In Order to Support Innovation in the Industrial Field, the Small and Medium Enterprises Development Authority Signs an Agreement with Sohar University to Establish a Manufacturing Incubator
The Small and Medium Enterprises Development Authority signed an agreement with Sohar University to establish, manage and operate an incubator specialized in manufacturing industries for entrepreneurs at Sohar University to support and develop new small and medium projects and to provide a stimulating environment and support that ensures the continuity of the entrepreneur in various business environments which contribute to the Omani economy.
The agreement aims to create a group of start-up companies with high technical and administrative capabilities in the field of manufacturing industries, and to provide a stimulating environment, administrative and technical support that ensures the continuity of the entrepreneur in different business environments in the fields of training, consulting, marketing, designing and developing manufacturing plans, selecting equipment and communicating with suppliers. Furthermore, support the establishment of knowledge transfer networks and intellectual property, and support innovation in the industrial field.
The agreement was signed on behalf of the authority by Her Excellency Halima bint Rashid al-Zaria, Chairperson of Small and Medium Enterprises Development Authority (SMEDA), and on behalf of Sohar University by Professor Barry Winn, Vice-Chancellor of the university.
Based on the agreement, incubating companies will have multiple means of support to develop their start-up projects and maintain their sustainability such as economic feasibility studies, mentoring programs, and essential guidance, whether commercial, administrative, marketing, or technical, help in preparing appropriate strategies for projects; in addition, providing office space, and the criteria for selecting incubators and incubation program will be announced later.
This agreement comes as a continuation of the authority’s efforts to launch three incubators and business centres in the special economic zones and free zones in Duqm, Sohar, and Salalah, to chart the future of entrepreneurship in the logistic sectors and activities of the free and economic zones of the Sultanate, and to empower the owners of emerging and innovative companies and essential knowledge and refine them for the labour market.