NDRC To Run Accelerator In Oman

23 Nov 2017 | 09.07 am

NDRC To Run Accelerator In Oman

Irish investment agency partnering with Oman government

23 Nov 2017 | 09.07 am

Irish tech investor and accelerator NDRC is partnering with the Oman government to run a pre-seed accelerator programme in the Gulf state.

NDRC will work in the Oman Technology Fund (OTF), a fund established by the government in Oman, to deliver the accelerator in Muscat.

Up to ten young ventures from Oman and the surrounding region will be selected by OTF to participate. NDRC will provide accelerator expertise and personnel throughout the three-month programme, with OTF investing the required capital in the companies.

The accelerator will commence in January 2018 and will include a two-week visit by the Omani ventures to Dublin in early 2018 to exchange learnings with Irish startups.

OTF was launched by Oman Investment Fund (OIF) in October 2016, and recently partnered with 500 Startups, a San Francisco-based VC fund and global accelerator network, to train and accelerate growth of later-stage technology startups.

Speaking about the partnership, Ben Hurley, CEO of NDRC, said that it was a positive development for NDRC. “[It] builds on the international investment being secured by our portfolio ventures, and reflects well on how Ireland’s startup enterprise ecosystem is viewed internationally.”

Yousef Al Harthi, OTF chairman, said that the NDRC partnership highlights shared principles regarding the startup ecosystem.

“Between OTF and NDRC, we will help with their progression, development, innovation and access into both local and regional markets. These startups will also become better equipped to compete with larger companies and support the Oman economy,” he added.

 

Photo: Maha Al Balushi, Oman Technology Fund, and Gary Leyden, NDRC

 

 

 

Comments are closed.