OMINVEST adopts 2 seats in Zubair SEC’s Direct Support Programme 2020
Tuesday, October 29, 2019

For the third year in a row, Oman International Development and Investment Company (OMINVEST), one of the largest investment companies in the Middle East, has renewed its support to Zubair Small Enterprises Centre’s (Zubair SEC) flagship Direct Support Programme (DSP) by adopting two seats in the 2020 round.

The “Support Partner” agreement was signed between Hani Bin Muhammad Al Zubair, Chairman of Zubair Automotive Group and Board Member of The Zubair Corporation and Abdulaziz Bin Mohammed Al Balushi, Group CEO, OMINVEST during the official launch event of the sixth edition of the Direct Support Program. Strategic partners from public and private sectors, officials from SME-linked institutions, entrepreneurs, SME owners, members of previous programme editions were among those who attended the launch event of the popular initiative which has been providing support and guidance to high-potential young entrepreneurs and small-business owners over the last six years.

The winners of the sixth edition of Zubair SEC’s Direct Support Programme will be announced in first quarter of 2020 during which the names of the two member companies chosen for the OMINVEST adopted seats will be revealed. By adopting such seats, OMINVEST offers financial grants, business development opportunities, and a wealth of expertise to the selected members within the Direct Support Programme.

During the previous edition of the Programme for 2018, OMINVEST had adopted the seat of member Bahiya Hilal Sultan Al Shuaibi, founder of Global Space and Technology Company. Prior to that, Majed Saud Ahmed Al Battashi and Mahmoud Al Amri’s company Recycling Services were selected for the OMINVEST seat within the bounds of the Programme for 2017.

Abdulaziz Mohammed Al Balushi, Group CEO, OMINVEST said, “We are pleased to sponsor two seats this year following our  successful collaboration with Zubair SEC in the previous three years. It has been a great experience for OMINVEST to sponsor and share knowledge with innovative entrepreneurs. Last year; we were pleased to adopt Bahiya’s Global Space and Technology Company project which has a solid mission to contribute to the establishment of space-tech expertise in Oman. We have also been delighted to collaborate with Majed and Mahmoud of Recycling Services to highlight the importance of raising a culture of environmental responsibility, specifically waste management. OMINVEST will continue to be a catalyst for empowering local businesses and creating opportunities for Omani nationals.”

He added, “We would like to applaud the Direct Support Programme which is an inspiring model. Zubair SEC has been supporting entrepreneurs and small-business owners through their distinguished services and initiatives. We appreciate Zubair SEC for their support to small enterprises which has stood out throughout the past six years and has created significant impact.”

Mahmoud Al Amri of Recycling Services, earlier winners of the Direct Support Programme for 2017 said, “My partner Majed and I would like to thank OMINVEST for their much-needed backing. They have constantly ensured that start-ups such as ours are supported so that we can continue to grow and thrive. OMINVEST through its financial leasing associate, National Finance, had extended us support to buy a specialised truck which enabled Recycling Services to expand the scope of business and offer extended recycling support. The truck is fully equipped to safely collect and transport waste lead acid batteries (LAB) to recycling facilities. This modified truck increased our company's capacity from 100 tons to 400 tons per month, and increased the efficiency in terms of human resources from six employees per eight tons to one employee per eight tons, in addition to reducing the working time from 16 hours per eight tons to one hour per eight tons.”

Stating that OMINVEST’s renewed support echoes the significance of the Direct Support Programme, Mohammed Mubarak Al Hasani, Chief Communications Officer, The Zubair Corporation (Z-Corp) and Supervisor of Zubair SEC said, “OMINVEST’s backing benefits and cultivates a robust and spirited ecosystem that promotes entrepreneurship and innovation. Receiving support from Oman’s leading investment conglomerate signifies endorsement to the work being done by Zubair SEC. OMINVEST and Z-Corp contribute to the economy of Oman by connecting talent with knowledge, capital, and networks. This kind of patronage will scale up the accomplishment stories of start-ups and inspire an optimistic trend as far as partnerships across all business sectors and stakeholders are concerned.”

Zubair SEC’s Direct Support Programme is considered one of the most important programmes in the field of entrepreneurship in the Sultanate. The programme aims to create a spirit of positive competition between Zubair SEC’s members, aiming to earn a package of services including valuable advisory and business development as well as a financial grant that is spent through a set working plan implemented in cooperation between the Centre and the chosen member.

Zubair SEC has recently launched the sixth round of its flagship Direct Support Programme and is currently receiving applications to join the programme, as 10 applicants will be selected to join the Programme in its 6th round. All details are provided on its website and deadline for applying is 28 November 2019.

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