New venture firm ‘Ithmar’ to be formed

Monday 30th, November 2015 / 20:01 Written by
New venture firm ‘Ithmar’ to be formed

Muscat – The two-day Oman Entrepreneurship and Entrepreneurship Capital 2015, organized by the Ministry of Commerce and Industry in collaboration with the Public Authority for SMEs Development ‘Riyada’ , ‘Al Raffd’ Fund and ‘Iskan’ Oman Investment will start next Sunday at Crowne Plaza Hotel in the presence of of Dr Ali bin Masud al- Sunaidy, Minister of Commerce and Industry.
The Minister of Commerce and Industry said that the conference will help entrepreneurs to understand the developments taking place at the world markets which have great effect on the economies of many advanced countries. He added that the conference will focus on the long and short terms goals related to creating job opportunities, enhancing new business companies and facilitating economic expansion, as well as market expansion and human resources development.
He also said that the Oman Venture Capital Company ‘ Ithmar’ will offer a seeks to become a platform for all startup companies that have good potentials for growth. It also seeks to provide alternative sources of finance through financing investors and capital investors, as well as displaying successful experiences and models at the different parts of the world to benefit from them.
The conference is the first of its kind in the Sultanate with the aim of advising entrepreneurs, companies, businessmen and investors of the importance of entrepreneurship capital investment and its feasibility in encouraging the startup projects, achieving corporate social responsibility , helping the relevant public organizations to provide investment friendly environment that enhances the investments of the entrepreneurship capital.
The main aim of the conference will be to unveil the establishment of the first company for entrepreneurship capital through partnership among public and private investors from the Sultanate.
The conference, in which more than 250 participants will take part, seeks to establish three new start up companies. The investment company ‘ under incorporation’ , will be called ‘ Oman Entrepreneurship Capital Company S.A.O.C ‘ Ithmar’.
The two-day conference will cover a number of important themes the most important of which are the overview of the entrepreneurship capital investments, the factors of the success of entrepreneurship capital investment, the entrepreneurship capital investment and the current status and future of such investments in the Sultanate.
The conference is supported by a number of organizations interested in supporting entrepreneurship, such as ‘ Riyada’ , ‘Al Raffd Fund and National Business Center. The conference is also co-organized by KPMG, Trowers & Hamlins LLP, Cost and Administrative Accounting Institute and Pulse 1 Oman LLC.
The conference will provide an ideal platform for entrepreneurs to get alternative sources of funds and contact with investors who are interested in supporting the startup projects that have good potentials for growth.
Besides entrepreneurs, students from Sultan Qaboos University (SQU) and other higher education institutions will take part in the conference.
A number of officials from private companies, family companies, the government and potential investors for Oman Entrepreneurship Capital Company will take part in the conference as well.

— Ends/MS/FS


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