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.
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Sheikha Mahmood AljasssasiMedia Specialist
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© Press Release 2019