Muscat: OQ Group launched the second cohort of its Business Accelerator Programme, comprising 22 specialized startups from within and outside the Sultanate of Oman. This initiative falls within the framework of the Group's efforts to support innovation by connecting startups with operational and investment opportunities, and empowering them to develop technological, engineering, and environmental solutions in the fields of energy, sustainability, and advanced technologies.
According to Oman News Agency, the Business Accelerator Program is one of the strategic programs OQ Group relies on to enhance in-country value (ICV) and support the transition towards a more diversified and sustainable economy, achieving a long-term impact on both the energy sector and the national economy.
The participating companies in this cohort will focus on developing solutions in the fields of artificial intelligence, the smart economy, energy efficiency improvement, water desalination, corrosion management, and asset integrity; contributing to raising operational efficiency, enhancing sustainability, and addressing technical and operational challenges in the energy sector.
The second cohort witnessed a growth in the volume of applications and the level of competitiveness. The program received submissions from 49 countries. Applications from within the Sultanate of Oman constituted 81% of the total submissions, alongside international participation from the United Kingdom, Hong Kong, and Taiwan, reflecting the awareness of the program and its stature as a global catalyst for innovation and entrepreneurship.
The selection process relied on a methodology focusing on the startups' readiness, scalability, and the strategic alignment with OQ's priorities.
OQ's Accelerator Program provides a platform for qualifying and enabling startups through a training curriculum, technical and commercial mentorship, business development sessions, and capacity-building workshops. The program also provides access to sector experts, OQ's operational assets, real-world testing environments, as well as supporting companies in investment readiness, building scalable business models, and connecting them with networks of investors and strategic partners.