Date: April 4, 2017
With the aim to further encourage the growth of small and medium enterprises (SMEs), Innovation Park Muscat (IPM) signed a collaboration agreement with Zubair Small Enterprises Centre (Zubair SEC) at The Research Council of Oman (TRC).
The signing ceremony was attended by HE Dr Hilal Al Hinai, Secretary General of TRC, Khalid Muhammad Al Zubair, Managing Director of The Zubair Corporation, and executive representatives from TRC, IPM, The Zubair Corporation and Zubair SEC.
Innovation Park Muscat (IPM), a project of national significance, is a TRC initiative designed to create a facilitating environment for researchers, scientists, start-ups, SMEs and multinationals. It aims to augment Oman’s economic, entrepreneurial and knowledge base by supporting the growth of innovative and research-driven domestic and international companies in areas that include energy, health science, water and environment and food and biotechnology.
Zubair SEC, a flagship social impact initiative by The Zubair Corporation, has more than 450 members who have access to comprehensive services including advisory, capacity building, networking opportunities, and business development support.
The MoU between IPM and Zubair SEC details the areas of collaboration whereas Zubair SEC will extend advisory services to applicants of the IPM’s incubators and provide them with guidance on how to prepare business plans and provide counselling on management, commercial and financial planning aspects.
Zubair SEC will also work with IPM on equipping entrepreneurs for assessment by IPM by reviewing their business plans. Moreover, in partnership with Zubair SEC, IPM will extend advisory services to Zubair SEC members and explore business development opportunities for them.
There will be further collaboration in areas relating to R&D (research and development) and market opportunities for start-ups.
Dr Abdul Baqi Ali Al Khabouri, Director of the Science Park Department at The Research Council said: “this collaboration agreement is one of a group of agreements that Innovation Park Muscat will sign with organisations and initiatives that are active in entrepreneurship development and business incubation services. This approach aligns with IPM’s vision for sharing expertise and building collaboration with other organisations, with the aim of promoting job creation for entrepreneurs and owners of SMEs that are based on scientific research and innovation. This collaboration with Zubair SEC reflects the interest of The Research Council in general and IPM in specific towards building a culture for scientific research and innovation, and knowledge based economy, as well as extending support and quality interest in researchers and innovators through the development of entrepreneurial projects and enabling the current generation to move further towards knowledge-based economy.
He added: “the signing of this collaboration agreement with Zubair SEC reflects the importance of cooperation and joint efforts between organisations and initiatives that support scientific research and innovation and the private sector. The agreement includes areas of collaboration between both parties including promotional campaigns regarding joint interests inside and outside the Sultanate, as well as facilitating the expertise of both parties as per the set plans, to encourage companies to have investment projects with IPM in accordance with the relevant laws and regulations, while each party will comply by the Intellectual Property of others, all with the objective of promoting business entrepreneurship locally.
Stressing the importance of such partnerships, Khalid Muhammad Al Zubair, Managing Director of The Zubair Corporation said, “Over the past four years since establishing Zubair SEC, we have been very keen on building a support ecosystem that provides Omani start-ups and small enterprise owners with comprehensive services that enable them to grow and sustain their projects. The opportunity to acquire and develop knowledge, expertise, and insight regarding local and regional market specificities has been an advantage we have extending to our members. We realise year on year, that collaboration and partnership in the knowledge building domain could be one of the most strategic efforts one can put in supporting SMEs in the Sultanate. Research and development is part and parcel of the success of any business that aims to succeed and grow.”
He added, “We are especially delighted to be collaborating with The Research Council through Innovation Park Muscat and joining hands in bringing yet more value and quality service, together, to the SMEs sector in the Sultanate. We are looking forward to create together new synergies and opportunities that would leverage on the many existing efforts, and bring about more value and opportunities for innovation and development.”
IPM as a project was initiated and is being funded by The Research Council of Oman (TRC). TRC is Oman’s exclusive research funding body and leader of research development in the country. Established in June 2005, TRC encourages the promotion and application of research, innovation and science to create value that serves business, markets and the needs of society. TRC is both a policy-making institution and a funding agency.
Zubair SEC has been one of the first initiatives to explore opportunities for collaboration with various public and private organisations to expand and scale up with the desired impact of developing and supporting SMEs in the Sultanate.