KR Eshraqa’s ‘Tasees Program’ and SMEDA conclude sixth pre-incubation program for startups
June 5, 2024

Muscat: The Khimji Ramdas (KR) Eshraqa ‘Tasees Program’, in collaboration with SME Development Authority (SMEDA), has successfully concluded the sixth edition of its Pre-incubation Program for startups.

Designed to equip entrepreneurs with the necessary skills and knowledge to translate their innovative ideas into businesses, Tasees’ Pre-incubation Program guided participants through the essential phases of business development. SMEs that underwent the Program were eligible to apply for a loan through the Authority’s funding initiative (Al Azm) upon completion of the Jahiziah program.

With the objective of providing entrepreneurs with the essential tools and knowledge to translate their concepts into real-time businesses, the Pre-incubation Program consisted of comprehensive modules spanning over three weeks. These modules include in-class instructional sessions covering idea validation, business model canvas, marketing plans, operations planning, and financial management, followed by individual coaching and final business plan presentations.

Nineteen participants presented their business projects, aligning with the pillars of Oman Vision 2040; in various fields, including manufacturing, tourism, agriculture, fish farming, technical applications, and educational and consulting institutions. They presented their business plans to the evaluation team, which included Qais Rashid Al Toubi, ‏General Supervisor of ‘The Rising Omani Startups’ Programme at the SMEs Development Authority (SMEDA), and Mr. Mahmoud bin Khalifa Al Saqri, CEO of Eshraqa Foundation.

Nailesh Khimji, Director, Khimji Ramdas stated, “The Eshraqa Foundation’s ‘Tasees’ has successfully guided and trained diverse groups of entrepreneurs to achieve excellence. Alongside SMEDA, we are committed to empowering them to leverage available entrepreneurship resources and contribute effectively to the Sultanate’s economic development, in alignment with Oman Vision 2040.”

Expressing his appreciation, Qais Rashid Al Toubi, General Supervisor of ‘The Rising Omani Startups’ Programme at the SMEs Development Authority (SMEDA) said: Our collaboration with KR Eshraqa’s ‘Tasees’ has resulted in training and qualifying many aspiring entrepreneurs, equipping them with the essential skills and competencies needed for sustainability and risk management. This program exemplifies our joint commitment to supporting small and medium enterprises and providing them with the necessary resources for success.”

Several participants expressed gratitude for the program’s impactful training and skill development. Omar bin Talib Al-Ghafri, Founder of the "Waselni" platform mentioned, “I thank the Eshraqa Foundation for its efforts. This program enhanced my personal and professional skills, particularly in marketing, financial management, and feasibility studies. Special thanks to Saeed Al-Sisi for his positive contribution.”

Ibtihaj Bint Saeed Al-Bahria added, “I appreciate Eshraqa’s Tasees program, which helped develop my entrepreneurial skills and assisted me in preparing a marketing plan and feasibility study.”

Yousef Ahmed Saeed Al Riyami, Founder of Fawah Investment Company LLC, said, “Being able to undergo the pre-incubation program has been a privilege. It provided me with essential entrepreneurial skills, including business model preparation, marketing strategies, market analysis, and competitor analysis, enabling me to lead my business professionally.”

The Khimji Ramdas (KR) Eshraqa Foundation has been established on the premise that the private sector has a responsibility towards the development of local communities and empowering talented individuals in the Sultanate. By working towards nation-building at the grassroots, the Foundation aspires to contribute meaningfully by providing infrastructure that will lead to the enhancement of knowledge, skills, capabilities, health and overall wellbeing in society.

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