- Agreement will closely examine potential innovations
- Programme will focus on energy, food, and healthcare sectors among others
Muscat, December 23, 2018: Innovation Development Oman Holding SAOC (IDO Investments) recently signed an Memorandum of Understanding (MoU) with the Sultan Qaboos University (SQU) for the establishment of a Research and Innovation Cooperation Programme. The agreement was signed between Dr Rahma Al-Mahrooqi, Deputy Vice-Chancellor for Postgraduate Studies and Research at SQU, and Dr Philip Boigner, CEO of IDO Investments. The programme will see IDO Investments identify and evaluate innovative projects for potential investments opportunities in the Sultanate.
Commenting on the signing, Dr Philip Boigner said, “It gives me great pleasure to announce our collaboration with SQU for this new programme; one that will highlight breakthrough projects that may prove to be fruitful in enhancing the innovation and entrepreneurship sector in Oman. With the implementation of this new programme, IDO Investments will conduct several technical studies and ensure that the projects presented by SQU entail subsequent benefits, for both the Sultanate and its citizens.”
Dr Rahma Al-Mahrooqi noted, “Through this agreement, we will be able to play an integral role in contributing to the Sultanate’s social and economic progress and long-term objectives. Additionally, it will also simultaneously ensure that our ideals are aligned with those of IDO Investments; especially so when it comes to supporting the development of creative technologies.”
“This initiative is only the beginning of a larger plan, which will involve integration with the local market to enhance technology, innovation and research. Additionally, it will also pave a way for breakthrough products that can prove to be a turning point in the healthcare, energy and agriculture sectors,” Dr. Philip adds.
Established in 2016, IDO Investments is a venture capital firm created by the State General Reserve Fund, Oman Oil Company S.A.O.C, The Research Council, and Oman Telecommunications S.A.O.G. The company has ever since, strived to identify and invest in innovative, scalable companies that have the potential to become global ventures.