Latest news with #ITHCA
Zawya
26-06-2025
- Business
- Zawya
Oman: OQX, ITHCA sign pact to commercialise innovation
MUSCAT: OQX, the research, development and innovation arm of OQ Group, has celebrated a major milestone with the graduation of the first cohort from its business accelerator programme. Thirteen startups took the stage to present their innovative solutions to a panel of energy and entrepreneurship experts from Oman and abroad, marking a significant step in OQ's mission to drive technology-led economic growth. Spanning sustainable energy, clean tech, artificial intelligence and energy asset optimisation, the showcased ventures reflected a bold vision for a smarter, greener future. The event drew interest from investors across Oman, Europe, Asia and South America, offering a platform for cross-border collaboration and shared investment potential. In a key highlight of the event, OQX signed a strategic agreement with ITHCA Group to support commercialisation of outcomes from the accelerator. The partnership aims to connect participating startups with funding opportunities and ecosystem initiatives, strengthening their path to market. The agreement was signed by Dr Ammar Mohammed al Ojaili, Vice President of Innovation at OQ, and Maha bint Mohammed al Balushi, Group Director at ITHCA. Dr Al Ojaili noted: 'This graduation marks a pivotal moment for the accelerator. It is proof of the programme's impact on launching startups that offer real, scalable solutions for the energy sector.' Echoing this, Maha al Balushi added: 'Our partnership with OQ reflects ITHCA's commitment to nurturing Oman's entrepreneurship ecosystem. By aligning innovation with market demand, we believe we can unlock new opportunities in ICT and related sectors while reinforcing Oman's position as a regional hub for technology and investment.' The accelerator forms part of OQ's broader commitment to developing a dynamic, private sector-driven innovative economy. By guiding startups from idea to implementation, OQ aims to foster high-impact ventures that contribute to sustainable national growth and global competitiveness.
Zawya
07-05-2025
- Business
- Zawya
ITHCA invests in US chip firm to boost Oman's tech vision
Muscat – ITHCA Group has signed a strategic investment agreement with US-based Lumotive, a company focused on programmable optical semiconductor technology, as part of efforts to strengthen Oman's position as a regional hub for advanced industries. The agreement was signed by Saeed bin Abdullah al Mandhari, CEO of ITHCA Group, and Sam Heidari, CEO of Lumotive. 'This is our second investment in the sector, as we work towards establishing a centre of excellence for Omani semiconductor designers catering to both regional and global markets,' Mandhari said. He added that the deal reflects ITHCA's approach of partnering with global technology leaders to promote knowledge transfer and build national expertise in semiconductor design. Heidari welcomed the agreement, saying it would support joint work in research, design and skills development. Lumotive's honours include the title of 'Next Big Thing in Tech' from Fast Company and three CES Innovation Awards. Its backers include Gates Frontier, MetaVC Partners, Quan Funds, Samsung Ventures and Uniquest. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Muscat Daily
06-05-2025
- Automotive
- Muscat Daily
ITHCA invests in US chip firm to boost Oman's tech ambitions
By OUR CORRESPONDENT Muscat – ITHCA Group has signed a strategic investment agreement with US-based Lumotive, a company focused on programmable optical semiconductor technology, as part of efforts to strengthen Oman's position as a regional hub for advanced industries. The agreement was signed by Saeed bin Abdullah al Mandhari, CEO of ITHCA Group, and Sam Heidari, CEO of Lumotive. 'This is our second investment in the sector, as we work towards establishing a centre of excellence for Omani semiconductor designers catering to both regional and global markets,' Mandhari said. He added that the deal reflects ITHCA's approach of partnering with global technology leaders to promote knowledge transfer and build national expertise in semiconductor design. Heidari welcomed the agreement, saying it would support joint work in research, design and skills development. Lumotive's honours include the title of 'Next Big Thing in Tech' from Fast Company and three CES Innovation Awards. Its backers include Gates Frontier, MetaVC Partners, Quan Funds, Samsung Ventures and Uniquest.
