Entrepreneurs, business people, government representatives, media and sponsors gathered at Knowledge Oasis Muscat (KOM) on Sunday to meet the 11 semi-finalists of the TKM – Ernst & Young Big Business Idea Competition. Developing online trading solutions, a tourism portal, recycling, a web-based real estate company, SMS brokerage services, environmental friendly fertilizer, recycling and eco-tourism are among the new ventures shortlisted as semi-finalists for this year's competition.
"The competition judges have selected 11 potentially high-growth businesses, drawn from entries from around the sultanate, to compete for 12 months rent free accommodation in the Knowledge Mine incubator program based at KOM plus RO6,000 (US$16,000) in start-up finance," said Abdullah Al Jufaili, TKM Director.The 11 semi-finalists are in the early stages of setting up businesses based on innovative science, technology and design.
o Musallam Al Shukairi – online trading strategies for SMEs
o Amal Al Maamari – eco-tourism hotel
o Abdullah Al Kindi and Zuhair Al Harthy – online real eastate
o Bader Al Hinai – SMS brokerage services for property and goods
o Saada Saif Al Harthy – mobile toilets
o Hamed Al Aghbari and Musallem Al Rahbi – web GIS
o Ammar Al Ghazali – recycling
o Sami Al Khalbani – organic fertilizers
o Talal Rakha – automated business solutions
o Majda Al Hinai and Maha Al Bulushi – tourism portal
o Hadia Al Baluchi - tourism
Semi-finalists have until 21 October to submit revised business plans, judges will then nominate four finalists who will be given the opportunity to deliver five minute power pitches to the judging panel at the Award Dinner on 5 November at the Crowne Plaza Hotel.
According to KOM management, the competition attracted over 70 entries and sponsorship for this year's program was offered by Ernst & Young; National Bank of Oman; Ericsson; Nawras; ITA; and The Week. KOM's Director General, Mohammed Al Maskari welcomed the guests and competition semi-finalists, saying after the event: "The business ideas submitted were excellent and the enthusiasm for the competition has been tremendous. We're delighted with the response to this important and annual national business initiative. "
Al Jufaili added: "The idea behind Sunday's gathering was to provide the 11 semi-finalists with the opportunity to meet the competition's supporters and judges as well as meet potential investors and partners and get well-earned media exposure to help turn dreams into realities."