ITHCA Launches Accelerator and Venture Fund: What This Means for Omani-Saudi Tech Investors and Entrepreneurs
ITHCA Group, the technology investment division of the Oman Investment Authority (OIA), announced on Tuesday, December 16, 2025, the launch of a new accelerator programme and a venture investment initiative to enhance technological collaboration between Oman and Saudi Arabia.
The first major announcement was the introduction of ‘Bawabat’, an accelerator designed to help Omani tech startups enter and expand within the Saudi market. This programme is a joint effort between ITHCA Group, the Omani tech firm al Jabr, and Saudi Arabia’s National Technology Development Programme (NTDP).
Spanning six months, Bawabat aims to connect Omani startups with investors and facilitate their market entry in Saudi Arabia. Startups participating in the programme may receive investment funding of up to USD 100,000 from the OTF SCALE Fund. Beyond financial support, the accelerator provides business development assistance, cross-border networking, and practical guidance on localisation, product testing, and market validation.
Mohammed bin Salem al Wahibi, CEO of al Jabr, described Bawabat as “not merely a support programme but a practical bridge and integrated pathway that shortens the journey for Omani startups entering the Saudi market in a structured and well-researched manner.” He emphasized that genuine expansion depends on trusted cross-border partnerships, hands-on validation, and investment strategies grounded in market realities.
Ibrahim Nimas, CEO of NTDP, underscored the regional cooperation underpinning this initiative. He stated, “Saudi Arabia and the Sultanate of Oman, along with other GCC countries, share a clear vision to support technology entrepreneurship and strengthen startup growth across the region.” He added that this collaboration will enable companies from both countries to access new regional markets, connect with investors and partners, and seize growth opportunities within the Gulf’s technology ecosystem.
In a related development, ITHCA Group signed an investment agreement with Vision Ventures, a Saudi-based venture capital fund known for financing early-stage technology startups in the region. The agreement was signed by Eng. Said bin Abdullah al Mandhari, CEO of ITHCA Group, and Qais al Issa, Co-founder and CEO of Vision Ventures.
Al Issa commented, “We are proud of this partnership with ITHCA Group, which marks a strategic step in supporting Omani technology companies and linking them to the regional investment ecosystem.” He expressed optimism about accelerating growth and securing quality funding and partnership opportunities to create sustainable economic impact.
During the event, ITHCA Group also announced the rebranding of the ‘Idea Stage’ fund to ‘OTF SCALE’. Managed jointly by ITHCA Group and al Jabr, the fund has completed 36 investments since inception, with 11% of portfolio companies obtaining follow-on funding within 15 months.
Maha bint Mohammed al Balushi, Director General of Venture Capital Funds Management at ITHCA Group, explained that the OTF SCALE brand builds on the Oman Technology Fund’s legacy while embracing a forward-looking vision centered on scale and impact. She added that the fund’s mission is to elevate ideas, empower entrepreneurs, and accelerate growth for tangible economic and regional benefits.
OTF SCALE prioritises early-stage investments in high-growth sectors such as artificial intelligence, financial technology, software, and digital services, aligning with the evolving digital economy.
Commenting on the day’s announcements, Eng. Said bin Abdullah al Mandhari said, “These initiatives represent a significant advancement in supporting innovation and technology within Oman, opening broader opportunities for entrepreneurs to confidently enter regional markets, especially Saudi Arabia.”
Special Analysis by Omanet | Navigate Oman’s Market
The launch of the Bawabat accelerator and the OTF SCALE fund’s expansion signals a strategic deepening of Omani-Saudi tech collaboration, offering businesses in Oman unparalleled access to the lucrative Saudi market. This creates significant growth opportunities for tech startups by providing funding, localization support, and investor connections, while also introducing competitive pressures to scale rapidly. Smart investors and entrepreneurs should now prioritize cross-border partnerships and innovation in high-growth sectors like AI and fintech to leverage emerging regional synergies.
