14 young entrepreneurs showcase innovative technologies at Al-Hub’ta’s networking event in Oman
As part of the Al-Hub’ta networking event under the EBDA programme of Al-Rud’ha, 14 entrepreneurs displayed the latest new-age technologies at a forum in Muscat, Oman. These technologies aim to improve the personal and professional lives of people.
The EBDA programme of Al-Rud’ha is a platform consisting of investors, young entrepreneurs, and corporate executives. It was designed to allow young entrepreneurs to interact with relevant entities that can assist them in kickstarting their business ideas and providing them financial support; opportunities which are otherwise very rare for young entrepreneurs and become a major cause for the lack of progress in business.
The EDBA is a four-month capacity building programme for early-stage startups. According to CEO of Al Rud’ha, Mohammed al Wahaibi, “EBDA helps entrepreneurs validate their ideas and launch them in the market. The programme focuses on areas such as product development, business model generation, marketing, team building and legal structure. The applicants are expected to submit a summary of their ideas and the team background. The applications are then filtered by how knowledgeable the startups are, team synergy, availability and product-market fit. The programme enhances general business skills, marketing and sales, fundraising from investors, team communication and leadership.”
The EDBA programme will be concluding its second edition since its inception two years ago. The programme accepted applications from 100 young entrepreneurs of 20 different startups. Among those 100, 14 were selected to present their plans for new-age technologies that are market fit, including Artificial Intelligence and Virtual and Augmented Reality. The participants also had the opportunity of meeting potential investors following the presentations.
Al Rud’ha prides itself over its commitment to develop the entrepreneurial ecosystem in Oman, especially for youths who possess bright ideas but lack the resources. Wahaibi, CEO of Al Rud’ha, claims that the trends are changing and more and more startups are moving towards tech solutions. He commented “The emergence of the first private venture capital (VC) firm into the ecosystem has helped in building a better infrastructure for startup founders and hopefully set the tone for future VCs. The private sector should be taking the lead in advancing entrepreneurship in Oman with the public sector focusing on regulating it.”