In an interview with the Times of Oman, Qais Al Khonji, the only one local businessman who has recently been nominated among the top 10 entrepreneurs of the GCC talked about starting a business and angel investors.
Al Khonji is an active member of the growing Omani startup ecosystem. He regularly meets students to inspire them to follow their dreams and start their own business. According to him, encouraging entrepreneurship can be done via education. Based on his interaction with students, he said that most of them were a bit reluctant to start their own venture and preferred to be employees. He was convinced they needed a push, a little inspiration and a good example to follow.
In addition to that, since 2012 Al Khonji serves as a board member of Sharakah, a government fund that supports local projects. His duties there include advising young entrepreneurs on financial matters. Founded in 1998 by a Royal decree, Sharakah has gained popularity quickly. Nowadays, it invests in more than 20 promising young companies.
One of his latest initiatives includes the establishment of an Angel Investor Society:
It is where you invest without expecting a return, that’s why it is called an angel. It’s a new concept as people are against the idea of investing in a company with minimal returns. But investing for the purpose to help young people is still quite new.
Al Khonji’s efforts to develop the Omani startup environment have not remained unnoticed. In 2015, he became Social Entrepreneur of the Year Oman, nominated by the Business Worldwide Magazine. Two years later, he made it to the list of top 10 entrepreneurs in the region. The voting closes on September 5.