THE CELL
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The CELL program is one of the CSR (corporate, social, responsibility) initiatives of the Oman India Fertiliser Company (OMIFCO), an Oman Oil subsidiary based in Sur. The CELL program identifies, accelerates, and provides grant seed financing to qualified Omani entrepreneurs; it is the first private sector initiative of its kind in Oman. Specifically, the CELL provides practical training and mentoring and much needed grant capital for participating entrepreneurs during the multi-phase project. D... uring the initial phases the CELL entrepreneurs prepare finance-able business plans, financial projections, and grant applications which are subsequently reviewed in order to approve their grant requests. Subsequent to grant disbursement, the CELL grantees are coached and monitored on a monthly basis to help ensure the success of each entrepreneur. OMIFCO allocated a sizeable amount from its CSR funding to promote and implement the CELL program. The CELL was implemented with the assistance of two local Omani companies specialized in the development of small businesses and entrepreneurs. Inspired Solutions (an SME consultancy), founded by American William Crew, and Al Jazeera Training, owned by local entrepreneur Sharifa Al Barami were contracted to ensure not only adherence with best practices but also that skills are effectively transferred to the internal CELL team. The CELL program accelerates groups of entrepreneurs through a six week intensive โEntrepreneur Boot Campโ training, which gives the trainees practical skills that are immediately implemented in their businesses and incorporated into the development of their business concepts. The practical nature of the CELL is also emphasized by one-on-one mentoring throughout the CELL program which ensures that the training topics become engrained in the entrepreneursโ behavior and businesses. At the end of the Boot Camp the entrepreneurs have prepared all necessary documentation (business plan, financial projections, etc.) to make a business pitch and application for grant seed financing. CELL grants range from OMR 1,000 to a maximum of OMR 10,000. Most established businesses will be eligible for higher amounts, with start-ups beginning with lower amounts.
THE CELL
Industry:
Consulting Education Financial Services FinTech
Founded:
2012-01-01
Website Url:
http://www.alkhaliya.com
Status:
Closed
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