Latest news with #StartupBahrain
Biz Bahrain
21-04-2025
- Business
- Biz Bahrain
Mumtalakat Sponsors the Second Edition of the 'Startup of the Year' Competition in Collaboration with Tamkeen
Bahrain Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, in partnership with the Labour Fund (Tamkeen) announces its sponsorship of the 'Startup of the Year' competition for the second consecutive year, following the successful launch of the competition's inaugural edition. As part of this collaboration, Mumtalakat will conduct a comprehensive feasibility study of winning companies from last year's StartUp Bahrain Pitch events. Based on this assessment, Mumtalakat will select one or more companies deserving of the esteemed title of 'Startup of the Year' and invest in them via direct capital injections, subject to a predetermined set of pre-approved terms and conditions, in light of this evaluation. Commenting on this occasion, His Excellency Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat, said, 'We are pleased to collaborate again with the Labour Fund (Tamkeen) through the Startup Bahrain platform for the opportunity to identify innovative and pioneering startups locally. Following the success of last year's inaugural edition of the competition, in which 'Lumofy' and 'Early Riser' were announced as winners, Mumtalakat will provide the necessary support to help this year's winners achieve growth and success'. 'This aligns with Mumtalakat's ongoing efforts to support the national economy by investing locally in innovative and promising projects that will generate employment opportunities, promote economic diversification, and enhance the role of public and private sector partnerships in the Kingdom,' he added. Tamkeen Chief Executive, Her Excellency Ms. Maha Abdulhameed Mofeez, expressed her enthusiasm to collaborate once again with Mumtalakat within this strategic initiative that aims to enhance entrepreneurship in the Kingdom and create a supportive and nurturing ecosystem for entrepreneurs in Bahrain. She added, 'The Startup Bahrain Pitch initiative was launched to address the challenges faced by startups in obtaining the necessary funding to expand their projects. This initiative has also contributed to equipping many entrepreneurs with the skills required to present their projects to attract potential investors with at the hands of entrepreneurship experts and specialists. We are proud of the innovative Bahraini startups that have achieved their funding goals and expanded their projects through this initiative and look forward to the participation of more entrepreneurs in this year's second edition.' This collaboration underscores Mumtalakat and Tamkeen's commitment to fostering innovation, nurturing the spirit of entrepreneurship, and contributing to achieving economic diversification in the Kingdom by leveraging their respective expertise and resources within the 'Team Bahrain' to create an empowering environment for startups to thrive, grow, and contribute to enhancing national economic growth. More than 100 entrepreneurs have gained valuable experience through the training program, which emphasises investment strategies, business expansion, and project development, with 82 entrepreneurs successfully qualifying for the pitch events since the StartUp Bahrain Pitch initiative's inception. The Labour Fund (Tamkeen) provides a variety of programs designed to support diverse enterprises and strengthen the private sector's role as a key driver of economic growth in the Kingdom. In addition, Tamkeen offers employment and career development initiatives aimed at positioning Bahraini talent as the preferred choice for employment.
