Digital transformation is driving economic and social change worldwide, and Oman is no exception. With rapid technological advancements, digital entrepreneurship has emerged as a crucial tool for economic growth and diversification, aligning with the goals of Oman Vision 2040. This vision seeks to leverage digital innovation and technology to promote sustainable economic progress.
Oman is seen as an ideal destination for digital entrepreneurship, thanks to its supportive environment, advanced digital infrastructure, and government policies encouraging technological innovation. These factors have been recognized internationally, as evidenced by Oman’s rise in global rankings. In 2024, Oman climbed nine places to 41st in the e-government index and moved up 26 places to 22nd in the telecommunications infrastructure index. It was also ranked among the top countries for cybersecurity preparedness.
This success is attributed to the leadership of His Majesty Sultan Haitham bin Tarik, who has prioritized digital development and innovative projects. His support is reflected in initiatives like the National Programme for Artificial Intelligence, which promotes digital innovation and links it to economic growth. The government’s investments in expanding communication networks and providing nationwide high-speed internet lay a solid foundation for entrepreneurs to develop projects that will strengthen the economy and enhance global competitiveness.
Oman has launched various initiatives to support digital entrepreneurship, including the “Ithraa” programme and funding options for small and medium enterprises (SMEs). These efforts provide essential resources for entrepreneurs to start and grow their businesses. The Oman Technology Fund plays a critical role by supporting technological innovation, especially in digital fields, with training, financing, and funding programs for emerging digital projects and start-ups.
A significant opportunity for digital entrepreneurs lies in the country’s transition to a green economy and sustainable development. Digital tools are crucial in sectors like renewable energy, water management, agriculture, and advanced industries. With increasing awareness of sustainability in Oman, there are abundant opportunities for national digital companies to contribute to this shift, similar to the role of start-ups in advanced industrial nations.
However, several challenges remain for digital entrepreneurs. One of the primary obstacles is the gap in technical skills within the labor market. Despite the government’s support, the need for more national talent capable of driving technological innovation is evident. Addressing this issue will require updating educational curricula to keep pace with technological advancements and promoting enrollment in technical and digital programs at universities.
Access to funding is another challenge. While the government provides support, many entrepreneurs face difficulties securing adequate financing, particularly in the early stages. Digital projects, which often require significant investments in research and development, struggle to attract sufficient capital. Solutions may include expanding funding opportunities through private sector institutions and venture capital, encouraging investment in national projects.
In addition to funding, fostering digital literacy and entrepreneurship across society is essential. Promoting innovation and entrepreneurship among youth requires a transformation of the educational system to enhance critical thinking, technical skills, and creativity. Supportive environments for entrepreneurs can be further developed by increasing the number of digital business accelerators and incubators, as well as investment funds focused on emerging digital companies.
Oman can also benefit from partnerships with global technology companies. By collaborating with large international digital firms, Omani entrepreneurs can develop their ideas and enhance their competitiveness. The government can facilitate access to regional and international markets by negotiating expanded partnership agreements with other countries. Furthermore, granting national digital projects priority in government and private sector contracts can help ensure their continuity and growth.
Oman’s digital entrepreneurship ecosystem holds significant promise for fostering innovation and driving sustainable growth, and with the right support, the country is poised to become a global leader in the digital economy.
