KR Eshraqa’s ‘Tasees Program’ and SMEDA launch sixth pre-incubation program for startups

Muscat: The Khimji Ramdas (KR) Eshraqa ‘Tasees Program’, in collaboration with SME Development Authority (SMEDA), is pleased to announce the commencement of the sixth edition of its Pre-incubation Program for startups.

Designed to equip entrepreneurs with the necessary skills and knowledge to translate their innovative ideas into successful businesses, Tasees’ Pre-incubation Program guides participants through the essential phases of business development.

It is important to note that SMEs undergoing the Program are eligible to apply for a loan through the Authority’s funding initiative (Al Azm) upon completion of the Jahiziah program.

With the objective of providing entrepreneurs with the essential tools and knowledge to translate their concepts into real-time businesses, the Pre-incubation Program consists of comprehensive modules spanning over three weeks. These modules include in-class instructional sessions covering idea validation, business model canvas, marketing plans, operations planning, and financial management, followed by individual coaching and final business plan presentations.

“We are elated to begin yet another Pre-incubation for our talented startups in collaboration with SMEDA,” stated Nailesh Khimji, Director, Khimji Ramdas. “’Tasees’ was launched to foster an entrepreneurial spirit among Omani nationals, build a thriving entrepreneurial environment, and fast-track the nation’s economic diversification efforts, in line with Vision 2040. Since its inception, it has helped nurture the dreams of aspiring local entrepreneurs and has paved the way for several innovative businesses.”

The nomination advertisements for the pre-incubation program were released on 4th April 2024 by SMEDA, generating an overwhelming response across social media platforms and from across various governorates of Oman. More than 170 participants submitted their business ideas, out of which 25 were selected to participate in the program.

Echoing the sentiments of partnership and support, Qais Rashid Al Toubi, ‏General Supervisor of ‘The Rising Omani Startups’ Programme at the SMEs Development Authority (SMEDA) remarked, “We take pride in our collaboration with KR Eshraqa’s ‘Tasees’ in implementing pre-incubation programs that empower entrepreneurs and foster innovation. This program exemplifies our shared commitment to nurturing small and medium enterprises and providing them with the necessary resources to thrive.”

Established in 2018, ‘Tasees’ is a part of the Eshraqa Foundation, Khimji Ramdas’ Social Development Arm, and aims to play an important role in incubating, mentoring, and guiding budding entrepreneurs. It is a one-stop-solutions-provider for start-ups and SMEs, giving them the scope and opportunity to change the socio-economic fabric in the Sultanate of Oman.

Khimji Ramdas’ Eshraqa Foundation has been established on the premise that the private sector has responsibility towards the development of local communities and empowering talented individuals in the Sultanate of Oman. By working towards nation-building at the grassroots, Eshraqa aspires to contribute meaningfully towards building infrastructure that will lead to the enhancement of knowledge, skills and capabilities in society.