Oman Reveals $395 Million Startup Valuation at National Ceremony

Muscat’s Royal Opera House recently hosted the Prospects of Promising Omani Startups ceremony, marking a major milestone for the nation’s tech economy. Presided over by His Highness Sayyid Bilarab bin Haitham Al Said, the event concluded the foundational phase of the Program of Promising Omani Startups (POPS). This national initiative has helped hundreds of entrepreneurs turn innovative concepts into active, commercially viable businesses across the Sultanate. Data shared during the event revealed that 205 technology-based startups were established between 2023 and 2025. These ventures now hold a collective market valuation of approximately $395 million, showing strong momentum in the regional investment landscape. Furthermore, the initiative has directly created over 500 specialized job opportunities for Omani youth, strengthening the local talent pool. Detailed performance metrics are available via the Oman News Agency.

The ceremony highlighted the scaling success of the ecosystem, with 22 startups achieving individual valuations of $5 million or more. A total of 78 companies secured critical investment during the last two years, supported by a growing network of 30 business incubators and 10 accelerators. This growth indicates that Oman is moving beyond early-stage experimentation toward a mature, investment-ready startup environment.

A major announcement involved the launch of a new sustainability plan titled An Innovation Journey that Starts with an Idea and Builds a Sustainable Economy. This framework moves the program from a pilot phase into a permanent institutional fixture. The new governance model is designed to maximize long-term economic returns and help Omani startups enter international markets more effectively.

The POPS initiative remains a central component of Oman Vision 2040, which focuses on diversifying the national economy. By fostering a collaborative network of government bodies, private investors, and research centers, the program ensures that technology remains a primary driver of growth. This unified effort aims to create a self-sustaining cycle of innovation and job creation for future generations.