ITHCA Group’s New Initiatives Supercharge Omani Startups Entering Saudi Market

ITHCA Group has rolled out a pair of new initiatives that, frankly, could make life a lot easier for Omani startups trying to break into Saudi Arabia — a market that can be a bit of a faff if you’re navigating it alone. The tech investment arm of Oman’s sovereign wealth fund introduced both a startup accelerator and a venture investment push during an event on 16 December, signalling a stronger Omani–Saudi tech corridor.

The first reveal was Bawabat, a six‑month accelerator built to help Omani tech founders land and scale across Saudi. It comes through a collaboration between ITHCA, local tech outfit al Jabr, and Saudi Arabia’s National Technology Development Programme. I remember meeting a young founder last year who told me how crossing borders in the GCC felt like crossing worlds — so programmes like this are, well… I mean, spot on.

Startups joining Bawabat can access up to 100,000 US dollars from the OTF SCALE Fund, plus support on product localisation, market testing, and finding the right partners. Mohammed bin Salem al Wahibi of al Jabr described the accelerator as a “practical bridge” that trims down the entry journey for Omani companies. And believe it or not, that kind of grounded advice can sometimes matter more than the cash.

NTDP’s CEO, Ibrahim Nimas, pointed to a shared Gulf-wide ambition to push tech entrepreneurship forward. He highlighted that the collaboration should help Saudi and Omani founders reach new markets and investors across the region. I reckon this sort of cross-border alignment is long overdue — the GCC has the talent, but the ecosystems don’t always talk to each other enough.

On the flip side, the event also included a fresh partnership between ITHCA and Vision Ventures, one of Saudi’s active early‑stage backers. The agreement was signed by ITHCA’s Said al Mandhari and Vision Ventures’ Qais al Issa, who said the deal should open doors for Omani founders to plug into the wider regional investor network. Having seen how hard some early-stage founders hustle just to get a meeting, I can imagine a few might be chuffed to bits about that.

ITHCA also announced a rebrand of its early‑stage fund: the Idea Stage fund is now OTF SCALE. Since launch, the fund has made 36 investments, and about 11 percent of its portfolio secured follow‑on capital in under 15 months — not a bad hit‑rate in a region where pre‑seed deals can drag on forever. The fund’s focus remains on AI, fintech, software and digital services, all areas that are shaping the Gulf's digital economy whether we like it or not.

Maha al Balushi, who oversees venture fund management at ITHCA, said the new brand combines the legacy of the old Oman Technology Fund with a push toward scale and bigger regional impact. Al Mandhari echoed that sentiment, calling the new initiatives a “qualitative leap” that should give Omani entrepreneurs more confidence as they expand into neighbouring markets, especially Saudi Arabia.

At Arageek, we often hear from founders who feel their growth is capped simply because they lack regional access. Moves like this might finally shift the dial — even if it takes a bit of time to fully kick in. And yes, I definately think the timing is right.

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