Eshraqa Entrepreneurship Academy is stepping up to support innovative Omani SMEs
The Eshraqa Entrepreneurship Academy (EEA) conducted a three months long pre-incubation program for SMEs in Oman. This venture was a result of EEA’s commitment to be the sustenance required for the positive growth of the Sultanate. Through the provision of such essential tools and financial support to the emerging businesses, EEA has made a way for sustainable development in the country.
The program was hosted by the Khimji Training Institute and EEA worked on it in association with Riyada and National Business Center (NBC). Through this program, 22 budding entrepreneurs that had the most impactful business ideas were selected from over 200 applications. These emerging entrepreneurs were then provided with training and coaching by the mentors from EEA, Riyada and NBC. They were then assisted in the creation of business models for their business ideas. Their ideas and business models were finally presented to investors and financial institutions.
This pre-incubation program is expected to increase employment opportunities, promote the business sector and generate income. It will also lay the foundation of a sustainable development by adding value to the economic diversification of the country.
An event was held by Riyada on the successful completion of the entire program. At the event, three participants presented their business proposals along with related data on market research, financial estimates and investment opportunities. The three start-ups included Yas'eer A.C Maintenance, a mobile app providing end-to-end on-the-move service solutions; Last Mile Connectivity, an app providing internet solutions and PHI Design Studio that excels at architectural and interior design solutions.
The Director of Khimji Ramdas, , Nailesh Khimji congratulated the participants on the completion of this programme and said, “We are extremely excited to follow their journey towards business success. Our belief in the aptitude and capacity of the Omani youth propels us forward and remain true to our cause; to be the sustenance required to add more value to the positive growth of the nation.”
Nadeem Ahmed, General Manager of Khimji Training Institute said that, “The success of these remarkable entrepreneurial ventures lies in the hands of the youth of Oman. Our role as mentors has served a fruitful purpose to encourage and elevate promising ideas into mature and developed business units. We will continue to create opportunities and empower the youth with knowledge, skills and resources that will enhance their learning curve.”