ITHCA Launches Venture Fund and Accelerator: What It Means for Startups and Investors in Oman
MUSCAT, DECEMBER 16, 2025 — ITHCA Group, the technology investment arm of the Oman Investment Authority (OIA), today announced the launch of a new accelerator programme and a venture investment initiative aimed at enhancing technology collaboration between Oman and Saudi Arabia.
The first initiative, ‘Bawabat’, is an accelerator designed to help Omani technology startups enter and expand within the Saudi market. This programme is the result of a partnership between ITHCA Group, Omani tech company Al Jabr, and Saudi Arabia’s National Technology Development Programme (NTDP).
Bawabat offers a six-month programme that connects Omani startups with investors while facilitating their market entry in Saudi Arabia. Participating startups can receive exclusive investments of up to $100,000 from the OTF SCALE Fund. Alongside funding, the accelerator provides business development support, assists with cross-border relationship building, and offers hands-on help with localisation, product testing, and market readiness validation.
Mohammed bin Salem al Wahaibi, CEO of Al Jabr Company, described Bawabat as “not merely a support programme, but a practical bridge and an integrated pathway that shortens the journey for Omani startups entering the Saudi market in a structured and well-studied manner.” He emphasized that genuine expansion relies on trusted cross-border relationships, product readiness validation on the ground, and partnerships anchored in clear market needs and solid business models.
Ibrahim Nimas, CEO of the NTDP, highlighted the shared regional vision driving the initiative. He said, “Saudi Arabia and the Sultanate of Oman, along with other GCC countries, share a clear commitment to supporting technology entrepreneurship and boosting startup growth across the region.” He added that this collaboration enables companies from both countries to enter new regional markets, connect with investors and partners, and seize growth opportunities within the regional ecosystem.
Additionally, ITHCA Group announced the signing of an investment agreement with Vision Ventures, a Saudi-based venture capital fund known for its active role in financing early-stage tech startups across 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 expressed his enthusiasm for the partnership, stating, “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 expanding access to quality funding and partnerships that drive sustainable economic impact.
ITHCA Group also revealed the rebranding of the ‘Idea Stage’ fund to ‘OTF SCALE.’ Managed jointly with Al Jabr Company, the fund has completed 36 investments since inception, with 11% of portfolio companies securing follow-on funding within 15 months.
Maha bint Mohammed al Balushiyah, Director General of Venture Capital Funds Management at ITHCA Group, explained, “The OTF SCALE brand combines the legacy of the Oman Technology Fund with a forward-looking vision focused on scale and impact.” She emphasized the fund’s mission to elevate ideas, empower entrepreneurs, and accelerate project growth to achieve concrete economic and regional benefits.
OTF SCALE prioritises early-stage investments in sectors such as artificial intelligence, financial technology, software, and digital services—key areas driving the future digital economy.
Commenting on these initiatives, Eng. Said bin Abdullah al Mandhari, CEO of ITHCA Group, said, “These announcements represent a significant advancement in supporting innovation and technology in Oman. They open broader opportunities for entrepreneurs to confidently expand into regional markets, with a particular focus on Saudi Arabia.”
Special Analysis by Omanet | Navigate Oman’s Market
The launch of the ‘Bawabat’ accelerator and the strategic partnership with Vision Ventures mark a significant expansion of Omani tech startups into the lucrative Saudi market, presenting new cross-border growth and investment opportunities. For businesses in Oman, this is a critical moment to leverage government-backed support for regional scaling, especially in AI, fintech, and digital services, while smart investors should closely watch this ecosystem for early-stage ventures with strong potential for regional impact and follow-on funding.
