessmen and entrepreneurs.

During the demo day, which  the last day for startups in the accelerator program, Each of the startups prepared and presented a brief about its products/services to an audience which includes venture capitalists, other potential investors, and industry leaders across many fields.

The event also included an investor roundtable which began with a talk by an international angel investor, Paulo Andrez. Paulo is an angel investor with an active portfolio of 14 companies. One of his investments reached 25 million euros in revenues within the first year of operations, for which he received an award “Best European Angel Investment” in 2012.

Commenting on Sas Accelerator Program, Paulo Andriz the international Angel Investor, said “Sas Accelerator is an excellent initiative and I’m highly overwhelmed with the level of professionalism it is implemented and operated.”

He further added “it is impressive to see how this accelerator is changing the business and tech ecosystem in the sultanate. It is important that entrepreneurs and tech startups get support from such entities like ITA and others in order to be ready for investment from business angels and venture capitalists. Without this kind of support from these entities, it would be very difficult for angels investors and venture capitalists to invest in these startups.”

“during the accelerator period, the startups got prepared to mitigate risks they might face while implementing their projects. the accelerator helped them to understand what business angel and venture capitalism are and how they are important along with helping them to pitch in front of investors,” he went on.

The first cohort, which run for ten weeks, was an intensive business and technology-based accelerator program for the 7 tech startups selected. The program was facilitated by 40 renowned experienced international Google Developers Launchpad mentors and selected local subject matter experts who covered 11 business topics and offered 200 hours of workshops and coaching.

It is worth to mention that Sas Accelerator program started in last march when ITA’s Sas Center for Entrepreneurship teamed up with Google Developers Launchpad to launch an accelerator program for the startup companies available in the market. The program aimed at connecting Sas Center for Entrepreneurship, its startups and mentors, to an elite group of the world’s top accelerators. It also enabled them to access Google’s global network, knew the company’s Silicon Valley-based startup programs, and twenty years’ valuable research of Google, as well as the best practice insights on businesses foundation , products, and teams at wider scale.

Ends

For more information or media clarification, please contact:
Sheikha Mahmood AljasssasiMedia Specialist
Information & Awareness Division
Telephone:      +968 2416 66769
GSM:               +968 9900 4332
Fax:                  +968 2416 6604
Email:              Sheikha.aljassasi@ita.gov.om 

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.