- ITHCA Group Announces New Developments for the Idea Stage Fund and Unveils a New Identity to Support Tech Startupsو
- The fund focuses on empowering founders to develop prototypes and build scalable tech companies across multiple sectors
- Launch of “Gateway” Business Accelerator in collaboration with Al Jabr and with support from Saudi Arabia’s National Technology Development Program (NTDP)
ITHCA Group has announced a new package of developments related to the Idea Stage Fund, which it manages in partnership with Al Jabr Company, alongside the launch of the program’s new identity under the name OTF SCALE.
The move reflects a growing momentum toward strengthening support ecosystems for early-stage technology startups.
The fund has emerged as one of the key enablers for entrepreneurs, having completed 36 investments in a relatively short period, with 11% of portfolio companies successfully securing follow-on funding, reinforcing its position as one of the fastest-growing and most impactful early-stage support programs.
OTF SCALE focuses on enabling founders to develop prototypes and build scalable technology companies across high-potential sectors, including artificial intelligence, fintech, software, and digital services.
The fund operates under a joint execution model aimed at preparing startups to compete in both regional and international markets.
The announcement coincided with the launch of the “Gateway” Business Accelerator, established through a collaboration between Al Jabr and ITHCA Group, with support from Saudi Arabia’s National Technology Development Program (NTDP).
The six-month accelerator is designed to help Omani startups enter the Saudi market and expand regionally, offering an integrated business development framework that includes cross-border partnership building, connections with investors and strategic partners in the Kingdom, specialized mentorship sessions, and hands-on support in localization, product testing, and market readiness validation.
Participating startups will also be eligible for exclusive investment of up to $100,000 from the OTF SCALE Fund.
The program targets startups that have moved beyond the prototype stage, begun generating revenues or attracted investment, and are seeking to establish a sustainable presence in the Saudi market—highlighting the accelerator’s role in strengthening economic integration and fostering innovation ecosystems between Oman and Saudi Arabia.
The event concluded with the signing of an investment agreement between ITHCA Group and the Saudi Vision Ventures Fund, one of the region’s leading venture capital firms specializing in early-stage technology investments.
The agreement aims to expand Omani startups’ access to Saudi Arabia’s investment ecosystem and leverage the fund’s regional expertise and networks, supporting growth and expansion in increasingly competitive markets.
The agreement was signed by Eng. Saeed bin Abdullah Al Mundhiri, CEO of ITHCA Group, and Qais Al Issa, CEO of Saudi Vision Ventures Fund.
Eng. Saeed Al Mundhiri stated that the newly announced initiatives represent a qualitative leap in Oman’s innovation and technology support ecosystem, enabling entrepreneurs to expand confidently into regional markets—particularly Saudi Arabia.
For his part, Mohammed bin Salem Al Wahibi, CEO of Al Jabr Company, noted that the “Gateway” accelerator offers a comprehensive and practical pathway for Omani startups to enter the Saudi market through a well-structured approach.
He emphasized that sustainable expansion is built on trusted cross-border relationships, real-world product validation, and operational and investment partnerships grounded in a deep understanding of market needs.
Meanwhile, Qais Al Issa, Co-founder and CEO of Saudi Vision Ventures Fund, expressed pride in the collaboration, describing it as a strategic step to support Omani tech startups, connect them with regional investment networks, accelerate growth trajectories, and unlock funding and partnership opportunities that translate into sustainable economic impact.
Ibrahim Neimaz, CEO of the National Technology Development Program (NTDP), highlighted that the partnership between Saudi Arabia and Oman reflects a shared vision to support tech entrepreneurship and strengthen startup growth across the region.
He noted that the program’s support—through collaboration with Al Jabr Accelerator and Idkak Group—will enable startups to access new regional markets, connect with investors and partners, and capitalize on growth opportunities within a more integrated regional ecosystem.
