Wednesday 07 / January / 2026
Muscat: The global integrated energy group OQ has launched an ambitious startup accelerator programme in the energy sector as part of its efforts to promote small and medium enterprises (SMEs) and entrepreneurship.
The initiative was launched to encourage entrepreneurship and self-employment and also to develop technical solutions appropriate for the requirements of the energy sector.
The initiative aims to develop between 10 and 20 startup companies each year in the oil, petrochemical and alternative energy industries for 6 months.
The initiative also includes providing expertise and guidance by specialists from OQ who will guide and support emerging companies, in addition to transferring knowledge and supervising these companies. The programme also provides vital financing for these companies and OQ's commitment to become a partner in successful companies by purchasing a stake in promising startups to empower them.
OQ also will work to support such emerging companies in the field of research and innovation to encourage them to find solutions to complicated challenges in the sector, as well as to benefit from modern technologies.
It is noteworthy that the number of SMEs registered in the OQ supply system has reached 2,200, of which 617 institutions have a Riyada card. OQ has also launched several other programmes aimed at promoting the growth and development of SMEs and increasing their contribution to the OQ supply chain. These include an allocation of 10 percent of total spending on purchases, fully or partially, to small and medium enterprises.
