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Sas For Excellence Initiative

 

Sas For Excellence Initiative

As part of the Ministry’s efforts to support startups, Sas For Excellence Initiative aims to become a key driver for employing Omani talent within the ICT sector and strengthening reliance on local companies to develop and deliver digital products and technology services. This contributes to enhancing digital sovereignty and reducing dependence on imported technology solutions and services.

The initiative aims to select 5 promising Omani technology companies that demonstrate high-growth potential and scalability across regional and international markets through innovative and scalable technology products and services, supported by a range of strategic enablement tools.

According to the initiative’s roadmap, participating companies are expected to triple their Omani workforce over the next five years and expand into at least three international markets outside the GCC region. The initiative is also projected to generate approximately 2,500 direct and indirect employment opportunities and increase the market value of Oman’s startup ecosystem by an average of 108%, thereby strengthening the contribution of the digital economy to GDP and reinforcing digital sovereignty across government digital projects and platforms.

Initiative Partners

  • Ministry of Labour
  • Development Bank
  • Oman Investment Authority
  • Projects, Tenders and Local Content Authority
  • Ministry of Finance
  • Petroleum Development Oman

1.Triple the national workforce, directly and indirectly, by at least threefold compared to the 2025 baseline over five years through enabling five high-growth companies.

2.Strengthen digital exports by enabling each company to enter at least three markets outside the GCC and increase export revenues.

3.Empower local businesses to succeed in regional and international markets while strengthening Oman’s global economic footprint.

4.Build globally competitive startups that contribute to GDP growth, economic diversification, increased adoption of Omani digital products and services, and enhanced digital sovereignty.

5.Encourage innovation and expansion in ICT, artificial intelligence, emerging technologies, fintech, green technologies, cybersecurity, space technologies, and deep-tech sectors.

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The selection process is based on defined criteria to ensure fairness, scalability potential, and alignment with financing and wage-support requirements. Key criteria include:

1. Legal Establishment:

  • The company holds a valid Omani Commercial Registration (CR).
  • The company is engaged in a technology-related business activity.
  • Omani ownership by the ultimate beneficial owners is no less than 51%.
  • The company has maintained tax records for the past two years.

2. Omanisation:

  • An Omanisation rate of no less than 50% in full-time positions at the time of application.
  • A minimum of 15 Omani employees.
  • Omani nationals occupy at least 50% of senior executive management positions on a full-time basis.

3.Technological Innovation:

  • The company owns and has developed a technology-based product or service.

4.Growth Trajectory:

  • A Compound Annual Growth Rate (CAGR) of at least 15% in revenue over the past two years.
  • The company has secured investment equivalent to at least 10% equity ownership.

5. Operational Experience and Core Business Scope:

  • A minimum of three years of accumulated operational experience.
  • The company operates in priority sectors within the digital economy, such as Information Technology (IT), Artificial Intelligence (AI), Financial Technology (FinTech), Green Technology, Cybersecurity, Space Technologies, and Deep Technologies.

6.Business Plan and Threefold Growth Roadmap:

  • The company has a detailed business plan and growth roadmap targeting expansion into international markets, with the objective of tripling its national workforce, expanding its presence in foreign markets, and increasing its market value within five years.

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The top five companies that achieve the highest evaluation scores will be selected. In collaboration with strategic partners, a range of support mechanisms will be provided, including:

1.  Wage support for up to 40 Omani employees per company, in addition to any existing approved requests, where applicable.

2.   Access to liquidity and financing support of up to OMR 1 million per company.

3. Establishment and activation of a pre-qualified category of technology companies, enabling them to benefit from:

  • Allocation of tenders valued between OMR 250,000 and OMR 500,000 through limited tendering procedures.
  • Competitive opportunities among pre-qualified technology companies for projects undertaken by government units and Petroleum Development Oman , based on designated areas of specialization.

Note: Companies listed under the SAS Excellence Initiative must also be approved under the pre-qualification programme to benefit from this feature.

4.   A financial preference of 10% for pre-qualified technology companies in tenders valued below OMR 250,000.

Note: Companies listed under the SAS Excellence Initiative must also be approved under the pre-qualification programme to benefit from this feature.

5.   An exclusive financial preference of 20% for pre-qualified technology companies that are also enrolled in the SAS Excellence Initiative in tenders valued above OMR 500,000.

Note: This benefit is exclusive to companies participating in the SAS Excellence Initiative and approved under the pre-qualification programme and does not extend to other pre-qualified companies.

6.  Priority consideration in providing technology solutions to address challenges and opportunities within companies affiliated with the Oman Investment Authority (OIA).

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