The Smart Industry Initiative: A New Model for Technology Transfer and Economic Development

BOS

July 7 2025

Hamid Hamirani, Co Founder of EHA Advisory and Managing Director of BSG International


The global economy is being constantly reshaped by innovation, but the challenge for most nations is keeping up with the pace of change. Underscoring this challenge is access to productive technologies that drive long-term growth, which is key to maintaining competitiveness. 

The Smart Industry Initiative (SII), spearheaded by BSG International (BSGI) in collaboration with Oxford Science Enterprises (OSE) and the British Omani Society (BOS), seeks to address this challenge through an innovative model of technology transfer. 

At the core of the initiative is OSE, an investment fund that catalyses startups which possess cutting-edge technologies developed at the University of Oxford. OSE and its portfolio companies have attracted investors such as Google Ventures and Temasek, alongside the Oman Investment Authority. 

The SII connects these startups with Omani companies. These connections are not based on export deals, but are framed around strategic partnerships designed to embed these technologies into Oman’s existing industrial ecosystem. 

A Strategic Approach to Technology Transfer: 

Many of the world’s most promising startups struggle to scale, not because of the quality of their innovations, but because of market barriers such as customer acquisition costs.

At the same time, many Omani companies benefit from access to capital, labour, and the local market, but lack the groundbreaking technologies that can significantly improve their productivity and enhance their competitiveness. 

The SII is structured to bridge these two realities. It enables UK startups to deploy their technologies through partnerships with Omani companies – companies that have the infrastructure, networks, and local understanding to apply the innovation effectively. This model of collaboration provides a pathway for startups to scale sustainably, while also generating tangible economic value in Oman. 

Delivering In-Country Value:

The focus of the SII is to create in-country value. It ensures that the adoption of UK tech strengthens local capabilities, rather than simply replacing them. 

“We are not interested in just selling into Oman. We want to manufacture here, transferring our knowledge and developing new products where the IP stays in Oman. Oman is a key partner to OSE.”
Jim Wilkinson, CFO of OSE


By working through a joint venture model, the initiative aims to: 

  • Raise productivity levels across key sectors

  • Upskill local workforces through the introduction of new technologies

  • Drive demand for Small and Medium-sized Enterprises, supporting their development

  • Reduce carbon emissions, helping to achieve the net zero goal

  • And reduce economic leakages by retaining value within the domestic economy.

The Journey So Far… 

In the first stage, four OSE startups were selected by BSGI for their potential to accelerate Oman into a new stage of economic development:

  • Oxford Flow, which has developed control valves and regulators that are smaller, leak-proof, and lead to 85% savings in operational expenses compared to conventional valves.

  • Odqa Renewable Energy Technologies (Odqa), which has developed a world-class thermal receiver that produces high grade heat from concentrated sunlight, providing cost effective, 24/7 renewable energy.

“More than 85 percent of the materials used in our Omani plantations will be procured locally in Oman.”
Gediz Karaca, CEO of Odqa

  • Alloyed, which combines materials modelling and digital manufacturing expertise to deliver high performance metallic components to industrial, medical, and electronics sectors. 

  • Archangel Lightworks, which has developed ground-to-space laser communication infrastructure to deliver high volume, secure data links between space and earth

In November 2024, the startups were introduced to a host of potential Omani partners, including public and private companies, as well as ministries. 

In February 2025, the SII was introduced to the Strategic Advisory Group, a body that facilitates investment opportunities between the UK and Oman. 

In May 2025, BSGI, OSE, Oxford Flow, and Odqa participated in Oman Sustainability Week, introducing their technologies and the benefits of the SII as a platform to facilitate meaningful technology partnerships. 

Also during Oman Sustainability Week, the BOS hosted a workshop on the SII which was chaired by His Excellency Salim Al Aufi, Minister of Energy and Minerals. 

As a result of these efforts and the invaluable endorsement of key figures in Oman, the SII has made significant progress: 

  • Omantel and Archangel Lightworks have signed NDAs to work on a proof of concept. 

  • Odqa is in active discussions with Oxy Oman, PDO, Oman LNG, and MEDCO regarding their participation in an upcoming technology demonstration in Spain. 

  • Oxford Flow is in conversation with Al Nama Water Services and OQ Gas Network for potential collaboration. 

A Model To Strengthen UK-Oman Relations:

“The SII is a good model for game changing technologies to deliver mutual bilateral growth, bringing Oman closer to achieving the goals set out in Vision 2040 and offering a return on investment for OIA in its original founding investment in OSE.”
Dr. Liane Saunders, UK Ambassador to Oman

The SII is designed to deliver mutual benefit while deepening the centuries-old strategic friendship between the UK and Oman. Rooted in a shared commitment to innovation-led growth, it offers a platform for collaboration that creates meaningful value for all stakeholders. 
    
But the SII would not have progressed with such success without the support of pivotal players. This includes His Excellency Salim Al Aufi, for his invaluable support and strategic guidance, as well as Richard Stanford, Chairman of the BOS, Chris Breeze, Vice Chairman of BOS, His Excellency Salah Zakwani, Chairman of the Omani British Society and UK Ambassador to Oman Dr Liane Saunders, all of whom recognised the potential of the initiative from the very beginning and championed it at every stage. 

The SII would not have taken off without the trust and leadership of Ahmed Al Subhi, Chairman of Al Nama Power; Dr Ammar Al Ojali, VP of Technology and Innovation at OQ; Nashwa Busaidi, Head of Technology at PDO; Dr Abdullah Al Minari, Advisor to the Minister of Health; Qais Zakwani, CEO of Al Nama Water Services; Yusuf Al Ojali, CEO of BP Oman; Ghassan Al Hashar, CFO of Omantel; and Ali Hussain, Chief of Strategy and Innovation at Omantel. 

And, of course, we must thank OSE, Oxford Flow, Odqa Renewable Energy Technologies, Alloyed, and Archangel Lightworks for their invaluable participation at every stage of this journey. 
 

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