The Rising Omani Startups Programme and Startup Genome have teamed up to spotlight Muscat’s entrepreneurial ecosystem in the Global Startup Ecosystem Report:

• The ecosystem created $313 million in Ecosystem Value from Jul 01, 2021 to Dec 31, 2023. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations.

• Top 10 MENA Ecosystem in Affordable Talent — measures the ability to hire tech talent

• Top 15 MENA Ecosystem in Knowledge — measures innovation through research and patent activity

• Top 15 MENA Ecosystem in Bang for Buck — measures the amount of runway tech startups acquire, on average, from a VC round

• Top 20 MENA Ecosystem in Performance — measures the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding

• Top 20 MENA Ecosystem in Funding — measures innovation through early-stage funding and investor’s activity

• Top 20 MENA Ecosystem in Talent & Experience — measures long-term trends over the most significant performance factors and the ability to generate and keep talent in the ecosystem

• The Cleantech, Industry Ω4.0, and Fintech sectors are highlighted for their density of talent, support resources, and startup activity

• Location, neutral political environment, free-trade zones, and tax exemptions for investors are cited as reasons a startup should move to the ecosystem

“We are aware of the importance of the small and medium enterprises sector and the entrepreneurship sector, especially startups that are based on innovation, artificial intelligence, and advanced technologies. We are training young people and enabling them to take advantage of the opportunities offered by this vital sector to be a basic building block in the national economy.” — His Majesty Sultan Haitham Bin Tarik Al Said, Sultan of Oman

"As a policy advisor and research provider focused on entrepreneurial-based economic growth, we're thrilled to spotlight Muscat’s success stories and disseminate best practices derived from our collaboration with The Rising Omani Startups Programme and Oman’s SME Authority," shares Stephan Kuester, Managing Partner at Startup Genome. "The ecosystem's foundation of accessible, affordable talent, remarkable success stories, and the outstanding engagement of a broad group of stakeholders provide a solid foundation as Oman embarks on implementing its ambitious five-year vision. This vision will see the startup ecosystem and the broader technology sector contribute even more significantly to its economy."

For more insights and an overview of Muscat’s startup landscape, visit the  Muscat Ecosystem Page.

To learn more about startup ecosystems around the world, view the full, free Global Startup Ecosystem Report.