Innovation Park Muscat (IPM), an ambitious technology-driven R&D hub under development in Al Khoudh in Muscat Governorate, has the potential to create over 3,000 highly specialised jobs over the first 10 years of operation, according to a key official overseeing the landmark venture.
Dr Abdulbaqi al Khabori, Director of Science & Technology Parks at The Research Council (TRC), also said the total turnover of science-based companies and institutions setting up operations within the facility is estimated in the order of RO 250 million over the same period.
In a presentation at the just-concluded Industrial Innovation Forum, which was hosted by the Ministry of Commerce and Industry, Dr Al Khabori said the Innovation Park is expected to pull in new investors at a sustainable rate of around 10 science-based companies per annum.
Over time, this high-tech cluster will emerge as a major force in, among other things, commercialising new technologies, spurring the development of indigenous intellectual property, fostering R&D activities and knowledge-based businesses, and enhancing R&D’s contribution to the GDP, he stressed.
“Innovation Park Muscat intends to focus on four key areas that hold significance for Oman as a nation and as a future leader in global innovation,” said Dr Al Khabori. He listed these four thrust areas as: Energy (with special focus on Enhanced Oil Recovery and renewable energy development), Food & Biotechnology (with emphasis on the potential application of biotechnology in food production and processing), Water & Environment (focusing on groundwater conservation and seawater desalination), and Health (developing solutions for national healthcare issues).
Phase 1 of the sprawling hub, which will cover an area of 540,000 sq metres when fully rolled out, is now around 70 per cent complete, said Dr Al Khabori. When operational during the course of 2018, this initial phase will house a cluster of three buildings, as well as substantial incubation space for new startups.
According to the official, R&D investor interest in Innovation Park Muscat has been strong from the outset, with a number of local and international players having already leased space for their operations.
A notable example is the joint venture of Oman Oil Company, which is the energy investment arm of the Omani government, and Schlumberger, one of the world’s largest oilfield services companies. The JV plans to invest in a high-tech training facility with the focus on tight gas development, Dr Al Khabori said.