Trade Arabia
06-04-2025
- Business
- Trade Arabia
Spring Venture, Tamkeen launch programme for Bahrain startups
Spring Venture Services, a management consulting firm based in Bahrain, has announced the launch of the eighth cohort of Rise: The Art of Fundraising, an intensive two-week training programme in collaboration with the kingdom's labour fund Tamkeen. The programme is aimed at equipping startup founders with the skills and knowledge needed to secure investment and scale their businesses. It is held under the supervision of Spring Venture Services and with the participation of Salica Investments, which provides founders with specialized funding and support, as well as access to a wide network of leading investors in the Mena region, enhancing the chances of success for startups. Since its inception, Rise has successfully organized seven training batches in preparation for 15 Startup Bahrain events, enabling 104 Bahraini startups to enhance their readiness to invest and secure the necessary funding. It will provide participants with a comprehensive learning experience through interactive workshops, conversations with industry experts, and one-on-one counseling sessions, giving entrepreneurs the necessary expertise in fundraising, presentation, and business strategy. The events are organised through strategic partnerships with leading entities including the Ministry of Industry and Trade, Tamkeen, the Economic Development Board, the Bahrain Development Bank and Startup Bahrain. Its strategic objectives, as well as additional funding opportunities and ongoing advisory support from the programme's network of partners to ensure accelerated growth and success in the market. Below are the startups participating in the eighth batch of the program by sector: *In technology and AI, du's platform offers an innovative experience to enhance customer engagement using AI technologies, helping businesses deliver more efficient and personalised services. *Tamam is an advanced AI-based order management system designed to support small businesses in improving their operations. *Cruise Technology offers an innovative safe driving rewards programme, which relies on telematic technology to track and analyze drivers' behavior and motivate them to drive responsibly. *In the field of e-marketplace and e-commerce, Byspay provides an integrated digital platform that connects buyers, sellers and investors, enhancing business opportunities and economic growth. *Cardio facilitates car care services through a digital platform, allowing customers to access advanced maintenance and repair solutions with ease. *On the other hand, Tahdaa offers an innovative model that integrates gifts and charitable donations, allowing users to present gifts in a way that has a positive social impact. *In finance and business services, Safar offers flexible travel financing solutions, making it easier for individuals to achieve their travel experiences without immediate financial burden. At the same time, *Rantat streamlines property management processes through an integrated digital system, making it easier for landlords and tenants to manage operations smoothly and transparently. *In the field of consumption and lifestyle, Kalani offers cutting-edge esports event management solutions, creating the perfect environment for competitive gaming enthusiasts. *Jalees provides a flexible on-demand childcare platform that connects parents and trusted care providers with ease and safety and *Finally, Seera offers a meal subscription service that supports local vendors, allowing individuals to access diverse food options while supporting entrepreneurs in the food sector. The RISE program continues to play a pivotal role in supporting entrepreneurship in Bahrain, giving startups access to industry leaders, investors and potential partners, enhancing their opportunities for sustainable growth and business expansion, said the statement from Tamkeen.
Trade Arabia
07-03-2025
- Business
- Trade Arabia
StartUp Bahrain kicks off annual pitch season
Startup Bahrain, a Tamkeen-backed platform for startups in Bahrain, kicked off a new season of its entrepreneurial series StartUp Bahrain Pitch spotlighting Bahrain's most promising founders. The event showcased a diverse lineup of Bahraini startups, including: • Ihdaa, a platform that redefines the concept of gifting by combining donations with meaningful experiences. • Cardue, a streamlining platform that simplifies car care by connecting car owners with authorised service providers. • Seera, a meal subscription platform with a user-friendly marketplace app and a robust backend system for managing subscribers. • Croozz Technologies, a data analytics platform that gamifies the driving experience and rewards safe driving in Bahrain through a free telematics app. • DOO, an AI-powered customer experience platform that personalises interactions across multiple channels and provides 24/7 AI-driven support. Following an intense round of pitches, DOO, founded by Ali Mohsin, was placed first, followed by Cardue, led by Yusuf Darwish, in second place. Both startups impressed the judges with their innovative business models and strong growth potential. Commenting on his achievement, Ali Mohsin said: 'This competition provided us with the opportunity to showcase our startup in front of a distinguished group of experts, investors, and stakeholders in the startup ecosystem. It allowed us to gain diverse perspectives and build bridges of communication with our fellow entrepreneurs. We truly appreciate the support we received from the stakeholders, judging panel, and all the partners who continue to contribute to strengthening this event as a launching pad for Bahrain's next successful innovators.' StartUp Bahrain Pitch is organised in collaboration with key industry stakeholders, including the Ministry of Industry & Commerce, the Labour Fund (Tamkeen), Bahrain Economic Development Board, and Bahrain Development Bank (BDB). This aligns with Tamkeen's commitment to supporting innovation and strengthening the entrepreneurial ecosystem in Bahrain through specialised initiatives and support programmes.
